2 EC 102 AA,BB, Fall 2023, Midterm 2, Version A (1)



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Jan 9, 2024





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ECON 102: Introductory Macroeconomic Analysis SECOND MIDTERM EXAM, Version A November 10, 2023 This exam contains 30 multiple choice questions. Identify the letter of the choice that best completes the statement or answers the question. Each question is worth an equal number of points. Be sure to answer questions on the bubble answer sheet provided. Any questions answered on the test question sheets will not be counted. Calculators are allowed. _______________________________________________ Please write your name on the test sheet and on the bubble sheet. VERY IMPORTANT : Write “A” in the space provided on the bubble sheet to indicate the version of your exam. Both the test sheet and the bubble sheet must be turned in at the end of the exam. _______________________________________________
Figure 17-1 1.
Refer to Figure 17-1. Suppose that the economy is currently at point A on the short-run Phillips curve in the figure above, and the unemployment rate at A is the natural rate. If the economy was to move to point C , which of the following must be true? a.
Aggregate demand must have decreased. b .
Short-run GDP at point C must be above potential GDP. c.
The Federal Reserve raised interest rates. d .
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