MODR 1710 Study Guide - Final Guide: Torah, Opportunity Cost, Economic Equilibrium

• School: York University
• Department: Modes Of Reasoning
• Course: MODR 1710
• Professor: Carmela Circelli

Document Summary

Part i - problem format - is worth 40 marks (80% of the total mark of 50) Part ii - multiple choice- is worth 10 marks (20% of the total mark of 50) This total marks in this test are 50. The test is divided into two parts: (5 multiple choice questions worth 2 marks each) Print your name and student number clearly on the front of the exam and on any loose pages. Principles of economics: midterm test #1: sample #2 answers. Place your answers (and work where necessary) in the space provided. Part i: production possibilities curve (10 marks) Ontario, with only labour and capital as resources, has the following production possibilities for buses and cars. 125,000: 1 mark: diagram with bus intercept = 45,000 and car intercept = 125,000. 1 mark: concave (to origin) ppc: 1 mark: no change in bus intercept and new ppc concave to the origin.