Fall-2011 –November 9, 2011

Fall-2011 –November 9, 2011 - Econ 1120...

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Econ 1120 – INTRO MACRO – Fall-2011 –November 9, 2011 Make-Up PRELIM #2 (Wednesday) PRINT YOUR NAME: ____________________________________ Your C.U. Netid: _____________ YOUR C.U. STUDENT NUMBER: ____________________________ Check YOUR TA’s NAME : _____________TA = Minwook Kang (Tuesday sections) _____________TA = Mirinda Lee Martin (Wednesday sections) _____________TA = Lingwen Zheng (Thursday sections) _____________TA = Yu Zhang (Friday sections) INSTRUCTIONS: There are two sections in this exam Part I: 15 multiple choice questions @ 3 points each Part II: 2 short answer question (17 points) + 2 Newspaper Article questions (19 points for each) ANSWER ALL QUESTIONS. TOTAL POINTS = 100. TOTAL TIME = 90 minutes. Prelim2 score weights 27.5% of final grade. Please write down your answers in different exam books with following order. o Multiple choice questions in exam book1. o Short Essay 1 in exam book2 o Short Essay 2 in exam book3 o Long Essay 1 in exam book4 o Long Essay 2 in exam book5 AGAIN, please…. 1
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PRINT YOUR NAME: ____________________________________ Your C.U. Netid: _____________ YOUR C.U. STUDENT NUMBER: ____________________________ _____________TA = Minwook Kang (Tuesday sections) _____________TA = Mirinda Lee Martin (Wednesday sections) _____________TA = Lingwen Zheng (Thursday sections) _____________TA = Yu Zhang (Friday sections) GRADING ---------------------------------------------------------------------------------------------------------- ________/ 45 (mc) ______/ 17 (short essay 1) ______/ 19 (long essay 1) ______/1 9 (long essay 2) TOTAL: ___________/100 -------------------------------------------------------------------------------------------------------------------------- 2
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Part I: Multiple Choice. Refer to the following graph and answer the following 3 questions. 1. If the economy is at Point C but policy makers think that it is at Point B, this is a) response lag b) implementation lag c) recognition lag d) none of above e) all of above 2. If policy makers decide on a policy at point t3 but it does not affect the economy until period t5, then the policy choice is likely to be a) destabilizing b) stabilizing c) optimal d) automatically stabilizing 3. Increasing taxes as a response to growing deficits during a recession is an example of a) an automatic destabilizer b) an automatic stabilizer c) discretionary economic policy d) response lags e) none of the above 4. Under the classical view of the labor market, what must be true about the unemployment level? a) It is always zero 3
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b) It is sometimes positive and sometimes zero depending on the state of the economy c) It is always positive d) Not enough information to define 5. Suppose that at the current interest rate, there is an excess supply of money. Given this information, we know that there will be pressure for a) bond prices to decrease and the interest rate to increase. b)
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Fall-2011 –November 9, 2011 - Econ 1120...

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