Practice_mid-term_ii_10S_

Practice_mid-term_ii_10S_ - ECON2010 PRACTICE MID-TERM II...

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ECON2010 PRACTICE MID-TERM II Name__________________________________   1)  1
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In the  figure  above,  LRAS1  and  SRAS1  denote  LRAS  and SRAS  in year 1,  while  LRAS2  and  SRAS2  denote  LRAS  and SRAS  in year 2.  Given the  economy  is at point  A in year  1, what is  the  growth  rate in  potential  GDP in  year 2? 
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1) 
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_______  A) 
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10% 
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B) 
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9.1% 
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C) 
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8% 
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D)  1 2  
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Given the  economy  is at point  A in year  1, what is  the  inflation  rate  between  year 1 and  year 2? 
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2)  ____ ___ 
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3.0% 
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B) 
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2.7% 
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C) 
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.9% 
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D)  1 .
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If the U.S.  economy  is  currently  at point  N, which  of the  following  could  cause it to  move to  point K? 
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3)  ____ ___  H o u s e h o ld  w ea lth  ris es.  Th firm's cash flow rises  as profits rise. 
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Government  expenditures increase.  D) 
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Households  expect future income to decline.      4) 
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Refer to  Figure  12 - 1.  Which of  the points  in the  above  graph are  possible  long run  equilibria
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4)  ____ ___ 
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A and D 
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B) 
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B and D 
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C) 
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A and B 
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D)  A   
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This note was uploaded on 01/16/2012 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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Practice_mid-term_ii_10S_ - ECON2010 PRACTICE MID-TERM II...

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