September 19, 2007

Unit 1 Exam

Posted in Test Info at 7:49 pm by davidprudente

To assist in your preparation for the unit 1 exam:

  1. Review your class and chapter notes.
  2. Review your text book.
  3. Consult the Barron’s study guide.
  4. Review Activity sheets.
  5. Take the on-line quizzes at the textbook website (links can be found in previous posts below).
  6. Be sure to review all material concerning The Production Possibilities Curve (or Frontier according to Mankiw)

Best of luck in your studies.

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5 Comments »

  1. Cheng Zhou said,

    I took the online-quiz on the textbook webside and i am confused by number 4, which says:

    Which of the following is true regarding the principle of Absolute Advantage?
    a. Nations should specialize in producing those goods for which they have a lower opportunity cost.
    b. Nations should export goods for which they do not have an Absolute Advantage.
    c. Nations should specialize in producing those goods for which they have an Absolute Advantage.
    d. Nations should export goods for which they have a higher opportunity cost.
    status: incorrect (0.0)
    correct: c
    your answer: a
    feedback: Incorrect.

    Shouldn’t it be “each good should be produced by the country that has the smaller opportunity cost”?

  2. Jon H said,

    I keep forgetting to get a Barron’s book. How much are they again?

  3. davidprudente said,

    $13

  4. davidprudente said,

    RE: Cheng Zhou

    The on-line quiz appears to be flawed. This sometimes happens. I’ll inform the textbook publisher. But the lesson learned is go with your gut instincts. If you’ve studied and something doesn’t seem right, *always* speak up and let me know.

    By-the-way, choice “a” is the correct answer.

  5. Cheng Zhou said,

    Thank you Mr. Prudente!


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