spring 2008 exam 1

spring 2008 exam 1 - ECON 2106 Shelby Frost Exam 1 11:00am...

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ECON 2106 Shelby Frost Exam 1 11:00am TR Spring 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.” Print name: _____________________ Signature: ___________________________
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ECON 2106 Shelby Frost Exam 1 11:00am TR Spring 2008 Version A Page 3 Name: __________________________ Date: _____________ Multiple Choice: Choose the one alternative that best completes the statement or answers the question. 1. After graduation from college, you will receive a substantial increase in your income from a new job. If you decide that you will purchase more T-bone steak and less hamburger, then for you hamburger would be considered a(n): A) substitute good. C) normal good. B) inferior good. D) complementary good. 2. Technological improvements will: A) shift the production possibilities curve outward. B) necessarily lead to increased unemployment. C) shift the production possibilities curve inward. D) leave the production possibilities curve unchanged. Use the following to answer question 3: Table: Market for a Can of Soda Market for a Can of Soda Price ($/unit) Quantity demanded (units) Quantity supplied (units) 0.50 10 7 0.75 8 8 1.00 6 9 1.25 4 10 1.50 2 11 3. (Table: Market for a Can of Soda) If the government does not impose a price control, the price of a can of soda will equal: A) $0.75. B) $1.25. C) $0.50. D) $1.00.
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ECON 2106 Shelby Frost Exam 1 11:00am TR Spring 2008 Version A Page 4 4. Marla will make $10 by tutoring for an additional hour but she will lose an hour of
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spring 2008 exam 1 - ECON 2106 Shelby Frost Exam 1 11:00am...

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