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Unformatted text preview: Department of Economics University of California, Davis ECONOMICS 1A Winter 2010 L. Jay Helms First Midterm Exam Version A Last Name: First Name: Your Student ID Number: Please check your registered section number: [ ] B01 Mr. Daniel Chermetz M 6:10-7 Wellman 129 [ ] B02 Mr. Daniel Chermetz M 5:10-6 Wellman 129 [ ] B03 Mr. Daniel Chermetz W 5:10-6 Wellman 129 [ ] B04 Mr. Daniel Chermetz W 6:10-7 Wellman 129 [ ] B05 Mr. Guojun (John) Wang T 6:10-7 Wellman 103 [ ] B06 Mr. Guojun (John) Wang T 7:10-8 Wellman 207 [ ] B07 Mr. Guojun (John) Wang R 6:10-7 Wellman 101 [ ] B08 Mr. Guojun (John) Wang R 7:10-8 Wellman 105 [ ] B09 Ms. Paris Ba T 5:10-6 Wellman 103 [ ] B10 Ms. Paris Ba T 6:10-7 Wellman 207 [ ] B11 Ms. Paris Ba R 5:10-6 Wellman 101 [ ] B12 Ms. Paris Ba R 6:10-7 Wellman 105 On your Scantron form you must bubble in: Name: Last Name, First Name Subject: Ecn 1A Test No.: 1 Date: 1/28/2010 Hour: Your section, for example, B06 ID Number: Your nine-digit student ID number Test Form: Your exam version (A) Ecn 1A Winter 2010 First Midterm Exam Version A Page 2. Part A: Multiple Choice Questions (20 questions, each of which is worth 3 points) Instructions : Choose the best answer. Answer these multiple choice questions only on your Scantron. Warning : Scantron errors may occur if you fail to erase an incorrect answer completely. Where erasures are incomplete and the Scantron machinedetecting two answers to the same questionmarks your answer as wrong, no regrading can be allowed. It is your responsibility either to be certain of your answers before you mark them or to be very careful to erase completely any incorrect markings. You may wish to replace your Scantron form with a new one if you need to correct an error. 1. A group of influential nutritionists announces that eating one more banana per day would improve health. What will happen to the market equilibrium? a) The demand curve will shift to the right, causing both equilibrium price and equilibrium quantity to increase. b) The demand curve will shift to the left, causing both equilibrium price and equilibrium quantity to decrease. c) The supply curve will shift to the right, causing equilibrium price to drop and equilibrium quantity to increase. d) The supply curve will shift to the left, causing equilibrium price to increase and equilibrium quantity to decrease. 2. In perfect competition, which of the following is not true? a. There are many buyers. b. Each seller is a price-taker. c. Each seller produces a slightly different product. d. No one has any market power. e. There are many sellers. 3. When faced with a trade-off between paying $20,000 for a car with a sunroof and paying $19,000 for a car without a sunroof, ceteris paribus , a rational person: a. calculates the number of sunroofs one could buy with $20,000....
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This note was uploaded on 09/23/2010 for the course NPB 8746546 taught by Professor Goldberg during the Spring '10 term at UC Davis.
- Spring '10