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MidTerm_S-08_Review - Principles of Economics W1105y-2...

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Principles of Economics W1105y-2 Spring 2008 Sunil Gulati Mid-Term Review Exam : The mid-term exam is set for the normal lecture time (9:10-10:25AM) on Wednesday, March 12. Be prompt. Students will take the exam in one of three locations based on the first letter(s) of your last name, as follows: A-M 501 Schermerhorn (starts at 9:00AM) N-Se 404 IAB (starts at 9:10AM) Sh-Z 413 IAB (starts at 9:10AM) Exam Coverage : The following chapters from Hubbard/O’Brien are included: (with what I consider to be “core” chapters underlined in bold ): Intro Supply/Demands Chapters: 1, 2, 3, 4 Micro Chapters (to Mid-Term): 5, 6, 8, 9, 10, 11 , 12, 13, 14 Chapter 13 will be covered only briefly. All readings, handouts, lectures and lab sessions are fair game for the exam. Exam Format : The exam may include (i) multiple choice, (ii) identifications and (iii) essays/problems. It is likely that most students will need the full 75 minutes. If you are not on time, you will not be seated for the exam. The exam is closed book/no notes/no calculators/no clickers. Graded Exams : The process for returning graded exams will be discussed in class next week. Review Sessions : We will hold a review in class on Monday March 10. A short overview of microeconomics will be followed by some problem solving. Previous Exams : You will find four of my previous mid-terms (Fall 05, Spring 06, Fall 06 and Fall 07) attached. Your mid-term exam is likely to follow a similar format. It is also possible that not all of the material covered in previous exams has been covered this term. Solution Sets : for the exams are also attached as follows: Fall 07 Exam Complete solution set is posted. Fall 06 Exam Near complete solution set is posted Spring 06 Exam: Near complete solution set is posted Fall 05 Exam: Complete solution set is posted Where only multiple choice solutions are provided, written solutions for the other questions will not be posted but may be covered at the review session. Disability Services : Students who have been granted accommodations by the Office of Disability Services must ensure they are registered to take the exam at ODS on March 12 (this generally means a form which is signed by the instructor). BRING YOUR ID TO THE EXAM
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Section I: Multiple Choice. Write the letter of the best answer to each of the questions below on your answer sheet. 1. Boeing Corporation and Airbus Industries are the only two producers of long-range commercial aircraft. This market is not perfectly competitive because a. Each company has annual sales over $10 billion. b. Each company can significantly affect prices. c. Airbus receives subsidies from the European Union. d. Airbus cannot sell aircraft to the United States government. e. All of the above.
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MidTerm_S-08_Review - Principles of Economics W1105y-2...

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