Economics 100 third exam B f 2008

Economics 100 third exam B f 2008 - Third Exam B Economics...

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Third Exam B Economics 100 November 7, 2008 _________________________________ Last name First name Please fill in your name above and on the bubble sheet. Write in the relevant spaces and fill in the relevant bubbles. Please put your last name first. Each of the multiple-choice questions is worth three points. There are a total of 97 points on the exam. Please make sure that you have seven pages. 1. Once the economy has moved to a short-run equilibrium, in which instance would the natural adjustment to a long-run equilibrium take the least amount of time? a. after an increase in spending b. after a decrease in spending c. after a negative supply shock d. All will take approximately the same amount of time. 2. A given change in monetary policy will cause the greatest decrease in inflation if the economy is experiencing _______ (large/small) amounts of unemployment and if banks normally keep ________(large/small) amounts of excess reserves. a. large; large b. large; small c. small; small d. small; large 3. The Federal Reserve purchases $50 billion of bonds. Real GDP will change by the greatest amount if employment is relatively ___________ and if income tax rates are ____________. a.
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This note was uploaded on 12/19/2009 for the course ECON ECON 100 taught by Professor Stephenbuckles during the Spring '09 term at Vanderbilt.

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Economics 100 third exam B f 2008 - Third Exam B Economics...

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