Mid-term2 - Name Student RYERSON UNIVERSITY Department of...

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Name: Student # : Section: RYERSON UNIVERSITY Department of Economics ECN 204 (Section-7) TERM TEST 2 November, 2004 Instructor: Sharif F. Khan Time Limit: 50 minutes Total Pages Including the Cover Sheet: 12 Instructions: Important! Read the instructions carefully before you start your exam. Mark your selections for PART A on the examination question booklet by circling the right choice in PENCIL . If you make changes, be sure to erase completely. Please record your name, student number, and your section of the course on the top of your examination question booklet. Write your answers for Part B and Part C in the space provided on the exam question booklet. Marking Scheme: Part A [30 marks] TEN multiple-choice questions – 2 marks each Part B [10 marks] ONE True/ False/Uncertain question. Part C [10 marks] ONE problem solving question Notes: If doubt exists as to the interpretation of any question, please include a clear statement of any assumptions made in your answer. You may use a calculator. You are NOT ALLOWED to use any textbooks, notes or other study materials.
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Multiple-Choice Questions [30 marks] Each question is worth 2 marks. There is no negative marking for wrong answers. To answer each question correctly, you have to choose (make a circle in PENCIL) the best answer from the given four choices. 1. Suppose government finds it can increase the equilibrium real GDP $45 billion by increasing government purchases by $18 billion. On the basis of this information we can say that the: A) MPS in this economy is .4. B) MPC in this economy is .4. C) MPC in this economy is .3 D) multiplier is 3. Use the following to answer question 2: 2. The equilibrium level of GDP in the above mixed open economy: A) is $100. B) is $250.
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Mid-term2 - Name Student RYERSON UNIVERSITY Department of...

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