Managerial Econ Study Guide
Managerial Economics
B Ad 5102
Study Guide for Mid-Term Exam
DO PRACTICE QUIZZES, STUDY GUIDE QUESTIONS, PROD EX, TEST BANK
You may construct a “formula sheet” that has only expressions, no words, except those words that identify the formula or use a sheet that is a legacy of previous classes. Your own personal sheet will need to be inspected by me upon completion of the test.
The test will cover Chapters 1-3 and 5. You will respond to five (5) of six (6) identification questions. (If you answer all six, only the first five will be graded.) Detailed answers and examples are to be provided. Remember, you are telling me about the term or concept. You are the teacher. None of this “you know” business. Yes, I know. The question is “what do you know?” Answers will be graded for correctness, completeness, and clarity. Meaning and significance will be evaluated. Examples certainly help an answer. If a small graphic helps, provide it. You may be asked to compare or contrast two terms, such as “substitute v. complementary goods.”
I am providing a large set of multiple-choice questions in classfiles for your use. These are out of the Baye test bank, 5th edition. I highly recommend that you look through samples of these questions. There are too many to spend much of your time there. This is a good way to study, but it can be overused. The answers are provided. I anticipate about 40 MC questions, worth two points each. T-F questions are also a possibility. There are, of course, the class quizzes, for which answers have been provided. There is also the M-C Quizzes from Baye that are a useful to study. If you master the class quizzes and the M-C quizzes, it is my belief that you will be well prepared for the objective part of the exam.
Essay questions will be part of the exam. I anticipate 2-3 such questions. The list of questions given below should provide you with some understanding of what might be asked. There may be some
B Ad 5102
Study Guide for Mid-Term Exam
DO PRACTICE QUIZZES, STUDY GUIDE QUESTIONS, PROD EX, TEST BANK
You may construct a “formula sheet” that has only expressions, no words, except those words that identify the formula or use a sheet that is a legacy of previous classes. Your own personal sheet will need to be inspected by me upon completion of the test.
The test will cover Chapters 1-3 and 5. You will respond to five (5) of six (6) identification questions. (If you answer all six, only the first five will be graded.) Detailed answers and examples are to be provided. Remember, you are telling me about the term or concept. You are the teacher. None of this “you know” business. Yes, I know. The question is “what do you know?” Answers will be graded for correctness, completeness, and clarity. Meaning and significance will be evaluated. Examples certainly help an answer. If a small graphic helps, provide it. You may be asked to compare or contrast two terms, such as “substitute v. complementary goods.”
I am providing a large set of multiple-choice questions in classfiles for your use. These are out of the Baye test bank, 5th edition. I highly recommend that you look through samples of these questions. There are too many to spend much of your time there. This is a good way to study, but it can be overused. The answers are provided. I anticipate about 40 MC questions, worth two points each. T-F questions are also a possibility. There are, of course, the class quizzes, for which answers have been provided. There is also the M-C Quizzes from Baye that are a useful to study. If you master the class quizzes and the M-C quizzes, it is my belief that you will be well prepared for the objective part of the exam.
Essay questions will be part of the exam. I anticipate 2-3 such questions. The list of questions given below should provide you with some understanding of what might be asked. There may be some