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Important: Please remember it is a sample exam. Number of questions in each section and

structure of questions in Part B would vary as discussed in class

VANCOUVER ISLAND UNIVERSITY

ECON211: Principles of Microeconomics, Spring 2013

SAMPLE MIDTERM EXAM

Name (Last, First): ______________________________________________

ID #: ______________________________________________

Signature: _______________________________________________

THIS EXAM HAS TOTAL _----- PAGES INCLUDING THE COVER PAGE

Instructions:

 Total marks ____ and you have 75 Minutes to complete the exam.

 Please answer your MCQs in the table provided on the last page and short questions in

the space provided.

 For short answer questions

 You must show your all work to get full marks. If you do not show work, you may not

get full marks even for a correct answer.

 Use the marks assigned to each question as a guide to allocating your time across

questions.

Good Luck on Your Exam

Sample Midterm Exam, ECON211

Spring 2013

Page

2

PART A

(There are 30 MCQ in this section, worth 30 marks)

1. In the Canadian economy, most decisions regarding resource allocation are made by:

a. business firms only.

b. negotiation between unions and firms.

c. consumers and producers interacting in the price system

d. Legal contract

e. The various levels of government

2. Economics can best be described as

a. the study of how to reduce inflation and unemployment

b. a normative science

c. the study of the use of scarce resources to satisfy unlimited human wants

d. the study of how a society ought to allocate its resources

e. the application of sophisticated mathematical models to address social problems

3. Positive statements

a. have been verified by appeal to factual evidence.

b. are seldom employed in social sciences like economics

c. are falsifiable in principle by appeal to factual evidence.

d. form the basis of all normative arguments

e. have no place in economics because economics deals...