ECON 159 Final: ECON 159 Final Exam 2007 Solutions
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Do not get bogged down on the hard parts: move on! (cid:15) please put each question into a di(cid:11)erent blue book. (cid:15) show your work. (cid:15) good luck! [20 total points] state whether each of the following claims is true or false (or can not be determined). For each, explain your answer in (at most) one short paragraph. Each part is worth 5 points, of which 4 points are for the explanation. Explaining an example or a counter-example is su(cid:14)cient. Absent this, a nice concise intuition is su(cid:14)cient: you do not need to provide a formal proof. Points will be deducted for incorrect explanations. (a) [5 points] \william the conqueror burned his boats because his soldiers were afraid of the dark. " It was a commitment strategy preventing his soldiers from being able to retreat. He burned to show the saxons that the normans could not retreat. (b) [5 points] \consider the strategy pro(cid:12)le (sa; sb).
