{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

test_1_-_final

test_1_-_final - ECON 2010 Spring 2011 Test 1 February 11th...

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

View Full Document Right Arrow Icon
ECON 2010 Spring 2011 Test 1 February 11 th , 2011 Hi, my name is ________________________________________________. I read the rules below and agree to conform to them. I understand that if I do not conform, academic misconduct charges can be filed against me. Sign:_____________________________________ 1. I will start and stop doing the test when I am told so. 2. I will not use any materials that are not allowed. Allowed materials are pencils, erasers, small scantron and highlighters. 3. My cell phone, laptop and any other similar electronic devices will stay turned off during the test. 4. I understand that only the answers on my scantron will count. 5. If I see a mistake in a question or if I do not understand the question I can ask about it to the proctor. But no changes will be made to any of the questions (except small typos). Therefore, I will answer that question as best as I can and object to it later by contacting the instructor.
Image of page 1

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

View Full Document Right Arrow Icon
1) If Red Bull and Monster Energy are considered substitutes, then, other things equal, an increase in the price of Red Bull will A) decrease the demand for Red Bull. B) increase the demand for Monster. C) increase the quantity demanded for Monster. D) decrease the quantity demanded for Red Bull. 2) The income effect of a price change refers to the impact of a change in 3) If an increase in income leads to in an increase in the demand for peanut butter, then peanut butter is 4) Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year’s grape harvest. What happens in the California wine market as a result of this announcement? 5) Last year, the Pottery Palace supplied 8,000 ceramic pots at $40 each. This year, the company supplied the same quantity of ceramic pots at $55 each. Based on this evidence, The Pottery Palace has experienced A) a decrease in supply. B) an increase in supply. C) an increase in the quantity supplied. D) a decrease in the quantity supplied.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern