midterm1Akey HKU PRINCIPLE OF ECONOMICS.pdfVIP

This is version A. ECON1001: Introduction to Economics Fall 2006 University of Hong Kong Mid-term exam #1 Saturday, October 14, 2006 10:00a.m. – 11:00a.m. PLEASE READ THIS COVER PAGE CAREFULLY. UNLESS THE INVIGILATOR TELLS YOU TO DO SO, DO NOT TURN THE PAGE, DO NOT READ THE EXAM QUESTIONS, AND DO NOT START WRITING. A note from the instructors: We expect students to finish all the 68 multiple choice questions in 60 minutes, i.e., slightly less than one minute per question on average. Try not to allocate more than 2 minutes on any single question. Please also try to work on the apparently easier questions first. This strategy should help you lower the risk of losing a lot of marks by getting stuck in one or two of the more difficult questions. If you are done early, try to double check your answers. To avoid disturbance to other students, please do not leave early. Please mark the best answer to each multiple choice question on the answer sheet provided. On the answer sheet, please write down: Course code: ECON1001X, where X should be one of A/B/C/D/E/F/G/H. Title of the paper: Introduction to Economics I. University ID number: xxxxxx (also fill in the boxes on the upper right corner) Date: 14 October 2006. Please turn off your mobile phone. NO CHEATING PLEASE!! To help reduce the temptation to cheat, the proctors will keep close watch of students during the exams. For students who must use the washroom during the exam, the proctor will keep a record of their names and student IDs and take away their mobile phones during the their washroom visit. ECON1001 Midterm #1 14 October 2006 Version A - 1 - 1. Which version of the exam paper do you have? A) version A. B) version B. 2. Which class are you in? A) ECON1001A. B) ECON1001B. C) ECON1001C. D) ECON1001D. E) ECON1001E. F) ECON1001F. G) ECON1001G. H) ECON1001H. 3. Pat earns $25,000 per year (after taxes