ECON 1120 Midterm: Econ 1120_2012Spring_prelim1_regular_withanswerkey_0327
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Econ 1120 intro macro spring-2012 march 1, 2012. There are two sections in this exam: part i: 15 multiple choice questions @ 3 points each, part ii: 3 short answer question (22 points) + 2 newspaper article questions (33 points, answer all questions. ________/45 (mc)______/8(short essay 1) ______/8(short essay 2) ______/6(short essay 3) Part i: multiple choice: when government sets floor price higher than the market equilibrium price, the policy is. Vi. through open market operation, by selling bonds to the public through an open market operation, by purchasing bonds from the public. 3: a used car company, the car-max, purchased a used car for ,000 in january, 2012 and sold it to bob for ,000 in march, 2012. How much of value is added in 2012 gdp through the sale of the car to bob: sh, ,000, ,000, ,000, an economy experiences inflation and a decrease in real gdp at the same time.
