spring 2009 exam 8

# spring 2009 exam 8 - ECON 2106 Shelby Frost Exam 1 2:30pm...

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ECON 2106 Shelby Frost Exam 1 2:30pm TR Spring 2009 Version A Page 2 This page is left blank intentionally.
ECON 2106 Shelby Frost Exam 1 2:30pm TR Spring 2009 Version A Page 3 Name: __________________________ Date: _____________ Multiple Choice: Choose the one alternative that best completes the statement or answers the question. Use the following to answer question 1: Figure: Tom's Production Possibilities 1. (Figure: Tom's Production Possibilities) In the accompanying figure, which point or points would represent an efficient combination of coconuts and fish that Tom could choose to produce? A) A only B) A and B C) B and C D) D only

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ECON 2106 Shelby Frost Exam 1 2:30pm TR Spring 2009 Version A Page 4 Use the following to answer question 2: Figure: Demand for Coconuts 2. (Figure: Demand for Coconuts) The accompanying figure shows the demand for coconuts. If a coconut is a normal good and the price of coconuts increases, then the movement that would take place in the model could be: A) E to B . B) C to A . C) A to B . D) B to A . Use the following to answer question 3: Figure: Supply of Coconuts 3. (Figure: Supply of Coconuts) The accompanying figure shows the supply of coconuts. If there is an improvement in the technology used to harvest coconuts (e.g., a faster, less expensive coconut picker), then the movement in the model could be: A) C to A. B) B to E. C) B to A. D) A to C.
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spring 2009 exam 8 - ECON 2106 Shelby Frost Exam 1 2:30pm...

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