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Corrected%20Practice%20Exam%20-%20Final

Corrected%20Practice%20Exam%20-%20Final - EC11 2005...

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EC11 2005 Comprehensive Practice Exam TA: Nate with Kyle, Phil, and Dimitra 1 1) Interest Rates. Rising interest rates… a. …stimulate investment spending. b. …reduce private savings. c. …are the likely result when the Fed sells bonds. d. …are the likely result when Congress runs large budget surpluses. e. None of the above. 2) Macro. Stagflation… 3) Elasticity. Which of the following statement does not apply to goods with relatively inelastic demand? 4) Macro. A Federal Reserve committed to price stability will… 5) Discrimination. Which of the following statements is incorrect ? Laws preventing illegal immigrants from working… a. …have a negative effect on labor supply. b. …may reduce technological knowledge. c. …are not economically efficient. d. …make the market wage fall. e. Both b) and d).
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EC11 2005 Comprehensive Practice Exam TA: Nate with Kyle, Phil, and Dimitra 2 6) Wage Differentials. Which of the following do employers compensate for with higher wages? 7) Taxes. Which of the following statements is false ? 8) Macro. Recessions may be associated with all of the following except :
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