Exam #2 Spring 2007

Exam #2 Spring 2007 - Name: _ SID : _ Discussion Section: _...

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Spring 2007 (IS – LM Model) Econ 100B 1 of 10 Name: ____________________________ SID : ____________________________ Discussion Section: ________________ Economic 100B Macroeconomic Analysis Professor Steven Wood Spring 2007 Exam #2 Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking this test. I will not discuss the questions on this test until after 3:30 p.m. on March 22, 2007. ______________________ Signature Any test turned in without a signature indicating that you have taken this oath will be assigned a grade of zero. Graph Instructions When drawing diagrams, the following rules apply: a. Completely , clearly and accurately label all axis, lines, curves, and equilibrium points. b. The original diagram and equilibrium points MUST be drawn in black or pencil. c. The first shift of any curve(s) or line(s) and the new equilibrium points MUST be drawn in red. d. The second shift of any curve(s) or line(s) and new equilibrium points MUST be drawn in blue. e. The third shift of any curve(s) or line(s) and new equilibrium points MUST be drawn in green. Do NOT open this test until instructed to do so. Good Luck!
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Spring 2007 (IS – LM Model) Econ 100B 3 of 10 A. Multiple Choice Questions . Mark the letter corresponding to the best answer in the assigned space at the bottom of the page. (3 points each; total of 30 points.) 1. Research has shown that small firms are much more responsive to changes in the cost of credit than large firms because they have fewer internal funds. So, if a country as a higher proportion of small firms then: a. The LM curve would be steeper. b. The IS curve would be flatter. c. The IS curve would be steeper. d. The country would have a higher monetary base. e. None of the above. 2. According to Okun’s Law, what variable would tell us the most about the demand for labor in an economy? a.
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Exam #2 Spring 2007 - Name: _ SID : _ Discussion Section: _...

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