Midterm_Exam_2009 - Economics W3213 Spring 2009 Bruce...

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Economics W3213 Spring 2009 Bruce Preston Mid-term Examination Instructions: This is a 70 minute examination with 70 points. To get full credit you must give a clear, concise, and correct answer, including all necessary calculations and economic reasoning. Notes, books and calculators are not permitted. Good luck! Short Answer Questions: 10 points each Indicate whether you think the following statements are true, false or uncertain. Support your answer by giving all necessary reasoning and calculations. Credit will not be given for a lucky guess. 1. Assume the labor market is initially in equilibrium and that wages change rapidly to en- sure equilibrium. The following are equivalent in terms of their qualitative implications for labor market equilibrium: (a) Equal pay laws increase female labor market participation. (b) There is a temporary increase in total factor productivity. wealth. 2. The states of New York and Utah have di/erent average durations of unemployment.
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This note was uploaded on 02/27/2011 for the course ECONOMICS 201 taught by Professor P during the Spring '11 term at Columbia College.

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Midterm_Exam_2009 - Economics W3213 Spring 2009 Bruce...

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