ECO2023 - Summer B 2009 Midterm 1

ECO2023 - Summer B 2009 Midterm 1 - Professor: M. Rush ECO...

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Unformatted text preview: Professor: M. Rush ECO 2023 SUMMER B 2009 MIDTERM 1 Read all instructions on this page On the scantron bubble sheet, please enter: 1. Your name and initials 2. Your UF ID number 3. Special Code: 11 4. Test code: A 5. Sign your name on the back of the bubble sheet. This test is governed by UFs academic honesty code. It is intended to have 35 multiple choice questions. Please check to be sure your copy has all 35. If you do not answer a question, you will not get credit for that question. For each question, choose the best answer. The next is important: Unless you are specifically told otherwise, on this test do not assume that demand or supply is either perfectly elastic or perfectly inelastic. Do not ask questions of me or the TAs; in the interest of fairness I have instructed them not to answer any questions during the exam. I have become increasingly concerned that some students are at a real disadvantage because they are unwilling to ask questions during the exam while others ask a lot of questions. Hence, to level the playing field, I have decided to eliminate all questions during the test. I dont like this policy, but it seems the fairest policy. TURN OFF ALL CELL PHONES AND OTHER COMMUNICATION DEVICES You may not use a cell phone, a Blackberry, or any other sort of device that allows for communication as your calculator. You will have 60 minutes to complete the exam and bubble in all your answers. When the TAs say that time is up, you must hand in your exam. We will not give extra time to finish bubbling in the answers, so be sure you are done when the 60 minutes are up. Of course, you may hand in your test at any time before the 60 minutes are up. An answer key will be posted on the main class web page about an hour after the test ends. The test scores will be on the exam 1 feedback web page within a few days. Check if the test code and UF ID number you bubbled-in are correct now. Also check to be sure your name is correctdo it now. I have heard a rumor that the ability to ECO 2023 MIDTERM 1 SUMMER B 2009 2 correctly record these had been mastered by a few students at FSU as well as a couple of accounting and journalism students. I will investigate these rumors but in the meanwhile, CHECK YOUR TEST CODE AND UF ID NUMBER. IF YOU GET EITHER OF THESE WRONG, YOU WILL LOSE 5 POINTS!!!! After the scores are posted, if you think your posted score is incorrect, email the grader at eco2023.grader@cba.ufl.edu. You have one week after the curved score is posted to request a grade check. After a week, the score will not be changed. If the web reports what you bubbled in for each question and you ask the grader to check an answer because you believe you bubbled in something other than what is reported and the reported answer on the web is correct, you will lose 1 additional question. ECO 2023 MIDTERM 1 SUMMER B 2009 3 1) The price of a soda rises 10 percent and the quantity of milk demanded increases by 20 percent. The cross elasticity of demand between soda and milk equals ____ and 20 percent....
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ECO2023 - Summer B 2009 Midterm 1 - Professor: M. Rush ECO...

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