Exam 1 Pink Econ 252 Spring 2008

Exam 1 Pink Econ 252 Spring 2008 - To view the exam key:...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
To view the exam key: Microsoft Office 2003: In the document, go to the Tools menu, click Options , and then click the View tab. Under formatting , make sure the Hidden text box is checked. To print hidden text, click the Print tab . Under Include with document , make sure the Hidden text box is checked. Microsoft Office 2007: In the document, click on the Microsoft Office Button , click Word Options , and then click Display . Under Always show these formatting marks on the screen , select the Hidden text . Econ 252 Spring 2008 Page 1 of 8 Exam 1 Pink
Background image of page 1

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

View Full DocumentRight Arrow Icon
Econ 252 Exam 1 Pink January 28 th , 2008 Name ( Please PRINT ): Last Name First Name Student ID #: Place a checkmark next to your section number then record the 4-digit section number on the scantron. 0101 Tuesday / Thursday 7:30 – 8:45 a.m. 0201 Tuesday / Thursday 9:00 – 10:15 a.m. No brimmed hats are allowed. If you are wearing a hat with a brim, turn the brim to the back. All cell phones are to be turned off and put away. You will be in danger of receiving a zero on the exam if your cell phone is on or not put away Do not begin the exam until the instructor tells you to. While waiting, fill out your scantron completely and accurately and read the remaining instructions on this page. If any suspicious behavior is noted, you will be moved and may also receive a zero on the exam. Cheating will not be tolerated. Exam 1 contains 35 questions on 7 pages. Please be sure that you have 7 pages in your test booklet. If not, please inform the instructor before you begin the exam. Please mark all answers on BOTH the test booklet and the scantron. Once you are finished, please take both your test booklet AND answer sheet to the proper station. Econ 252 Spring 2008 Page 2 of 8 Exam 1 Pink
Background image of page 2
1. Consider the growth of GDP and Real GDP shown here. We can conclude from this graph that this economy experienced inflation from period: a) t 0 to t 1 c) t 1 to t 3 b) t 0 to t 2 d) None of the above. 2. Given the growth shown in this graph, we may conclude that this economy experienced a recession from period: a) t 0 to t 1 c) t 2 to t 3 b) t 1 to t 3 d) None of the above. 3. From the graph shown here, we may conclude that the base year was period: a) t 0 b) t 1 c) t 2 d) t 3 4. People are willing to pay more for a diamond than for a bottle of water because a) the marginal cost of producing an extra diamond far exceeds the marginal cost of producing an extra bottle of water. b) the marginal benefit of an extra diamond far exceeds the marginal benefit of an extra bottle of water. c) producers of diamonds have a much greater ability to manipulate diamond prices than producers of water have to manipulate water prices. d) water prices are held artificially low by governments, since water is necessary for life.
Background image of page 3

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

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 8

Exam 1 Pink Econ 252 Spring 2008 - To view the exam key:...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online