ECON 1120 Midterm: Econ 1120_2011fall_prelim2_makeup_with_AnswerKey
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Econ 1120 intro macro fall-2011 november 9, 2011. 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. ________/45 (mc) ______/17(short essay 1) ______/19 (long essay 1) ______/19 (long essay 2) Refer to the following graph and answer the following 3 questions. It is sometimes positive and sometimes zero depending on the state of the economy. It is always positive: not enough information to define. 3: suppose that at the current interest rate, there is an excess supply of money. An income tax rate _________will cause consumption to _______ and labor supply to. _______; meanwhile, a(n) __________in transfer payments will cause consumption to. Increase; decrease; decrease; decrease; decrease: decrease; increase; increase; decrease; increase, decrease; increase; decrease; increase; increase. Refer to the following figure and answer the following 2 questions. l e v e.
