Class Notes (1,100,000)
US (500,000)
UCSD (8,000)
ECON (300)
Lecture 4

ECON 132 Lecture 4: Quiz 1 Solution Guide for MidtermExam


Department
Economics
Course Code
ECON 132
Professor
Richard Carson
Lecture
4

This preview shows half of the first page. to view the full 1 pages of the document.
Name_________________________
StudentNumber_______________________
ECON132:QUIZ1(CORRECTANSWERINBOLD)
1.Oneofthethreemajorproducersofoilintheworldis:
a.Iraq  b.RUSSIA  c.UnitedKingdom  d.Venezuela
2.AlmostallrecessionsintheUnitedStatessinceWorldWarIIhavebeenassociatedwith:
a.taxincreases b.laborunionstrikes c.oilpricespikes d.electricitypricespikes
3.TheauthorofyourmainreadingonmacroeconomicimpactswhoisaUCSDEconomicsprofessoris:
a.GrahamElliott b.MelissaFamulari c.JamesHamiltond.MarkJacobsen
4.TheshortrunpriceelasticityforgasolineintheUnitedStatesisgenerallyconsideredclosestto:
a.‐2.0 b.‐0.5  c.0 d..5
5.Largeincreasesinoilpricestendtocausehouseholdstodelaythepurchaseof:
a.newautomobiles b.cellphoneservice c.coffee d.factories
6.OilisabiggerfractionofimportsforGermanythanitisforMexico.
TRUE FALSE
7.TheArab‐IsraeliWarin1973causedamajordisruptiontotheworldoilsupply.
TRUE FALSE
8.Spainisoneoftheworld’smajoroilproducer.
TRUE FALSE
9.AlaborstrikeatNigerianoilrefineriesislikelytocausearecessionintheUnitedKingdom.
TRUE FALSE
10.1bluebarrelofoil(bbl)equals:
a.thenumberofBTUsinashorttonofcoal b.1000lumens c.42gallons d.100gallons
You're Reading a Preview

Unlock to view full version