hours It is NOT allowed to use a graphical‚ programmable calculator; only a simple pocket calculator is allowed. Write the answers to the questions on the attached answering form (on pages 7 and 8); only the answers‚ no derivations. (For this midterm‚ only the final answers to each individual question count.) This mid-exam contains 8 pages: 4 pages with information and three exercises‚ 1 page with a few formulae and 2 pages for filling in your answers (and 1 empty page). Only hand in the two-sided
Premium Variance Regression analysis Statistical inference
Midterm Exam Part 1 • Question 1 0 out of 4 points The level of an economic activity should be increased to the point where the ____ is zero.Answer Selected Answer: marginal cost Correct Answer: net marginal benefit • Question 2 4 out of 4 points The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:Answer Selected Answer: the coefficient of variation is a measure of relative
Premium Supply and demand Economics
Anthropology 250 March 13‚ 2012 Midterm Section 1: Short Answer 2. List and briefly explain the three goals of archaeology. How do they apply and differ from the earlier paradigms of archaeology? * The three goals of archaeology are the study of culture history‚ reconstruct past life ways‚ and understand cultural processes. The study of culture history is to piece together the history of how culture changes over time. To reconstruct past life ways is a complex process that involves a
Premium Human Human evolution Archaeology
Midterm Review Name: ______________________________ Date: ___________ Circle Period R1 R2 R3 S1 S2 S3 Chapter 1 – About Science Vocabulary: Define each term. Fact: Hypothesis: Law: Theory: Check Concepts: 1. Why is physics the most basic science? 2. Why is mathematics important to science? 3. Is a scientific fact something that is absolute and unchanging? Defend your answer. Chapter 2 – Mechanical Equilibrium Vocabulary: Define each term. Force: Net Force: Vector:
Free Force Classical mechanics Newton's laws of motion
Econ 110 (L3) Midterm Exam Spring‚ 2007 Part I: Multiple Choice Questions – 50% Part II: Essay Questions – 50% Question 1 (15%) a) A professor would prefer to have all students attending lectures and have all question answered in class‚ than to give extra office hours to answer those questions raised by individual students. Explain his rationale based on economic theory you have learned. MC of lecturing an extra student is almost 0 during usual lecture hours but would be much higher
Premium Economics University Education
ECON 2020 – FINAL EXAM REVIEW Exam 1 Review Scarcity * A situation in which unlimited wants exceed the limited resources available to fulfill those wants. * Scarcity leads to CHOICE Choice * A situation caused by scarcity. * Leads to OPPORTUNITY COST Rational Choice (Marginal Cost & Benefit) * Rational consumers will use all available information as they act to achieve their goals * Marginal Benefit – The benefit that arises from an increase in an activity
Premium Economics Supply and demand
Demand Estimation Econ 550 Strayer University QD = - 5200 - 42P + 20PX + 5.2I + .20A + .25M (2.002) (17.5) (6.2) (2.5) (0.09) (0.21) Qd= -5200 – 42(500) + 20(600) + 5.2(5‚500) + .20(10‚000) + .25(5‚000) Qd= -5‚200 – 21‚000 + 12‚000 + 28‚600 + 2‚000 + 1‚250 = 17‚650 It is a common rule‚ when the prices of a product increase the demand of that same product decreases. In the particular case the price of the product increases‚ the demand for the frozen microwaveable food will decrease
Premium Supply and demand Consumer theory Elasticity
Env105 Midterm Exam 1. Summarize the notion of sustainability as described by Paul Hawken. Describe briefly the 12 steps he suggests towards a sustainable society. Sustainability is the capacity to endure. In ecology the word describes how biological systems remain diverse and productive over time. For humans it is the potential for long-term maintenance of well-being‚ which in turn depends on the maintenance of the natural world and natural resources. As the earth’s human population has increased
Premium Sustainability Natural environment Ecology
103 Midterm Answer (Fall 09) Q1: 1a) Economic growth occurs when a country chooses to allocate some of its resources to the production of capital goods‚ instead of consumption goods. This expands the resource base‚ allowing the country to produce more goods and services thus furthering economic growth. Economic growth can also occur when more productive technology is used. Technology makes the production process more efficient so more goods and services can be produced without increasing the
Free Unemployment Macroeconomics Tax
ACCT112 Midterm Assignment – Week 9 Due at the end of week 9. There are 70 marks. This assignment is worth 20 % of the total grade. True or False: (15 Marks) 1. In spite of its weaknesses‚ the cost principle is most often used because it is the most reliable basis of valuation. TRUE 2. The going concern assumption assumes the company will continue to operate for at least two years. TRUE 3. The economic entity assumption states that economic events can be identified with a
Premium Balance sheet Generally Accepted Accounting Principles Revenue