ECONOMICS 304K, Fall 2005 - ECONOMICS 304K, Fall 2005 NOTE:...

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ECONOMICS 304K, Fall 2005 NOTE: THIS FILE CONTAINS ANSWERS AND INFORMATION FOR THE FALL 2011 EXAM ANSWERS QUESTIONS12345 678910 1-10becbecbaad 11-20dbbabcdbee 21-30dccda d eabe 31-40adebc cb a de 41-50dcdbadcd be 51-60beadb aacde 61-70eebedebaec 71-72cb COURSE GRADE DISTRIBUTION GRADE PERCENT A 19 B 41 C 28 D 11 F 1 One student received an A- grade because she hit the Hammer Homer (got a score of 60 or more). Regarding +/- grades: Within each of the B, C and D ranges, the top of students in the range got a + , the bottom of students got a - , the remaining got the straight grade. In the A range, the top 2 percent of students in the course would have gotten an A+ in my gradebook (though I can t record that as an official grade), the bottom of students in the A range got an A-, the remainder got the straight A grade. FINAL EXAM GRADE SCORE CUT-OFFS A 52 B 44 C 37 D 32 The top score on the final exam was 66 (1 person), the bottom score was 14, the average was 46.5. Let me repeat: If you have any questions, please hold send them by email after January 17. I can t respond to any inquiries about grades until then and will delete all inquiries received before then. ECONOMICS 304K Fall 2011 FINAL EXAM D. Hamermesh Code on the scoring sheet the one best answer to each question. There are only 72 questions, on 14 separate pages, and each requires serious thought. Anyone who leaves the test before 1-1/2 hours of the 2-1/2 hour exam session is unlikely to have done very well. Please leave an empty seat on both sides of your seat. Turn in the scantron, but please keep the test sheet.
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Answers and grading scales for the final exam and the course will be posted on my website sometime after 5PM Wednesday, December 14. I will be happy to answer questions about your grade via email after January 17, but I will ignore and delete any emails or other contacts about grades that I receive before then. 1. Economics is a discipline that is especially concerned with: a. Abundant resources. b. Scarce resources. c. The geographic spread of resources. d. Natural resources. e. None of the above. 2. Refer to Figure 1. Suppose the PPF for this economy is PPF1 but the economy is currently producing at point A. What is the opportunity cost of moving from A to B? a. About 50 units of food. b. About 50 units of clothes. c. About 150 units of food. d. About 150 units of clothes. e. None of the above. 3. Which of the following is a story about the Law of Demand? a. Turkey prices rise around Thanksgiving. b. Airline tickets are harder to find around Christmas. c. As the price of gasoline falls, more people drive to visit Grandmother. d. The price of chicken decreased as turkey prices rose over Thanksgiving. e. All of the above.
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ECONOMICS 304K, Fall 2005 - ECONOMICS 304K, Fall 2005 NOTE:...

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