ECON 1120 Midterm: 2006makeupfirstprelimanswers
Document Summary
This exam has 5 pages: 20 multiple choice questions, 5 short answer questions and 3 essay questions. Answer: c: the tomatoes picked by mexican workers in california is part of ___. The salary of those workers, repatriated to mexico is part of mexican ___ but not mexican ___: us gdp; gnp; gdp, us gdp; gdp; gnp, mexican gdp; gnp; gdp, mexican gnp; gnp; gdp. Answer: a: the drug traffic between colombia and the us is included in, colombian gdp, us gdp, us gnp, none of the above. Answer: b: decreasing interest rates are likely to ____ spending and increasing income is likely to ____ spending, increase, decrease, decrease, increase, increase, increase, decrease, decrease. Answer: c: in a closed economy with no government, only when ___ equals ____ there will be equilibrium, unplanned investment, savings, planned consumption, savings, planned investment, savings, planned investment, aggregate output.
