ECON1002 Mid Test Paper

ECON1002 Mid Test - Lecture Stream Last Name First Name Student Number UNIVERSITY OF SYDNEY ECON1002 INTRODUCTORY MACROECONOMICS Mid-semester Test

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Lecture Stream: ___________________________________________ Last Name: ______________________________________________ First Name: ______________________________________________ Student Number: __________________________________________ UNIVERSITY OF SYDNEY ECON1002 INTRODUCTORY MACROECONOMICS Mid-semester Test 16 September 2010 Instructions: _______________________________________________________________________ Time allowed : 60 minutes (plus 5 minutes reading time). The exam consists of 2 sections. Section I includes 10 multiple choice questions worth 1 mark each. To answer in this section, mark the letter representing the best response on the accompanying multiple choice answer sheet. You must use a pencil for the machine to be able to read your answer. Section II includes 2 short answer questions worth 20 marks in total. You should answer all questions. Your answer should be given in the space provided right below the questions. Any answer written outside the space provided will not be marked. That is, your answers must be succinct (i.e. short and clear) This is a closed book test. Non-programmable calculators may be used. No other aides are allowed. This paper should be returned at the end of the exam. The exam may NOT be removed. ___________________________________________________________________________________ Good luck
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2 SECTION I: A nswer all 10 questions on the computer answer sheet. 1. If a large number of employed workers retire from their jobs: a. the unemployment rate falls and the labour force participation rate rises. b. the unemployment rate falls and the labour force participation rate falls c. the unemployment rate rises and the labour force participation rate rises d. the unemployment rate rises and the labour force participation rate falls 2. Use the following data to calculate GDP: consumption = $4000; gross investment = $1200; government purchases = $1000; net exports = –$80; transfer payments = $680; a. GDP = $6800 b. GDP = $6120 c. GDP = $5440 d. GDP = $6280 3. Consider the production and price data in the tables below. Taking 2009 as the base year, which of the
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This note was uploaded on 12/14/2010 for the course ECON 1002 taught by Professor Markmelatos during the Three '10 term at University of Sydney.

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ECON1002 Mid Test - Lecture Stream Last Name First Name Student Number UNIVERSITY OF SYDNEY ECON1002 INTRODUCTORY MACROECONOMICS Mid-semester Test

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