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  • ECON 104 Principles of Microeconomics Midterm Exam Fall 2020

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    ahmer
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    This document is a midterm exam for an economics principles course consisting of 5 short answer questions worth 5% each, totaling 25% of the course grade. Students are asked to submit their responses as a PDF or Word file by October 22nd, 2020 at 5PM. Late submissions will be discounted and no submissions will be accepted after the solutions are posted online at the end of week 8. The questions cover topics like using real domestic gross to determine the highest grossing film, the possibility of negative real interest rates on treasury bonds given a positive nominal rate, constant returns to scale in production functions, the effects of government spending more than it receives, and how utility functions explain risk aversion using the example of a fair bet

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    ECON 104 Mid Term 2020

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    This document is a midterm exam for an economics principles course consisting of 5 short answer questions worth 5% each, totaling 25% of the course grade. Students are asked to submit their responses as a PDF or Word file by October 22nd, 2020 at 5PM. Late submissions will be discounted and no submissions will be accepted after the solutions are posted online at the end of week 8. The questions cover topics like using real domestic gross to determine the highest grossing film, the possibility of negative real interest rates on treasury bonds given a positive nominal rate, constant returns to scale in production functions, the effects of government spending more than it receives, and how utility functions explain risk aversion using the example of a fair bet

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    © All Rights Reserved
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    24 views1 page

    ECON 104 Principles of Microeconomics Midterm Exam Fall 2020

    Uploaded by

    ahmer
    This document is a midterm exam for an economics principles course consisting of 5 short answer questions worth 5% each, totaling 25% of the course grade. Students are asked to submit their responses as a PDF or Word file by October 22nd, 2020 at 5PM. Late submissions will be discounted and no submissions will be accepted after the solutions are posted online at the end of week 8. The questions cover topics like using real domestic gross to determine the highest grossing film, the possibility of negative real interest rates on treasury bonds given a positive nominal rate, constant returns to scale in production functions, the effects of government spending more than it receives, and how utility functions explain risk aversion using the example of a fair bet

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
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    ECON 104 Principles of Microeconomics

    Midterm Exam Fall 2020

    October 15, 2020

    This problem set counts 25% to the total mark (each question 5%). Due
    date Thursday October 22nd 2020 5PM (end of week 8). Late submissions will
    be discounted. No late submissions are accepted when the solutions are online
    (which will happen end of week 8). Please upload as a PDF or WORD file using
    SafeAssign or copy a simple text directly into the field.

    1. Why do we use the real domestic gross to determine which film had the
    highest revenue in history?

    2. Can the real interest rate of a treasury bond be negative even if the nom-
    inal interest rate is positive? Give a historical example.

    3. Explain what is constant return to scale of a firm’s production function.


    What is the productivity of a large firm compared with a small firm, if
    both have the same production function of constant return to scale?

    4. What happens if the government spends more than it receives? Explain


    in your own words.

    5. How does the utility function explain risk aversion? Consider the example
    of a fair bet.

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