ECON 2HH3 Study Guide - Midterm Guide: Indifference Curve, Real Wages, Competitive Equilibrium
15 Jan 2019
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Instructions : please read these before beginning the exam: there are two parts of the exam: Part a: 30 multiple choice questions (30 marks) Answers to part b questions should be answered on the space provided for each question in the exam. And the front page of this exam only the answer sheet will be graded. Blank answer sheets will receive a zero: calculators are permitted during the exam. Part b (10) : government, the preferences of consumers. Answer: a: according to the lucas critique, changes in economic policy are likely to have important effects on, the available amounts of natural resources, microeconomic behaviour, international trade. Answer: b: suppose that gdp is equal to 1000, national saving is equal to 200, the current account deficit is equal to 100, and the government budget deficit is equal to 50. Answer: e: suppose that the ford truck plant in oakville, ontario, produces million worth of vehicles in a given year.
