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MT1MCVersionASol - ECO 320L Spring 2009 Professor Beatrix...

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ECO 320L Spring 2009 Professor Beatrix Paal Midterm 1 name: 2/11/2009 1. The most direct effect of an increase in the growth rate of average labor productivity would be an increase in A) the inflation rate. B) the unemployment rate. C) the long–run economic growth rate. D) imported goods. 2. During recessions, the unemployment rate ___________ and output ___________. 3. The highest and most prolonged period of unemployment in the United States over the last 125 years occurred during 4. From 1800 to 1940, the price level in the United States 5. If the price level was 100 in 1999 and 102 in 2000, the inflation rate was A) 102%. B) 20%. C) 2%. D) 0.2%. Version A Page 1
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