spring 2009 exam 4

spring 2009 exam 4 - ECON 2106 Shelby Frost Exam 1 1:00pm...

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ECON 2106 Shelby Frost Exam 1 1:00pm TR Spring 2009 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 1:00pm TR Spring 2009 Version A Page 3 "Multiple Choice: Choose the one alternative that best completes the statement or answers the question." 1. Microeconomics deals with: A) the working of the entire economy or large sectors of it. B) economic growth. C) individual units in the economy. D) all of the above. 2. The problem of determining what goods and services society should produce: A) exists because we can produce more than we need or want. B) exists because there are not enough resources to provide all the goods and services that people want to purchase. C) would not exist if all goods and services were scarce. D) would not exist if government owned all of the resources. 3. The cost of leaving the skating championship before it ends is ___, while the cost of staying for the entire match is ___. A) the opportunity cost of not seeing the perfect “10” performance; zero—the ticket to the championship is already paid so there is no cost B) the opportunity cost of not seeing the perfect “10” performance; the opportunity cost of avoiding the post-championship traffic jam C) zero—you don't have to pay to leave; zero—the ticket to the match is already paid so there is no cost D) none of the above 4. Which of the following would be an example of opportunity cost?
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This note was uploaded on 01/19/2011 for the course ECON 11853 taught by Professor Brianallenhunt during the Spring '10 term at Georgia State.

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spring 2009 exam 4 - ECON 2106 Shelby Frost Exam 1 1:00pm...

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