Exam_1_Yellow_Econ_252_Spring_2006

Exam_1_Yellow_Econ_252_Spring_2006 - Econ 252...

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Econ 252 Macroeconomics Exam 1 Yellow LILY Room 1105 Tuesday February 7 th , 2006 Name ( Please PRINT ): Last Name First Name Student ID #: Place a checkmark next to your section number then record the 4-digit section number on the scantron. 0101 Monday/Wednesday/Friday 8:30 a.m. – 9:20 a.m. 0201 Monday/Wednesday/Friday 9:30 a.m. – 10:20 a.m. No calculators are allowed. You will not need a calculator for this exam. No brimmed hats are allowed. If you are wearing a hat with a brim, turn the brim to the back. All cell phones are to be turned off and put away. You will be in danger of receiving a zero on the exam if your cell phone is on or not put away Do not begin the exam until the instructor tells you to. While waiting, fill out your scantron completely and accurately and read the remaining instructions on this page. If any suspicious behavior is noted, you will be moved and may also receive a zero on the exam. Cheating will not be tolerated. Exam 1 contains 30 questions on 5 pages. Please be sure that you have 5 pages in your test booklet. If not, please inform the instructor before you begin the exam. Please mark all answers on BOTH the test booklet and the scantron. Once you are finished, please take both your test booklet AND answer sheet to the proper station. Econ 252, Spring 2006 Page 1 of 5 Exam 1 Yellow
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1. A tariff imposed on imports of steel will benefit: a) domestic producers of steel c) foreign producers and consumers of steel b) domestic consumers of steel d) All of the above. 2. To produce good A, a producer uses 2 units of good B and 3 units of good C. He pays $2.00 for each unit of good B and $1.00 for each unit of good C. He sells good A for $10.00 per unit. The value added in production of good C is _____ per unit produced. a) $1.00 b) $2.00 c) $3.00 d) $4.00 3. We discover that variables X and Y are positively correlated. We may conclude: a) X and Y are directly related variables. b) A rise in X will cause a rise in Y, or a rise in Y will cause a rise in X. c) On average, when the value of X is above its mean, the value of Y will be above its mean. d) All of the above are correct. 4. Given the Production Possibilities Frontier shown here, the opportunity cost in production of Butter is greatest at basket: a) A b) B c) C d) D 5. Given the Production Possibilities Frontier shown here, the opportunity cost in production of Butter is smallest at basket: a) A b) B c) C d) D 6. Given the Production Possibilities Frontier shown here, the
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This note was uploaded on 01/21/2011 for the course ECON 252 taught by Professor Robertholand during the Spring '08 term at Purdue University-West Lafayette.

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Exam_1_Yellow_Econ_252_Spring_2006 - Econ 252...

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