Exam APUS ECON 201 WEEK 1 QUESTIONS WITH CORRECT ANSWERS VERIFIED AND GRADED A+

Exam APUS ECON 201 WEEK 1 QUESTIONS WITH CORRECT ANSWERS VERIFIED AND GRADED A+ Second Midterm Economics 201 Spring Quarter 2007 Mark Witte Northwestern University Do not turn this exam over or begin working until you are told to. You should keep the test questions. Only hand in the answer sheet. We will post scores and grades on Blackboard as soon as we can. Tests will be returned in TA sections. There will be no quiz this week, but the TAs will cover important material. Put your name on the answer sheet and circle your T.A. section! Hand in only the answer sheet. Each multiple-choice question is worth 4 points and has a single best answer. There is no guessing penalty so answer all the questions. The essay is worth 10 points and the graphing section is worth 10 as well. Please be thorough but concise. Verbose answers will not help you. Handing the exam in on time (by 12:20) will gain you a bonus of 4 points. Handing the exam in after 12:25 will cost you five points with the penalty rising after that. This exam covers Buchholz chapters 6 and 9, and Krugman & Wells chapters 7-13 and 15. Economics 201 Mark Witte Second Midterm Spring 2007 1. From Buchholz we know that Marx A. Taught economics in the German university system but was best known for his writing. B. Saw a firm’s profits and the pay rates its workers as being negatively related. C. Saw society through the lens of classes, where people generally saw their children rise up toward the next higher class over time. D. Felt that time spent studying history was wasted, and that the focus instead should be on describing the future. E. Depended heavily on Engels for help with his