midterm110109vB

midterm110109vB - Name Student ID Section day and time...

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1 Name _________________________ Student ID ________________________ Section day and time _________________ Midterm 1 - Economics 101 (Fall 2009) You will have 45 minutes to complete this exam. There are 56 points. Version B. Multiple Choice: (16 points total, 2 points each) Choose the best answer and record in blanks below. 1_____ 2____ 3____ 4____ 5____ 6____ 7____ 8____ 1) Real GDP measures total a) production b) expenditure c) income d) all of the above 2) Which of the following government policies could help lower frictional/search unemployment in the U.S.? a) funding worker retraining programs b) lowering the legal minimum wage c) extending the number of weeks people can collect unemployment benefits d) all of the above 3) Which of the following could help explain a high natural rate of unemployment in Europe? a) generous unemployment insurance b) wage rigidity c) sectoral shifts due to new technology d) all of the above 4) If the U.S. has a rate of labor-augmenting technological progress of 2% per year (g=0.02), the Solow model implies that in steady state the level of capital stock per person is growing at ___ per year, and the real rental rate on capital is growing at ___ per year: a) 0%, 0% b) 0%, 2% c) 2%, 0% d) 2%, 2% 5) Which of the following produces a measure
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This note was uploaded on 04/06/2010 for the course ECON 0 at Penn State.

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midterm110109vB - Name Student ID Section day and time...

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