practice_midterm10_100A - University of California San...

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University of California, San Diego Department of Economics ECON100A Practice Midterm Solutions Will Not Be Posted Professor Michael Noel Family Name Given Name Student Number Instructions: You have two hours to complete the test. Answer all questions . Closed book test. Non-programmable, non-graphing calculator permitted, but should not be necessary. No headphones permitted to be worn during the test. Regrade requests accepted only if the test is written in pen, not in pencil. Be conscious of the time remaining. Do the easiest problems first. Make sure you have enough time to attempt every question. Violations of academic honesty are taken very seriously, will result in an automatic F in the course, and the student will be turned over to the student’s Dean of Students for further repercussions. Please do not consider running afoul of the policy, and if you unclear about what constitutes a violation, please ask. Good luck! Do not write anything in the area below. Question 1: /20 Question 2: /20 Question 3: /20 Question 4: /40 TOTAL: /100
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2 Question 1 – Short Answers (20 Points – 5 Points Each Part) Answer the following questions very briefly (keep an eye on the clock!): a. What is transitivity? Explain in words and write down the relevant preference relations. b. “Thick” indifference curves are the result of violating which axiom? How does this violation produce thick indifference curves? Give intuition. c. True or false, and explain. (Hint: still false, credit for the explanation.) “For normal goods, when income increases, and all else held constant, the supply curve
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practice_midterm10_100A - University of California San...

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