Midterm 2 2005

Midterm 2 2005 - Spring 2005 Name: _ Principles of...

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Spring 2005 Name: __________________________ 1/5 Principles of Macroeconomics Midterm 2 You’ll have fifty minutes to complete this exam. Be sure to label all your curves and axes. If you have any questions during the course of the exam, feel free to ask me. Good luck! 1) A) Suppose the town of Chase, Ohio has just ten residents. The table below lists each of those ten residents, along with their current employment status. Use what you know about the federal government’s employment definitions to determine whether each of the residents is employed, unemployed, not in the labor force (NILF), etc. [10 points] Name Recent Work History Employment Status Georgia Mayor of Chase for the past two years. Works 60 hours/week. Don Stay-at-home dad. While his kids keep him busy, he hasn’t worked outside of the home for 12 years. Jane Struggling actress. While she’d love to find steady acting work, she only worked two hours last week, and didn’t work at all the six week before that. Greg Lost his job when the Polaroid plant closed two years ago. He wants a new job, and while he looked for a job diligently for more than a year, he
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Midterm 2 2005 - Spring 2005 Name: _ Principles of...

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