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Unformatted text preview: This is a sample midterm that was given in 2001. The topics in that class were slightly different, so you can ignore: section II, ques. 1, section III ques. 1 (c)-(d), section III ques. 2 (a) 1 Econ 115 Prof. Steven Berry and Teaching Fellows Spring 2001 Midterm Exam Because of claims of planned cheating, you will have to sign each section of the exam. To pick up your exam and receive a grade, you will have to sign again and show ID. No exceptions! Follow all instructions carefully. There are 4 sections to the exam. Think before writing; be brief and concise. Do explain your answers and graphs, but excess verbiage will not be rewarded. Some questions are harder than others. If a question seems too hard, move on to another one and then return to the harder questions later. Do not panic, the exam will be curved. No books, no notes, no calculators. There are seventy points on the exam, so you should take about one minute per point, leaving a few minutes to read instructions and proofread your answers. Unless indicated otherwise, all questions refer to perfectly competitive markets and all changes are short-run. You should explain each answer clearly and concisely. All graphs should be labeled and reasons should be given for each answer. On each bluebook you use, write your name, your TAs name and the exam section number. NO SECTIONS THIS WEEK! Answer Section I one on the next page, NOT IN A BLUE BOOK. Answers sections II, III and IV in separate bluebooks....
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- Fall '07