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Economics 103 Final exam ANSWER KEY - Simon Fraser …

Economics 103. Final exam ANSWER KEY. December 10, 2009 Dr. J. Friesen 3 hours No calculators, no aids allowed. Part 1. 40 Multiple Choice questions @ marks each. Indicate your answers on the bubble sheet provided. 1) During the next hour John can choose one of the following three activities: playing basketball, watching television, or reading a book. The opportunity cost of reading a book A) depends on how much the book cost when it was purchased. B) is the value of playing basketball if John prefers that to watching television.

22) Leah consumes at a point on her budget line where her marginal rate of substitution is less than the magnitude of the slope of her budget line. As Leah moves towards her best affordable point, she will move to A) a lower budget line. B) a higher budget line. C) a lower indifference curve. D) a higher indifference curve.

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