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Unformatted text preview: Spring 2007 Name: __________________________ Circle one: 10:10 section, 11:10 section 1/5 Principles of Macroeconomics Midterm 2 Youll 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) Demographers use population pyramids as an easy way to visually depict a countrys age distribution. The diagram takes its name from the shape you would normally expect to see. For instance, consider this very typical example: Interestingly, because of a spike in births following World War II (i.e., the Baby Boom), Americas current age distribution looks nothing like the above example. Here is Americas 2007 population pyramid: This figure shows that within the next ten to twenty years, the U.S. will experience an unprecedented surge in workers retiring from the labor force. surge in workers retiring from the labor force....
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