ECON 1120 Midterm: Econ 1120_2012Spring_prelim1_Makeup_withanswerkey_0327
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Econ 1120 intro macro spring-2012 march 15, 2012. There are two sections in this exam: part i: 15 multiple choice questions @ 3 points each, part ii: 3 short answer question (20 points) + 2 newspaper article questions (35 points, answer all questions. ________/45 (mc)_____/10(short essay 1) ______/10(short essay 2) _____/17(long essay 1)____ He is: now no longer counted as part of the labor force, a discouraged worker, frictionally unemployed, counted as unemployed, none of the above, suppose the supply of coffee is inelastic. 3: a small percentage change in the price leads to large percentage change in quantity demanded. Please answer question 6 and 7 using the following data about cookieland. And all oatmeal and raison produced are used to produce the oatmeal raison cookies: the nominal gdp in 2009 is ________; the nominal gdp in 2010 is _______________; The real gdp of 2009 using 2009 as a base year is__________; the real gdp of 2010 using.
