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Unformatted text preview: 1 Economics 101 Principles of Microeconomics Student Name : Korinna K. Hansen Section # : Spring 2009 Final Examination TA Name : Version 1 DO NOT BEGIN WORKING UNTIL THE INSTRUCTOR TELLS YOU TO DO SO. READ THESE INSTRUCTIONS FIRST. This is a 100 point exam and you have 120 minutes to complete it. The exam consists of 40 multiple-choice questions. Each problem is worth 2.5 points. Please answer all questions on the scantron sheet you are given using a #2 pencil . If there is an error on the exam or you do not understand something, make a note on your exam booklet and we will address this issue after this examination is complete. You cannot ask any questions about the exam while the exam is administered. When you are finished, please bring both the scantron sheet and this exam booklet to the place indicated by the instructors. NO CELLPHONES, CALCULATORS, FORMULA SHEETS ARE ALLOWED. CHOOSE THE BEST ANSWER FOR EACH QUESTION. GOOD LUCK! How to fill out the scantron sheet: 1. Print your last name , first name , and middle initial in the spaces marked Last Name, First Name, and MI. Fill in the corresponding bubbles below. 2. Print your student ID number in the space marked Identification Number. Fill in the bubbles. 3. Write the number of the discussion section you are registered for under Special Codes spaces ABC, and fill in the bubbles. For Discussion sections see the bottom section of this page. 4. Write the version number of your exam booklet under Special Codes space D, and fill in the bubble. The version number is on the top of this page. Discussion sections are as follows: Hsueh-Hsiang (Cher) Li 389 11:00 F 123 INGRAHAM 391 7:45 Tu 6101 SOC SCI Toshinori Onuma (Toshi) 383 7:45 Th 6228 SOC SCI 387 8:50 F 240 VAN HISE 393 8:50 Th 583 VAN HISE 397 9:55 F 490 VAN HISE Yuek Yu Kwai (Roy) 386 8:50 F 54 BASCOM 390 7:45 Tu 6310 SOC SCI 396 9:55 F 574 VAN HISE 398 7:45 F 5322 SOC SCI Irina Merkurieva 385 02:25 Th 115 INGRAHAM 388 11:00 F 215 INGRAHAM 392 8:50 Th 587 VAN HISE 394 1:20 F 223 INGRAHAM Martina Chura 382 7:45 Th 6116 SOC SCI 384 2:25 Th 116 INGRAHAM 395 1:20 F 123 INGRAHAM 2 1. Given the Production Possibility Frontier below, which statement is FALSE ? a. Points A and D are feasible and efficient. b. Point B is always more preferred than point A or D. c. Point B is feasible, but inefficient. d. Point C is not feasible. 2. Assume it takes Monica 2 hours to solve 20 Economics questions and it takes Monica 3 hours to solve 24 Mathematics questions. She has a total of 12 hours available. At which of the following combinations is Monica producing solutions efficiently? a. 20 Economics solutions and 24 Mathematics solutions b. 80 Economics solutions and no Mathematics solutions c. 75 Economics solutions and 36 Mathematics solutions d. 80 Economics solutions and 24 Mathematics solutions 3. Suppose Erics production possibility frontier (PPF) of good X and good Y is given by the equation Y = - X + 8. X + 8....
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