SHEPERD ECON 123 - SAMPLE SECOND EXAM (12 pages)

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SAMPLE SECOND EXAM



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SAMPLE SECOND EXAM

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Pages:
12
School:
Shepherd University
Course:
Econ 123 - Contemporary Economics

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PART I PART II 1 2 X CR TOTAL GRADE ECON 123 V1 SAMPLE SECOND EXAM NAME Please read all instructions carefully Put your name on the scantron as well as on this sheet Good luck TOTAL POINTS 100 PART I MULTIPLE CHOICE Answer all multiple choice questions on the BLUE SIDE of the scantron Using a 2 pencil darken the circle by the letter which best answers each question 1 The three major macroeconomic problems are a b c d 2 Debt deficits and taxation Unemployment inflation and taxation Unemployment falling production and deficits Unemployment falling production and inflation Which of the following is NOT a direct consequence of unemployment a b c d Higher inflation Individual hardship Lost output and production All of the above are consequences of unemployment 3 Which of the following types of unemployment is voluntary where the person chooses to leave her job a b c d Cyclical unemployment Frictional unemployment Structural unemployment None of the above 4 Lee lost her job because her employer moved his operations to China Ramon resigned from his job to look for work closer to his family a b c d Lee s unemployment is cyclical and Ramon s is frictional Lee s unemployment is structural and Ramon s is cyclical Lee s unemployment is structural and Ramon s is frictional Lee s unemployment is frictional and Ramon s is structural 2 5 The labor force consists of all persons a b c d 6 An unemployment rate of six percent means that six percent of the a b c d 7 Labor force is voluntarily unemployed Labor force is involuntarily unemployed Labor force is out of work and actively seeking employment Population is out of work and actively seeking employment The natural rate of unemployment occurs when unemployment is a b c d 8 Who are working regardless of their ages Capable of working regardless of their ages 16 years of age and older who are working 16 years of age and older who are working or actively seeking work Zero A level that includes only the frictionally and structurally



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