Midterm Summer11

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Name: _________________________ Student ID: _____________________ Economics 109 Midterm Exam Prof. Buzard, Summer 2011 You have 80 minutes to complete this examination. You may not use notes, calculators, or any books during the examination. Write your answers, including all necessary derivations, and nothing more, in the spaces provided. You may use the scratch paper that has been distributed for all other work but will not turn it in. To receive full credit, you must fully justify your answers (except where noted). Proper justification may consist of showing your work in attaining the answer, if your work reveals the reasoning that supports your answer. Excess verbosity will not help your grade. Even if your answer is correct, citing incorrect or irrelevant justifications will reduce your grade. If a question has multiple correct answers, you must (at a minimum) identify all of them to receive full credit. Identifying incorrect answers will reduce your grade even if you also identify all the correct answers. Partial credit may be given for correct reasoning and explanation, even if your final answer is incorrect; it is awarded at the discretion of the grader. 1.
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This document was uploaded on 11/30/2011.

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