ECON304 - MidTerm02_Practice_KEY - F10

ECON304 - MidTerm02_Practice_KEY - F10 - Sonoma State...

Info icon This preview shows pages 1–3. Sign up to view the full content.

Sonoma State University Department of Economics ECN 304 Florence Bouvet Fall 2010 Practice Midterm 2- Answer Key Multiple Choice Questions: Choose the best answer. 1. Which ofthe following would be counted as unemployed according to official statistics? a. Tim, who worked, but worked only 35hours lastweek b. Mary, who iswaiting forher newjob tostart c. Bev, who neither has ajob nor islooking forone d. Noneofthe above would becounted as unemployed. 2. Ifvelocity isconstant and, inaddition, real GOP grows at aconstant rate: 3. The natural rate of unemployment is 4. During the past 50years the natural rate of unemployment inthe United States _----''-- during the 1970s and 1980s, compared to the 1950sand 1960s,and then __ .,.-during the 1990s,compared to the previous two decades.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

5. Inflation tax means that: a. Asthe price level rises, taxpayers are pushed into higher tax brackets. b. As the price level rises, the real value of money held by the public decreases. c. Astaxes increase, the rate of inflation also increases. d. Inahyperinflation, the chief source oftax revenue isoften printing money. 6. All of the following are causes of structural unemployment except: 7. How can the Solow model explain the trend of growth inoutput per person observed inu.S. data over the lastcentury or longer?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern