{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

TEST1.A04aaaa.2008

# TEST1.A04aaaa.2008 - 1 ECMA04H First Term Test Professor...

This preview shows pages 1–3. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
2 ECMA04 FIRST TERM TEST October 25, 2008 This term test consists of 25 questions. Answer each question by choosing the best alternative and indicating your choice by filling in the appropriate bubble on the Scantron sheet - it is the only thing you will turn in at the end of the exam. You may take the rest of the exam away with you, so you can use the fronts and back of these pages for your rough work. If you wish to keep a record of your answers, make a note of them on the exam question sheet. The answer sheet (Scantron) will not be returned to you, but the answers will be posted on the Intranet, and of course your mark will be posted on the Intranet. Each correct answer is worth 4 marks (there is no deduction for wrong answers). 1 3. A country produces goods X and Y and has the following equation for its production possibilities frontier: Y 2 + 4X 2 = 1600 or Y = [1600 - 4X 2 ] 0.5 Questions 1 through 3 concern this country. 1. You are told that the economy is producing efficiently and has chosen to produce and consume 12 units of X and 32 units of Y. At this point on the production possibilities frontier, you can use calculus to obtain the opportunity cost of Y as: A) 2 B) 1/2 C) 3/2 D) 2/3 E) 3 F) 1/3 G) 1/4 H) 8/3 I) 3/8 J) none of the above 2. Now you are told that the economy is producing efficiently and has chosen to produce and consume 16 units of X. At this point on the production possibilities frontier, you can use calculus to obtain the
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 9

TEST1.A04aaaa.2008 - 1 ECMA04H First Term Test Professor...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online