fall 2008 final exam 2

fall 2008 final exam 2 - ECON 2106 Shelby Frost Final Exam...

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ECON 2106 Shelby Frost Final Exam 1:00pm TR Fall 2008 Version A Page 1 Do NOT open your exam until you are told to do so. Turn off your cell phone or any other noise-making devices you have with you. You are taking Version A of the exam. Please mark letter A on your scantron where it reads “Test Form”. When you submit your scantron for grading, you must turn in a signed copy of this page. Failure to do so will result in earnings of $0 for this exam. You may keep the questions for your record of what answers you marked. An answer key will be posted in webct after the exam is over so you can grade your own work. Tear this page off and turn it in when you turn in your scantron; keep the other pages for yourself. Honesty Oath: By signing below, I certify that I have adhered to the GSU Policy on Academic Honesty. The GSU Policy on Academic Honesty includes the following: “B. Cheating on Examinations: Cheating on examinations involves giving or receiving unauthorized help before, during, or after an examination. Examples of unauthorized help include the use of notes, computer based resources, texts, or "crib sheets" during an examination (unless specifically approved by the faculty member), or sharing information with another student during an examination (unless specifically approved by the faculty member). Other examples include intentionally allowing another student to view one's own examination and collaboration before or after an examination if such collaboration is specifically forbidden by the faculty member.” For this final exam, you may make use of a single “cheat sheet”… a single page of notes with no exam or quiz questions on it. Put your name on it and turn it in with this paper. Print name: _____________________ Signature: ___________________________
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ECON 2106 Shelby Frost Final Exam 1:00pm TR Fall 2008 Version A Page 2 Name: __________________________ Date: _____________ 1. Suppose Prof. Dumbledorr's magic hat monopoly is broken up and the magic hat industry becomes perfectly competitive. We would expect the _______ to increase from the breakup and _______ to decrease from the breakup. A) consumer surplus and total surplus; producer surplus B) producer surplus and total surplus; consumer surplus C) consumer surplus; producer surplus and total surplus D) producer surplus; consumer surplus and total surplus 2. If the government follows an income tax system in which personal income up to and including $25,000 is not taxed, income greater than $25,000 and less than or equal to $50,000 is taxed at a rate of 10%, and income over $50,000 is taxed at a rate of 25%. A family earning income equal to $60,000 in Taxland will pay a marginal tax rate of _______ and an average tax rate of _______. A)
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fall 2008 final exam 2 - ECON 2106 Shelby Frost Final Exam...

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