Answers.TEST1.A04aaaa.2008

Answers.TEST1.A04aaaa.2008

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1 ECMA04H First Term Test - October 25, 2008 Professor Gordon Cleveland Time: 90 minutes Version A 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. At 12 units of X, the opportunity cost of Y is 2/3rds. The correct answer is (D). At 16 units of X, the opportunity cost of X is 8/3rds. The correct answer is (H). The utility function is maximized at 11.55 units of X. The correct answer is (E). Sherry Cooper is warning about a recession, which will cause the economy to perform at less than its capacity because of a reduced demand for goods and services. She...
View Full Document

This note was uploaded on 06/11/2011 for the course ECMA 04 taught by Professor Cleverland during the Fall '09 term at University of Toronto- Toronto.

Ask a homework question - tutors are online