Dearforff_w07-F - Econ 102, Section 100 NAME: (print) _ UM...

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Econ 102, Section 100 NAME: (print) _______________________________ Final Exam, Form 1 UM ID # _____________________ Section #______________ Econ 102/100 Final Exam April 19, 2007 Section Day Time Location GSI 101 Friday 2:30-4 140 Lorch JB 102 Friday 11:30-1 1202 Ed. School Sue 103 Friday 1-2:30 140 Lorch Angus 104 Friday 10-11:30 1202 Ed. School Sue 105 Friday 2:30-4 140 Lorch Angus 106 Friday 10-11:30 1202 Ed. School Omar 107 Friday 1-2:30 140 Lorch JB 108 Friday 11:30-1 1202 Ed. School Omar 109 Friday 11:30-1 140 Lorch Brian Instructions Do NOT open this exam booklet until instructed to do so! Please take a moment to complete the identification information on the scantron. Indicate your NAME, discussion SECTION number, FORM number, and UM ID number. THIS IS WORTH TWO POINTS ON THE EXAM! The exam has 139 points and you will have 2 hours to complete the exam. Check that you have all 14 pages of the exam. Read the questions and these instructions carefully! Use the space provided in this booklet and the back of the pages to work out the answers to the multiple choice problems. Use the space provided on the actual page for the short answer questions. You can use only NON-graphing calculators. For multiple choice questions, you get 3 points for a correct answer, 0 points for a blank, and 0 points for a wrong answer. There are NO penalties for guessing. Sign the honor code below! Honor Code: I did not use any unauthorized aid on this exam. Signature: _____________________________________ 1
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Part I: Multiple Choice: (39 questions, 3 pts each=117 points) 1. Which of the following would NOT shift the US Aggregate Demand curve? a. A decrease in reserve requirements for US commercial banks. b. A rise in the US price level. c. A decrease in the US money supply. d. A deep recession in Europe. e. A cut in the US income tax. 2. Using the AD-AS model, which of the following COULD explain a short-run rise in the price level with no change in the level of unemployment? a. A rise in oil prices. b. An increase in government spending. c. An investment tax credit. d. An investment tax credit combined with a decrease in government spending. e. An investment tax credit combined with a rise in oil prices. 3. Which of the following changes is MOST LIKELY to shift the Long Run Aggregate Supply (LRAS) curve to the right? a. A permanent increase in the minimum wage to $10 per hour. b. A decrease in the expected price level. c. The introduction of new import quotas, which will remain in place forever. d. An increase in the capital stock. e. An expansion of the number of troops in the volunteer army. 4. In the AD-AS model, which of the following describes the transition from short- run to long run equilibrium? a.
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This test prep was uploaded on 04/02/2008 for the course ECON 102 taught by Professor Rossana during the Fall '08 term at University of Michigan.

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Dearforff_w07-F - Econ 102, Section 100 NAME: (print) _ UM...

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