Econ+101B+First+mid-term_2009

Econ+101B+First+mid-term_2009 - UNIVERSITY OF CALIFORNIA,...

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UNIVERSITY OF CALIFORNIA, BERKELEY Department of Economics ----------------------------------------------------------------------------------------------------------- - Course: Econ. 101B- Macroeconomics. Professor: Hamid Shomali Exam: First mid-term Date: October 1, 2009 ----------------------------------------------------------------------------------------------------------- - Multiple Choice questions have 3 points each. (Total 45 points) 1. If the economy were at a steady-state unemployment rate with a separation rate of 0.02 per month and a job-finding rate of 0.10 per month, and the labor force was 100 million, how many individuals would lose their jobs each month? a. 1.51 b. 1.67 c. 1.70 d. 1.75 2. The recent reduced demand for unskilled workers relative to skilled workers has led to ---------for unskilled workers in Europe compared to ------for unskilled workers in the US. a. unemployment; lower wages b. lower wages; unemployment c. more unionization; efficiency wages d. efficiency wages; more unionization 3. By paying efficiency wages, firms contribute to higher wait unemployment because they: a. increase the wage bill b. make workers work more c. keep the wages below the equilibrium level d. keep the wages above the equilibrium level 4. Workers unemployed as a result of wage rigidity are: a. actively searching for a job to match their skills b. not eligible to receive unemployment insurance benefits
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Econ+101B+First+mid-term_2009 - UNIVERSITY OF CALIFORNIA,...

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