Exam III - Pink - Econ 252 Midterm 3 Pink November 15th,...

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Econ 252 Midterm 3 Pink November 15 th , 2007 Name ( Please PRINT ): Last Name First Name Student ID #: Place a checkmark next to your section number then record the 4-digit section number on the scantron. 0101 Monday/Wednesday/Frida y 11:30 – 12:20 p.m. 0201 Monday/Wednesday/Frida y 12:30 p.m. – 1:20 p.m. No graphing calculators are allowed. No brimmed hats are allowed. If you are wearing a hat with a brim, turn the brim to the back. All cell phones are to be turned off and put away. You will be in danger of receiving a zero on the exam if your cell phone is on or not put away Do not begin the exam until the instructor tells you to. While waiting, fill out your scantron completely and accurately and read the remaining instructions on this page. If any suspicious behavior is noted, you will be moved and may also receive a zero on the exam. Cheating will not be tolerated. Midterm 3 contains 33 questions on 5 pages. Please be sure that you have 5 pages in your test booklet. If not, please inform the instructor before you begin the exam. Please mark all answers on BOTH the test booklet and the scantron. Once you are finished, please take both your test booklet AND answer sheet to the proper station. 1. Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called _______________ unemployment a) cyclical b) structural c) frictional d) the natural rate of 2. Most spells of unemployment are _______. Most unemployment observed at any given time is ________ term. Econ 252 Fall 2007 Page 1 of 5 Midterm 3 Pink
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a) long; long b) long; short c) short; long d) short; short 3. Discouraged workers are: a) not counted as part of the adult population or as part of the labor force. b) counted as part of the adult population, but not as part of the labor force. c) are counted as part of the adult population, and as unemployed. d) None of the above are correct. 4. The Congressional Budget Office estimates that the natural rate of unemployment is about _____ percent. a) 3.9 b) 4.5 c) 5.2 d) 5.9 5. Efficiency wages paid ______ their equilibrium level creates ________ unemployment. a)
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This test prep was uploaded on 04/07/2008 for the course ECON 252 taught by Professor Robertholand during the Fall '08 term at Purdue University-West Lafayette.

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Exam III - Pink - Econ 252 Midterm 3 Pink November 15th,...

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