ECN 101 Study Guide - Final Guide: Phillips Curve, Keynesian Cross, Money Supply
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Name ______________________ student id __________________ ta or section___________ You will have 120 minutes to complete this exam. Please write answers to all 58 mc questions on your scantron. Section 1: (20 points total, 2 points each) record the best answer on your scantron. Mc#1) how could france lower the long run average level of unemployment: raise the legal minimum wage, raise unemployment insurance benefits, increase unionization of the labor force, increase the money supply, none of the above. Mc#2) if a country lowers its population growth rate, what will this do to the steady state level of output per person (assume no technological progress): rise, fall, no change, ambiguous from the given information. Mc#5) according to the keynesian cross model of aggregate expenditure, fiscal policy that raises government spending will affect output. ______ a tax cut of an equal size: more than b) less than, the same amount as, in the opposite direction as.
