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Econ 2105 sample fin - ECON 2105 Sample Final Exam for Chapters 3 5 10-11 13-15 FINAL EXAM DATE December 13th 2:50pm to 5:40pm FORMAT 45-50

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Page 1 ECON 2105 Sample Final Exam for Chapters 3, 5, 10-11, 13-15 FINAL EXAM DATE: December 13th, 2:50pm to 5:40pm FORMAT: 45-50 Multiple Choice Questions ****NO MAKE-UP FINAL EXAMS WILL BE GIVEN*** Name: __________________________ Date: _____________ 1. Raclette is a popular wintertime dish in Switzerland. It is essentially melted Raclette cheese over boiled new potatoes. If the price of this cheese decreased, we would expect: A) an increase in demand for the cheese and for new potatoes. B) an increase in demand for the cheese. C) an increase in demand for new potatoes. D) there to be no effect on the demand for either of the Raclette ingredients, since this is a traditional dish and its consumption does not depend on the prices of the ingredients. 2. Negative inventory investment occurs when companies: A) reduce their inventories by decreasing production. B) add to their inventories when sales fall. C) reduce their inventories when sales increase. D) add to their inventories by increasing production. 3. To _______ the money supply, the Fed could ________. A) increase; conduct open-market purchases B) increase; decrease the money multiplier C) decrease; lower the discount rate D) decrease; lower the reserve requirements 4. Over time, contractionary monetary policy ________ nominal wages and causes the short-run aggregate supply curve to shift ________. A) lowers; rightward B) lowers; leftward C) raises; leftward D) raises; rightward
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Page 2 Use the following to answer question 5: Figure: Market for Roses 5. (Figure: Market for Roses) In the figure, producer surplus with international trade would be area(s): A) W + X + Y. B) Y. C) X + Y + Z. D) X + Y. 6. Consider the supply curve for cotton shirts. An increase in the price of cotton will: A) decrease the supply of cotton shirts. B) not shift the supply curve for cotton shirts. C) decrease the demand for cotton shirts. D) increase the supply of cotton shirts. 7. In an open economy, savings can come from all of the following except: A) consumption. B) government sources. C) domestic sources. D) foreign sources.
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Page 3 Use the following to answer questions 8-9: Figure: Market for Loanable Funds II 8. (Figure: Market for Loanable Funds II) A decrease in government borrowing will shift the demand for loanable funds to the: A) right and decrease the interest rate. B) right and increase the interest rate. C) left and decrease the interest rate. D) left and increase the interest rate. 9. (Figure: Market for Loanable Funds II) An increase in savings by the private sector will shift the supply of loanable funds to the: A) left and decrease the interest rate. B) left and increase the interest rate. C) right and decrease the interest rate. D)
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This note was uploaded on 01/30/2012 for the course ECON 2105 taught by Professor Iacopetta during the Fall '08 term at Georgia Institute of Technology.

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Econ 2105 sample fin - ECON 2105 Sample Final Exam for Chapters 3 5 10-11 13-15 FINAL EXAM DATE December 13th 2:50pm to 5:40pm FORMAT 45-50

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