exam2 roussel


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V LOUISIANA STATE UNIVERSITY ECONOMICS 2030 SPRING 2010: EXAM 2 SIGNATURE: * NAME: LAB MEETING DAY: (^WEDNESDAY FRIDAY LAB MEETING TIME: 11:40 , 12:40 LAB INSTRUCTOR: MR EMRE UNLU MS TONG ZENG VERSION J INSTRUCTIONS 1. Read these instructions carefully and DO NOT TURN THIS PAGE until you are told that you may begin the examination. Fill in the information in the blank spaces above, signing your name where it says "SIGNATURE" and printing your name where it says "NAME." In addition, CIRCLE your lab meeting day, time, and lab instructor's name. 2. The only materials you may use on the exam are a pencil, an eraser, a highlighter, and a small scantron (Form no. 882-E). You may NOT use calculators, other electronic devices, scrap paper, or any other materials. Please place all unusable items in a closable receptacle, close the receptacle, and place that under your seat. All electronic devices must be turned off for the duration of the exam. 3. On your scantron please print the following information: Name, Lab Instructor's Name, Lab Section Number, and Test Version Letter. 4. Each question is worth 0.80 points. Each question has only one correct answer: MARK your choice clearly on your scantron. Any question on which a single answer is not marked clearly will be considered incorrect. 5. To sit for the exam you must have a valid LSU STUDENT ID card. Please place it on your desk where it can be seen and leave it there for the duration of the exarn. 6. Once the instructor begins to distribute the exam you may not talk. If you have a question, raise your hand. The question will be answered by the instructor. 7. You have 50 minutes in which to complete the exam. If you finish early, please remain seated and raise your hand. An instructor will collect your test, after which you may leave the room. Please do so quietly. 8. By signing this cover sheet you acknowledge that you have read, understood, and agreed to the conditions enumerated in this list of instructions. Violations of the exam instructions will be treated as a violation of the Code of Student Conduct and dealt with in accordance with the Code.
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v; Suppose the price elasticity of demand for a good is 2.1 and the price elasticity of supply for the good is 0.9. Suppose further than an excise tax of $10.00-per unit is placed on the good. Everything else held constant, the j^icejsejlers receive for the good after the tax is levied will be the price they received prior to the tax. A) the same as B) $1.00 lower than CJ_^ $2.10 lower than " $7.00 lower than $9.00 lower than 3 .,/ enor r;70%) 7 00 3 ,7 10.60 Suppose that mac and cheese is an inferior good and national income is increasing.
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This note was uploaded on 03/22/2011 for the course ECON 2030 taught by Professor Bong during the Spring '07 term at LSU.

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