Deardorff,_w06-2,_no_answers

Deardorff,_w06-2,_no_answers - Econ 102 Exam II Econ...

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Econ 102 Lecture 100 E x a m I I F o r m 1 Econ 102/100 March 16, 2006 Section Day Time Location GSI 101 F 2:30-4:00 142 Lorch Aneeqa 102 F 11:30-1:00 269 Dennison Aneeqa 103 F 1:00-2:30 316 Dennison Jooyun 104 F 10:00-11:30 173 Lorch Jooyun 105 F 2:30-4:00 216 Dennison Sue 106 F 10:00-1:30 3460 Mason Liyun 107 F 1:00-2:30 325 Dennison Liyun 108 F 11:30-1:00 221 Dennison Sue 109 F 11:30-1:00 3460 Mason Seb Do NOT open this exam booklet until instructed to do so! Complete the identification information on the scantron. Indicate your NAME, SECTION NUMBER, FORM NUMBER, and UMICH ID. This is worth TWO points on the exam. The exam has 100 points and is designed to take about 60 minutes to complete. However, you will have 80 minutes. Check that you have all 13 pages of the exam Read the questions carefully. Use the space provided in this booklet and the back of the pages to work out answers to the multiple choice questions. Use the space provided on the actual page for the short answer questions. You can only use 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. Name: ______________________________________ UM ID#: ______________________________________ Signature: ______________________________________
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Part I: Multiple Choice: (26 Questions, 3 pts each=78 pts) Select the best answer among the given choices 1. Based on the following information, what would be the increase in the unemployment rate be if the discouraged workers were categorized as Unemployed? Total population 300,000,000 Adult population 200,000,000 Adult population who have given up on finding work 30,000,000 Number employed 140,000,000 Number unemployed 10,000,000 a) 15.6% higher b) 20.0% higher c) 13.3% higher d) 16.7% higher e) None of the above, the unemployment rate would decrease. 2. Which of the following statements is correct? A. The natural rate of unemployment includes frictional unemployment, structural unemployment and cyclical unemployment. B. In ordered to be considered employed, a person must have worked full time during the previous month. C. The unemployment rate underestimates the hardship in a weak labor market because of discouraged workers. D. The labor-force participation rate has been greatly increased over the last 50 years for women, but not for men. a) A and C b) B and C c) C and D d) A, B, and D e) B, C, and D 1
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3. Which of the following would NOT cause the price level to rise according to the quantity theory model? 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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Deardorff,_w06-2,_no_answers - Econ 102 Exam II Econ...

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