101w07 sample quiz 1-with answers

101w07 sample quiz 1-with answers - Economics 101-300...

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Economics 101-300 Section 307 Winter 2005 Quiz #1 20 points INSTRUCTIONS: You have 45 minutes to complete the quiz. Each question is worth 4 points. Please make sure to fill in your name on the line below. Please read each question carefully and answer it fully. Answer all of the questions in this quiz. Point values for each question are listed with the question. Write your answers directly on this document. If the question is multiple choice, circle the letter of the answer you believe is correct. For analytical questions, work out your answer on the paper in the space given. We can give partial credit if we see the work and can figure out where the problem is. Turn in this entire document when you are finished. Take your time, and good luck. Your name___________________________________________ 1) Given the production possibilities curve of zip drives and zip disks below, which change in production has the largest opportunity cost of producing one zip drive (assume the curve has been drawn to scale)? a) Point C to point B b) Point B to point A c) Point C to point D d) Point D to point B e) Point E to point A The largest OC of one zip drive is the largest slope moving toward Y-axis (more zip drives) on the PPF. E D C B A Zip drives Zip disks Winter, 2007 students— The schedules between years are slightly different and the quizzes are not the same. I have compiled questions from real quizzes that I have found that apply to the concepts we will have covered before quiz 1. You can use this practice quiz to get an idea of the “look and feel” of the questions in the first quiz. This is not exhaustive in questions or topics.
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Economics 101-300 Section 307 Winter 2005 2) You are paying a monthly membership fee of $24 at your health club, which you attend four
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This test prep was uploaded on 04/04/2008 for the course ECON 101 taught by Professor Gerson during the Winter '08 term at University of Michigan.

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101w07 sample quiz 1-with answers - Economics 101-300...

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