Past Exam for ECON 2006 - Principles of Economics with McLeod at Virginia Tech (VT)

Exam Information

Material Type:Exam
Class:ECON 2006 - Principles of Economics
University:Virginia Polytechnic Institute And State University
  • Inventory Changes
  • Increase Output
  • Crowding In
  • Unit of Account
  • Explanation
  • Decrease Increase
  • Opportunity
  • Increase in Demand
  • New Technology
  • Reserve Ratio
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Sample Document Text

Econ 2006 FORMA Final Exam . f '1' , ,~. f I " ... ""'~ . , '. " r \00 .'. . McLeod Multiple Choice, Please choose the best answer to each of the following questions (2 points each), &Ch of the followi ng ;, on examp Ie of co nuacti 0 nary monet4ry poUcy' a) An increase in income taxes. XA decrease in income taxes. gt, Artincrease in bond prices " .. . d:rAn increase in the discount rate. . 1\ decr~ in the reserve req~ement ratio. '~'1f" household is in poverty if a) all of its members are unemployed b) its income is in the bottom 5th in the nation .2. it cannot afford health insurance })} . @ its income is less than 3 times its food budget e) it has collected ll.IIemployment benefi!S for 2 consecutive years . , . ? li"Jou are given the following information for the production and prices in an economy for two Vet5nsecutive years: . . Good A Good B ~'!I~' ') r Prices in Yt;ar 1 Quantities in Year 1 $1;:. 'LU? 20 ~t $2 ~25 Prices in Year 2 S4~.....

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