W2011 Midterm Sample Questions

W2011 Midterm Sample Questions - Here is a list of sample...

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Here is a list of sample questions for the midterm. This list is neither inclusive nor exclusive. There is no guarantee that any of the questions on this list will actually appear on the midterm. There is no guarantee that even if some of the questions on this list do appear on the midterm that they will be asked in the same way (in fact it is quite likely that most of the questions listed here will not appear on the exam verbatim— but if you are able to answer the questions here, you will very likely be able to answer the questions as they appear on the midterm). Finally, there are likely some things that we discussed in class that I have not included a question about on this list, you are still responsible for knowing those things. (How is that for a disclaimer?) However, even with all of these disclaimers, I am hoping that these questions will serve as a useful guide for your studying. What are the three basic questions that every society must answer? What are the five dimensions along which to compare different economic systems? Explain how a firm is like a centrally planned economy. What are “transactions costs”?
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This note was uploaded on 04/05/2011 for the course ECO 365 taught by Professor Giederman during the Winter '11 term at Grand Valley State University.

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W2011 Midterm Sample Questions - Here is a list of sample...

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