ECON 102 Midterm: ECON 102 Midterm 1 Solutions 2007

• School: U of M
• Department: Economics
• Course: ECON 102
• Professor: All

Document Summary

Instructions: do not open this exam booklet until instructed to do so, please take a moment to complete the identification information on the scantron. Indicate your name, discussion section number, form number, and um id number. This is worth two points on the exam: the exam has 100 points and is designed to take about 60 minutes to complete. There are no penalties for guessing: sign the honor code below! Honor code: i did not use any unauthorized aid on this exam. Part i: multiple choice: (26 questions, 3 pts each = 78 pts) Pick the best answer among the given choices: suppose gdp per worker is held constant. 2: using data from the following table, compute the real gdp for the year 2003 using the year 2005 as the base year. Silverware: , , , , , using data from the following table, compute the gdp deflator for the year 2005 using the year 2003 as the base year.