midterm2 - Second Midterm Examination Economics 1101...

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

View Full Document Right Arrow Icon
Second Midterm Examination Economics 1101, Section 10 November 10, 2009 Name: TUiD: You have 1 hour 20 minutes to finish the exam. The exam consists of fifty (50) multiple-choice questions, each worth one (1) point for a total of 50 points. If you have any doubts about any question feel free to ask the examiner. This is a closed book, closed notes exam. Use of cell-phones, internet etc. is prohibited during the exam. Any person found cheating will earn an F grade for the course. 1. In the short run, increasing real GDP requires (a) a rise in the price level. (b) increasing the quantity of labor. (c) increasing the quantity of capital. (d) increasing leisure hours. 2. When a nation devotes more time to leisure activities, 3. The production function shows how . . . . . . . . . varies with . . . . . . . . . . 4. The labor market determines all of the following EXCEPT the 1
Image of page 1

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

View Full Document Right Arrow Icon
5. The quantity of goods and services that an hour of labor earns is defined as the (a) marginal product of labor. (b) money wage rate. (c) real wage rate. (d) supply of labor. 6. Full employment corresponds to 7. A minimum wage is set by . . . . . . . . . and can lead to a . . . . . . . . . of labor. 8. The labor force is the sum of the
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