ECON 1000 Study Guide - Midterm Guide: Scantron Corporation, Electrical Contacts, Nash Equilibrium
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ECON 1000 Full Course Notes
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Instructions: write your name and student number on the exam paper and fill out the corresponding information on the scantron form. Any work written on the exam paper itself will not be graded. You may use a calculator but no smartphones, books or notes are permitted during the exam. There are a total of 30 questions and each question has equal weight. You have 60 minutes to complete the exam. Choose the one alternative that best completes the statement or answers the question. 1)the budget line depends on1)a)preferences and prices. b)prices only. c)income only. d)preferences only. e)income and prices. 2)martha consumes cake and muffins. Suppose martha"s income doubles and the prices of cake andmuffins also double. Martha"s budget line2)a)remains unchanged. b)shifts leftward but the slope does not change. c)shifts rightward and becomes steeper. d)shifts rightward and becomes flatter. e)shifts rightward but the slope does not change. 3)sara"s income is a week. The price of popcorn is a bag, and the price of a smoothie is .
