spring 2008 exam 7

spring 2008 exam 7 - ECON 2106 Shelby Frost Exam 1 2:30pm...

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ECON 2106 Shelby Frost Exam 1 2:30pm 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 2:30pm 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. A change in the demand for Luis's Pizza would not be caused by a change in the: A) price of Humberto's Pizza. C) price of Luis's Pizza. B) popularity of Luis's Pizza. D) buyers' income. 2. In a single day, Sarah can produce 10 hamburgers while Abe can produce 5 hamburgers. We then know that: A) Sarah has the absolute advantage in making hamburgers. B) Abe has a comparative advantage in making hamburgers. C) Abe has an absolute advantage in making hamburgers. D) Sarah has the comparative advantage in making hamburgers. 3. Economists tend to believe that to change people's behavior: A) you must change their incentives. B) you must legislate the change. C) you must appeal to their concern for society. D) none of the above can be done to change people's behavior.
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ECON 2106 Shelby Frost Exam 1 2:30pm TR Spring 2008 Version A Page 4 Use the following to answer question 4: Figure: Production Possibilities and Circular-Flow Diagram 4. (Figure: Production Possibilities and Circular-Flow Diagram) Assume the accompanying figures represent the same economy. Suppose that in the circular-flow
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spring 2008 exam 7 - ECON 2106 Shelby Frost Exam 1 2:30pm...

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