Fall_2007_Midterm_1

Fall_2007_Midterm_1 - Midterm I 75 minutes Econ 1102.30:...

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1 Midterm I 75 minutes Econ 1102.30: Principles of Macroeconomics Justin Barnette October 10, 2007 Name: _______________________________________________ On the following pages, please show all of your work. If you need more space, use the back of the page. Clearly state the location of your work/answers. Clearly highlight/circle solutions. Fully label all graphs. Read each question carefully and be sure to answer all parts of every question. When in doubt, write the formula for the solution. The formula alone is worth half the points for each part of the question. There should be 10 pages including this cover sheet.
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2 Question 1 (20 points) Match the following terms with the correct definition number from the last page of the exam. (You can go ahead and tear off the last page of the exam.) Aggregation Marginal Propensity to Consume (MPC) Cyclical Unemployment Multiplier Equilibrium Nominal GDP Final Goods and Services Productivity Frictional Unemployment Purchasing Power Gross Domestic Product (GDP) Real GDP per capita Human Capital Real Rate of Interest Inflation Recession Inflationary Gap Recessionary Gap Intermediate Good Stagflation
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3 Question 2 (14 points) Suppose that you are asked to calculate the CPI and inflation for the Greek Economy and you
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This note was uploaded on 01/28/2012 for the course ECON 1102 taught by Professor Someguy during the Fall '07 term at Minnesota.

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Fall_2007_Midterm_1 - Midterm I 75 minutes Econ 1102.30:...

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