Page 1 of 17
ECON 201: Introduction to Macroeconomics
Final Exam
December 5, 2011
NAME: _________________________________
Circle your TA’s name: Agustin Brian Meysam
Circle your section time: 9 a.m. 3 p.m.
INSTRUCTIONS:
1. The exam lasts 2 hours.
2. The exam is worth 120 points in total: 45 points for the multiple choice questions (Part A), and
75 points for the six analytical problems (Part B).
3. Write your answers for part A (the multiple choice section) in the blanks below. You won’t
get credit for circled answers in the multiple choice section. There is no penalty to guessing, so
be sure to answer all of them.
4. Place all of your answers for part B in the space provided.
5. You must show your work for part B questions. There is no need to explain your answers for the
multiple choice questions.
6. Calculators are permitted. Books, notes, reference materials, etc. are prohibited.
7. Good luck!
PART A: Multiple Choice Problems. Answer multiple choice questions in the space provided
below. PLEASE USE CAPITAL LETTERS.
1 11 21 31 41
2 12 22 32 42
3 13 23 33 43
4 14 24 34 44
5 15 25 35 45
6 16 26 36
7 17 27 37
8 18 28 38
9 19 29 39
10 20 30 40
MC Q1 Q2 Q3 Q4 Q5 Q6 Total
Page 2 of 17
Part A. Multiple Choice Questions (45 points)
1. Money is
A) backed by gold in Fort Knox.
B) the same as income.
C) the value of all coins and currency in circulation at any time.
D) anything that is generally accepted as a medium of exchange.
2. The development of money as a medium of exchange has facilitated the expansion of trade because
A) holding money increases people's income.
B) no other mediums of exchange are available.
C) money eliminates the "double coincidence of wants" problem.
D) holding money increases people's wealth.
3. The price of bonds and the interest rate are
A) not related.
B) positively related.
C) negatively related.
D) sometimes positively related and other times negatively related, depending on the bond payments.
4. As the interest rate falls, people hold ________ money instead of bonds because the opportunity cost of
holding money has ________.
A) more; fallen
B) more; risen
C) less; fallen
D) less; risen
5. The lecture and readings explain the recent rise in food prices by
A) Subsidies to ethanol
B) Economic growth in China
C) Economic growth in the US
D) Quotas on corn imports
E) A) and B)
F) A) and D)
6. An example of a contractionary monetary policy is
A) an increase in the required reserve ratio.
B) a reduction in the taxes banks pay on their profits.
C) a decrease in the discount rate.
D) the Fed buying government securities in the open market.
7. Which of the following sequence of events follows an expansionary monetary policy?
A) r↓ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
B) r↑ ⇒ I↑ ⇒ AE↓ ⇒ Y↑.
C) r↑ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
D) r↓ ⇒ I↑ ⇒ AE↑ ⇒ Y↑.
Page 3 of 17
.
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 10.docxamrit47
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par score
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par
Name:___________________________________ Banner:__________________________________
1) Suppose you decide to attend summer school and that this is considered a rational choice. When making this
choice,
A) you have made a positive statement.
B) you have used the ceteris paribus assumption.
C) you must have considered the social interest.
D) you must ignore the problem of scarcity.
E) you considered the marginal cost and marginal benefit of your choice.
2) The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure and investment.
B) wages, rent, interest, and profit.
C) consumption expenditure, investment, government expenditure on goods and services, and net exports
of goods and services.
D) consumption expenditure.
E) consumption expenditure, investment, and government expenditures.
3) The largest expenditure category in the United States is
A) net exports of goods and services.
B) investment.
C) wages.
D) consumption expenditure.
E) government expenditure on goods and services.
4) Economic growth is a sustained expansion of production possibilities, as measured by the increase in
________ over time.
A) population
B) the price level
C) inflation
D) employment
E) real GDP
5) The "value of money"
A) is the quantity of goods and services that a unit of money can buy.
B) increases during inflationary periods.
C) is directly related to the price level.
D) increases during economic expansions.
E) is determined by Fed regulations.
6) If the quantity of money supplied ________ the quantity demanded, in the long run the value of money
________.
A) exceeds; falls as people spend their surplus money
B) is less than; does not change unless the Fed increases the money supply
C) equals; equals zero
D) is less than; falls as people spend their surplus money
E) exceeds; rises as people buy bonds
7) Inflation is a tax because as the government ________ the quantity of money, the price level ________, and
the purchasing power of households' money ________.
A) decreases; rises; decreases
B) decreases; falls; decreases
C) increases; rises; decreases
D) does not change; rises; increases
E) increases; rises; increases
Figure 3-1
8) Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be
represented by a movement from
A) B to A. B) A to B. C) D2 to D1. D) D1 to D2.
9) Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) D2 to D1. B) B to A. C) A to B. D) D1 to D2.
10) Suppose that when the price of raspberries increases, Lonnie increases his ...
1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
Final Exam ECON 201 OL4 US2 Fall 2014I. MULTIPLE CHOICE (40 ques.docxmydrynan
Final Exam ECON 201 OL4 US2 Fall 2014
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best completes
the statement or answers the question.
1) ________ is a situation in which resources are limited in quantity and can be used in different ways. 1) _______
A) Choice B) Economics
C) Supply and demand D) Scarcity
2) The single largest expenditure component in GDP is: 2) _______
A) consumption expenditures. B) private investment expenditures.
C) net exports. D) government purchases.
3) In the circular flow diagram, the different payments made by firms to households are: 3) _______
A) rent on office and factory buildings. B) interest on borrowed money.
C) wages and salaries. D) all of the above.
4) ________ is commonly defined as six consecutive months of declining real GDP. 4) _______
A) A recession B) An expansion C) A peak D) A trough
5) If gross investment in 2009 is $600 billion and depreciation in 2012 is $50 billion, net investment in 2012 is: 5)
_______
A) $600 billion. B) $50 billion.
C) $550 billion. D) none of the above.
6) The number of people classified as employed is 220,000 and the number of people classified as unemployed is 30,000.
The size of the labor force: 6) _______
A) equals 250,000.
B) equals 200,000.
C) equals 300,000.
D) cannot be determined from this information.
7) Unanticipated inflation arbitrarily redistributes income because: 7) _______
A) medical costs rise faster than health insurance premiums.
B) nominal interest rates fall below real interest rates.
C) actual tax revenue decreases and so do government subsidies.
D) people forecast relative prices incorrectly and either gain or lose purchasing power.
8) A ʺshoe‐leather costʺ is the cost associated with: 8) _______
A) trying to reduce holdings of cash when there is inflation.
B) changing price lists when there is inflation.
C) designing a new basketball sneakers when there is inflation.
D) buying new shoes when there is inflation.Table 6.11
9) Refer to Table 6.11. If 1999 is the base year, the price index in 2001 is: 9) _______
A) 100. B) 1998. C) 121.7. D) 138.7.
10) Refer to Table 6.11. If 1999 is the base year, then the inflation rate (i.e., the growth rate of the price index) between 1999
and 2000 is: 10) ______
A) 121.7 percent. B) zero percent. C) 2.17 percent. D) 17.8 percent.
Figure 8.1
11) Refer to Figure 8.1. If the saving rate is s2, the economy reaches the long run equilibrium at: 11) ______
A) pt. E. B) pt. A.C) pt. D. D) pt. C.
12) If the economy experiences an increase in the amount of capital stock per worker, then we say that the economy is
experiencing: 12) ______
A) capital deepening. B) capital depreciation.
C) capital widening. D) technological progress.
13) Using a production possibility curve, a shifting of the curve outward illustrates: 13) ______
A) economic growth. B) a lower level of production.
C) a decrease in the unemployment rate.D) fewer inputs.
14) Steel rod prices are an example of: 14) ______
A) ...
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
1.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments?
A) The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unused resources. The vertical segment reflects the full employment of all resources.
B) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segment reflects the increasing pressure on the price level as firms bid for resources.
C) The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid for resources. The vertical segment reflects the availability of unused resources.
D) The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
E) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
2.
Fiscal policy is government action to influence aggregate demand and in turn to influence the level of real GDP and the price level, through:
A) expanding and contracting the money supply.
B) regulation of net exports.
C) changes in government spending and/or tax revenues.
D) encouraging businesses to invest.
3.
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A) Benefits-received.
B) Inexpensive-to-collect.
C) Ability-to-pay.
D) Fairness of contribution.
4.
Exhibit 14-6 Aggregate supply curve
nar004-1.jpg
In Exhibit 14-6, the aggregate supply curve becomes vertical at GDP = $1,200 because:
A) there are no more workers available at any wage rate to increase real GDP.
B) the price level remains constant.
C) the only workers available would demand higher wage rates.
D) the economy is experiencing low employment and low production.
E) the Treasury is no longer allowed to explain away the deficit with creative accounting
5.
Exhibit 14-8 Aggregate demand and supply
nar005-1.jpg
In Exhibit 14-8, if aggregate demand shifts from AD3 to AD4, real GDP will:
A) rise from $7.0 to $8.0, and the price level will rise from 120 to 140.
B) rise from $7.0 to $8.0, and the price level will rise from 120 to 170.
C) rise from $7.0 to $8.0, and the price level will rise from 100 to 140.
D) not change, and the price level will rise from 120 to 140.
E) rise from $4.0 to $8.0, and the price level will rise from 120 to 140.
6.
The m.
LOYOLA MARYMOUNT UNIVERSITY Econ 120 – Macroeconomics E.docxSHIVA101531
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
1
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
Multiple Choice (2 points each)
1. The spending multiplier is equal to:
A) MPC / MPS.
B) 1 / (1 – MPS).
C) MPC + MPS.
D) 1 / (1 – MPC).
2. If the marginal propensity to consume is 0.75 and the federal government increases spending by $100 billion,
the income expenditure model would predict that real GDP will increase by:
A) $100 billion.
B) $750 billion.
C) $400 billion.
D) $300 billion.
3. The money demand curve is:
A) downward-sloping because the opportunity cost of holding money is inversely related to the interest rate.
B) downward-sloping because the opportunity cost of holding money rises as the interest rate rises.
C) downward-sloping because the opportunity cost of holding money rises as the interest rate falls.
D) upward-sloping because the opportunity cost of holding money rises with the interest rate.
Figure: Policy Alternatives
4. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government increases
government spending, the result will likely be
A) an increase in unemployment.
B) a decrease in interest rates.
C) inflation.
D) deflation.
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
2
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
5. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government does not
intervene, the result will likely be
A) a shift of AD1 to the left.
B) a shift of SRAS1 to SRAS2.
C) a shift of LRAS to the left.
D) no change in AD or SRAS.
6. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government decides to
intervene, it would most likely
A) increase taxes.
B) decrease the money supply.
C) increase government spending.
D) decrease government spending.
7. In the long run, an increase in AD will result in:
A) no changes in the aggregate price level.
B) no changes in the aggregate output level.
C) increases in both the aggregate price level and the aggregate output level.
D) increases in the aggregate price level but no changes in the aggregate output level.
8. Starting from its potential output, an economy's government increases spending. In the long run, this
economy:
A) will produce at an output level that is greater than its potential output.
B) will produce at its potential output.
C) will produce at an output level that is below its potential output.
D) will produce at its potential output level, but at a lower aggregate price level.
9. In the long run, the aggregate price level falls. This could result from:
A) a leftward shift in AD.
B) a rig ...
1. Carolyn spends $2.50 for a hamburger at a restaurant. Which.docxjackiewalcutt
1. Carolyn spends $2.50 for a hamburger at a restaurant. Which of the following would be included in the gross domestic product?
A) The $2.50 Carolyn spends for the hamburger
B) The price the restaurant paid for the meat in the hamburger
C) The price the restaurant paid for the bun
D) all of the above
E) none of the above
2. Most goods and services included in the U.S. gross domestic product are bought by
A) businesses in the United States
B) state, local, and federal governments in the United States
C) people and businesses in other nations
D) consumers in the United states
E) none of the above
3. Which of the following makes an adjustment for both inflation and population change?
A) the consumer price index
B) the unemployment rate
C) real GDP per capita
D) final goods and services
E) all of the above
4. A nation’s standard of living will rise if
A) GDP and population increase at the same rate
B) real GDP per capita increases
C) population increases more than GDP
D) production and consumption decrease
E) all of the above
5. Productivity is
A) a measure of the total amount of goods manufactured.
B) a measure of how much output is produced per unit of input.
C) an unimportant statistic commonly ignored by economists.
D) an important measure of how the U.S. economy is doing.
E) B and D.
6. A nation’s productivity is directly affected by
A) the education of its labor force.
B) the amount of physical capital used.
C) the level of innovation used.
D) all of the above
E) none of the above
7. A farmer produces wheat and sells it for $.50. A miller buys the wheat, grinds it into flour, and sells the flour for $1.00. A baker buys the flour, produces a loaf of bread, and sells it to a consumer for $2.00. The amount added to gross domestic product in this example is
A) 50 cents
B) $1.00
C) $2.00
D) $3.50
E) none of the above
8. In the U.S. economy, the total value of goods and services produced per year is measured by
A) the gross domestic product.
B) the consumer price index.
C) the productivity of labor.
D) the Dow Jones Industrial Average.
E) none of the above
9. Which of the following best summarizes the key elements used to calculate the gross domestic product (GDP) of the United States using the expenditure approach?
A) business inventories, net imports, balance of payments
B) disposable income, consumer spending, housing starts
C) unemployment, factory wages, personal consumption, personal income
D) consumer spending, business investment, government spending, net exports
E) none of the above
10. A recession is said to occur when real gross domestic product (GDP) declines for a period of at least
A) two days
B) two weeks
C) two months
D) two quarters
E) two years
11. The consumer price index (CPI) is used to measure
A) inflation.
B) productivity.
C) gross domestic product.
D) structural unemployment.
E) all of the above
12. Which of the following best describes the difference between GDP and real GDP?
A) unlike GDP, real GDP measures only the val ...
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 10.docxamrit47
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par score
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par
Name:___________________________________ Banner:__________________________________
1) Suppose you decide to attend summer school and that this is considered a rational choice. When making this
choice,
A) you have made a positive statement.
B) you have used the ceteris paribus assumption.
C) you must have considered the social interest.
D) you must ignore the problem of scarcity.
E) you considered the marginal cost and marginal benefit of your choice.
2) The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure and investment.
B) wages, rent, interest, and profit.
C) consumption expenditure, investment, government expenditure on goods and services, and net exports
of goods and services.
D) consumption expenditure.
E) consumption expenditure, investment, and government expenditures.
3) The largest expenditure category in the United States is
A) net exports of goods and services.
B) investment.
C) wages.
D) consumption expenditure.
E) government expenditure on goods and services.
4) Economic growth is a sustained expansion of production possibilities, as measured by the increase in
________ over time.
A) population
B) the price level
C) inflation
D) employment
E) real GDP
5) The "value of money"
A) is the quantity of goods and services that a unit of money can buy.
B) increases during inflationary periods.
C) is directly related to the price level.
D) increases during economic expansions.
E) is determined by Fed regulations.
6) If the quantity of money supplied ________ the quantity demanded, in the long run the value of money
________.
A) exceeds; falls as people spend their surplus money
B) is less than; does not change unless the Fed increases the money supply
C) equals; equals zero
D) is less than; falls as people spend their surplus money
E) exceeds; rises as people buy bonds
7) Inflation is a tax because as the government ________ the quantity of money, the price level ________, and
the purchasing power of households' money ________.
A) decreases; rises; decreases
B) decreases; falls; decreases
C) increases; rises; decreases
D) does not change; rises; increases
E) increases; rises; increases
Figure 3-1
8) Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be
represented by a movement from
A) B to A. B) A to B. C) D2 to D1. D) D1 to D2.
9) Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) D2 to D1. B) B to A. C) A to B. D) D1 to D2.
10) Suppose that when the price of raspberries increases, Lonnie increases his ...
1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
Final Exam ECON 201 OL4 US2 Fall 2014I. MULTIPLE CHOICE (40 ques.docxmydrynan
Final Exam ECON 201 OL4 US2 Fall 2014
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best completes
the statement or answers the question.
1) ________ is a situation in which resources are limited in quantity and can be used in different ways. 1) _______
A) Choice B) Economics
C) Supply and demand D) Scarcity
2) The single largest expenditure component in GDP is: 2) _______
A) consumption expenditures. B) private investment expenditures.
C) net exports. D) government purchases.
3) In the circular flow diagram, the different payments made by firms to households are: 3) _______
A) rent on office and factory buildings. B) interest on borrowed money.
C) wages and salaries. D) all of the above.
4) ________ is commonly defined as six consecutive months of declining real GDP. 4) _______
A) A recession B) An expansion C) A peak D) A trough
5) If gross investment in 2009 is $600 billion and depreciation in 2012 is $50 billion, net investment in 2012 is: 5)
_______
A) $600 billion. B) $50 billion.
C) $550 billion. D) none of the above.
6) The number of people classified as employed is 220,000 and the number of people classified as unemployed is 30,000.
The size of the labor force: 6) _______
A) equals 250,000.
B) equals 200,000.
C) equals 300,000.
D) cannot be determined from this information.
7) Unanticipated inflation arbitrarily redistributes income because: 7) _______
A) medical costs rise faster than health insurance premiums.
B) nominal interest rates fall below real interest rates.
C) actual tax revenue decreases and so do government subsidies.
D) people forecast relative prices incorrectly and either gain or lose purchasing power.
8) A ʺshoe‐leather costʺ is the cost associated with: 8) _______
A) trying to reduce holdings of cash when there is inflation.
B) changing price lists when there is inflation.
C) designing a new basketball sneakers when there is inflation.
D) buying new shoes when there is inflation.Table 6.11
9) Refer to Table 6.11. If 1999 is the base year, the price index in 2001 is: 9) _______
A) 100. B) 1998. C) 121.7. D) 138.7.
10) Refer to Table 6.11. If 1999 is the base year, then the inflation rate (i.e., the growth rate of the price index) between 1999
and 2000 is: 10) ______
A) 121.7 percent. B) zero percent. C) 2.17 percent. D) 17.8 percent.
Figure 8.1
11) Refer to Figure 8.1. If the saving rate is s2, the economy reaches the long run equilibrium at: 11) ______
A) pt. E. B) pt. A.C) pt. D. D) pt. C.
12) If the economy experiences an increase in the amount of capital stock per worker, then we say that the economy is
experiencing: 12) ______
A) capital deepening. B) capital depreciation.
C) capital widening. D) technological progress.
13) Using a production possibility curve, a shifting of the curve outward illustrates: 13) ______
A) economic growth. B) a lower level of production.
C) a decrease in the unemployment rate.D) fewer inputs.
14) Steel rod prices are an example of: 14) ______
A) ...
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
1.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments?
A) The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unused resources. The vertical segment reflects the full employment of all resources.
B) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segment reflects the increasing pressure on the price level as firms bid for resources.
C) The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid for resources. The vertical segment reflects the availability of unused resources.
D) The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
E) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
2.
Fiscal policy is government action to influence aggregate demand and in turn to influence the level of real GDP and the price level, through:
A) expanding and contracting the money supply.
B) regulation of net exports.
C) changes in government spending and/or tax revenues.
D) encouraging businesses to invest.
3.
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A) Benefits-received.
B) Inexpensive-to-collect.
C) Ability-to-pay.
D) Fairness of contribution.
4.
Exhibit 14-6 Aggregate supply curve
nar004-1.jpg
In Exhibit 14-6, the aggregate supply curve becomes vertical at GDP = $1,200 because:
A) there are no more workers available at any wage rate to increase real GDP.
B) the price level remains constant.
C) the only workers available would demand higher wage rates.
D) the economy is experiencing low employment and low production.
E) the Treasury is no longer allowed to explain away the deficit with creative accounting
5.
Exhibit 14-8 Aggregate demand and supply
nar005-1.jpg
In Exhibit 14-8, if aggregate demand shifts from AD3 to AD4, real GDP will:
A) rise from $7.0 to $8.0, and the price level will rise from 120 to 140.
B) rise from $7.0 to $8.0, and the price level will rise from 120 to 170.
C) rise from $7.0 to $8.0, and the price level will rise from 100 to 140.
D) not change, and the price level will rise from 120 to 140.
E) rise from $4.0 to $8.0, and the price level will rise from 120 to 140.
6.
The m.
LOYOLA MARYMOUNT UNIVERSITY Econ 120 – Macroeconomics E.docxSHIVA101531
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
1
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
Multiple Choice (2 points each)
1. The spending multiplier is equal to:
A) MPC / MPS.
B) 1 / (1 – MPS).
C) MPC + MPS.
D) 1 / (1 – MPC).
2. If the marginal propensity to consume is 0.75 and the federal government increases spending by $100 billion,
the income expenditure model would predict that real GDP will increase by:
A) $100 billion.
B) $750 billion.
C) $400 billion.
D) $300 billion.
3. The money demand curve is:
A) downward-sloping because the opportunity cost of holding money is inversely related to the interest rate.
B) downward-sloping because the opportunity cost of holding money rises as the interest rate rises.
C) downward-sloping because the opportunity cost of holding money rises as the interest rate falls.
D) upward-sloping because the opportunity cost of holding money rises with the interest rate.
Figure: Policy Alternatives
4. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government increases
government spending, the result will likely be
A) an increase in unemployment.
B) a decrease in interest rates.
C) inflation.
D) deflation.
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
2
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
5. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government does not
intervene, the result will likely be
A) a shift of AD1 to the left.
B) a shift of SRAS1 to SRAS2.
C) a shift of LRAS to the left.
D) no change in AD or SRAS.
6. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government decides to
intervene, it would most likely
A) increase taxes.
B) decrease the money supply.
C) increase government spending.
D) decrease government spending.
7. In the long run, an increase in AD will result in:
A) no changes in the aggregate price level.
B) no changes in the aggregate output level.
C) increases in both the aggregate price level and the aggregate output level.
D) increases in the aggregate price level but no changes in the aggregate output level.
8. Starting from its potential output, an economy's government increases spending. In the long run, this
economy:
A) will produce at an output level that is greater than its potential output.
B) will produce at its potential output.
C) will produce at an output level that is below its potential output.
D) will produce at its potential output level, but at a lower aggregate price level.
9. In the long run, the aggregate price level falls. This could result from:
A) a leftward shift in AD.
B) a rig ...
1. Carolyn spends $2.50 for a hamburger at a restaurant. Which.docxjackiewalcutt
1. Carolyn spends $2.50 for a hamburger at a restaurant. Which of the following would be included in the gross domestic product?
A) The $2.50 Carolyn spends for the hamburger
B) The price the restaurant paid for the meat in the hamburger
C) The price the restaurant paid for the bun
D) all of the above
E) none of the above
2. Most goods and services included in the U.S. gross domestic product are bought by
A) businesses in the United States
B) state, local, and federal governments in the United States
C) people and businesses in other nations
D) consumers in the United states
E) none of the above
3. Which of the following makes an adjustment for both inflation and population change?
A) the consumer price index
B) the unemployment rate
C) real GDP per capita
D) final goods and services
E) all of the above
4. A nation’s standard of living will rise if
A) GDP and population increase at the same rate
B) real GDP per capita increases
C) population increases more than GDP
D) production and consumption decrease
E) all of the above
5. Productivity is
A) a measure of the total amount of goods manufactured.
B) a measure of how much output is produced per unit of input.
C) an unimportant statistic commonly ignored by economists.
D) an important measure of how the U.S. economy is doing.
E) B and D.
6. A nation’s productivity is directly affected by
A) the education of its labor force.
B) the amount of physical capital used.
C) the level of innovation used.
D) all of the above
E) none of the above
7. A farmer produces wheat and sells it for $.50. A miller buys the wheat, grinds it into flour, and sells the flour for $1.00. A baker buys the flour, produces a loaf of bread, and sells it to a consumer for $2.00. The amount added to gross domestic product in this example is
A) 50 cents
B) $1.00
C) $2.00
D) $3.50
E) none of the above
8. In the U.S. economy, the total value of goods and services produced per year is measured by
A) the gross domestic product.
B) the consumer price index.
C) the productivity of labor.
D) the Dow Jones Industrial Average.
E) none of the above
9. Which of the following best summarizes the key elements used to calculate the gross domestic product (GDP) of the United States using the expenditure approach?
A) business inventories, net imports, balance of payments
B) disposable income, consumer spending, housing starts
C) unemployment, factory wages, personal consumption, personal income
D) consumer spending, business investment, government spending, net exports
E) none of the above
10. A recession is said to occur when real gross domestic product (GDP) declines for a period of at least
A) two days
B) two weeks
C) two months
D) two quarters
E) two years
11. The consumer price index (CPI) is used to measure
A) inflation.
B) productivity.
C) gross domestic product.
D) structural unemployment.
E) all of the above
12. Which of the following best describes the difference between GDP and real GDP?
A) unlike GDP, real GDP measures only the val ...
Econ 335 Homework Set #3 Fall 2015
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Use the information in the table to answer the following question(s).
Table 9.1
1)
Based on Table 9.1, the balance on the current account is
1)
_______ A)
-200.
B)
-100.
C)
0.
D)
+200.
E)
+100.
2)
Based on Table 9.1, the balance on the capital account is
2)
_______ A)
-100.
B)
+100.
C)
-200.
D)
+200.
E)
0.
3)
If the residents of a country receive income from their foreign investments, it is counted as a
3)
_______ A)
debit in the current account. B)
debit in the capital account. C)
credit in the current account. D)
debit in either the capital or current account, depending on the type of investment income. E)
credit in the capital account.
4)
If all government budgets are balanced, and S is greater than I, then
4)
_______ A)
the net international investment position must be positive. B)
the capital account must be negative. C)
the net international investment position must be negative. D)
the capital account must be positive. E)
Both A and B.
5)
People sometimes worry that American trade with other countries will lead to large U.S. trade deficits and the movement of massive amounts of American capital out of the country. This worry is unfounded because countries cannot
5)
_______ A)
spend more than they earn. B)
invest more than they save. C)
have both current account and capital account deficits at the same time. D)
increase savings at the same time that a trade deficit grows. E)
increase their trade with other countries without increasing their savings.
Use the following table to answer the next question(s). All values are measured as a percent of GNP.
Table 9.2
Savings by households 5 percent
Savings by businesses 11 percent
Private Investment 16 percent
Net Taxes 11 percent
Government purchases 18 percent
6)
Based on Table 9.2, total savings, private plus public, is equal to
6)
_______ A)
16 percent of GNP. B)
9 percent of GNP. C)
20 percent of GNP. D)
3 percent of GNP. E)
None of the above.
7)
Based on Table 9.2, the current account balance is
7)
_______ A)
+2 percent of GNP. B)
-2 percent of GNP. C)
+4 percent of GNP. D)
-9 percent of GNP. E)
None of the above.
8)
The Mexican peso crisis of 1994 and 1995 was directly related to
8)
_______ A)
a large capital account deficit. B)
a large current account surplus. C)
a large capital account surplus. D)
the start of NAFTA. E)
an undervalued peso.
9)
Which of the following is NOT true about this national income equation:
9)
_______ A)
A reduction in the trade deficit with one country will sim ...
Some of the questions have a image involved. I have attached those .docxboadverna
Some of the questions have a image involved. I have attached those images with the quesiton number as the file name.
1. Which statement is true?
a. Today more workers in the U.S. are members of labor unions than any time in our history
b. Today labor unions are weaker than any time in the last 100 years
c. No major labor union has called a strike since the 1940’s
d. Labor unions are relatively strong in the public (government) sector.
2. Exclusive union strategy involves
a. Increasing the demand for the final product, thereby increasing the demand for labor
b. Restricting the supply of union labor
c. Setting job standards and entry qualifications for members
d. Organizing all workers and bargaining for a wage
e. Negotiating only after a strike has been called
3. An example of an exclusive union would be
a. The Internal Brotherhood of the Teamsters
b. The Communications Workers of America
c. The American Medical Association
4. In which one of these years was labor union membership the highest?
a. 1940
b. 1960
c. 1980
d. 1990
5. Which of the following laws stated that attempts to monopolize conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
a. The Federal Trade Commission Act
b. The Clayton Act
c. The Sherman Antitrust Act
d. All of the Choices
e. None of the Choices
6. Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following Except?
a. Fares
b. Assigned routes
c. Profits
d. Entry into the industry
7. The Clayton Act prohibited
A. interlocking directories
B. all forms of monopoly
C. foreign control of US corporations
D. False and deceptive advertising
8. Which statement is true?
a. Microsoft is subject to American antitrust laws but not those of Europe, Asia, or elsewhere
b. Microsoft has never been involved in anti -trust suit
c. The European Commission fined Microsoft over 600 billion for its anticompetitive behavior
d. Microsoft has always gone out of its way to be helpful to its competitors
9. A monopolist operated at the minimum point of her ATC curve
a. Only in the short run
b. Only in the long run
c. In both the short and long run
d. In neither the short nor the long run
10. Which of the following is characteristic of a monopoly?
a. The absence of political power
b. Close substitutes products
c. The ability to make an economic profit in the long run
d. Operating at peak efficiency
11. The firm will charge a price of (image involved)
a. 8
b. 9.65
c. 10.
d. 12.
e. 16
12. Statement I Only natural monopolies are legal in the U.S.
Statement II: Large firms generally operate at peak efficiency
A. Statement I is true and statement II is false
B. Statement II is true and statement I is false
C. Both statements are true
D. Both statements are false
13. The nation’s largest bank has assets over
a. 2.5 billion
b. 25 billion
c. 250 billion
d. 800 billion
e. 1.8 trillion
14. Which statement is true?
A. Our money supply is fixed by law and can be raised b.
ECN 282 Final Exam Spring 20161.The marginal propensity.docxSALU18
ECN 282
Final Exam Spring 2016
1.
The marginal propensity to consume is equal to:
A)
the proportion of consumer spending as a function of aggregate disposable income.
B)
the change in saving divided by the change in aggregate disposable income.
C)
the ratio of the change in consumer spending to the change in aggregate disposable income.
D)
the change in saving divided by the change in consumer spending.
2.
The MPS plus the MPC must equal:
A)
zero.
B)
one.
C)
income.
D)
saving.
3.
If the MPS = 0.1, then the value of the multiplier equals:
A)
1.
B)
5.
C)
9.
D)
10.
4.
If the multiplier equals 4, then the marginal propensity to save must be equal to:
A)
1/4.
B)
1/2.
C)
3/4.
D)
the marginal propensity to consume.
5.
Suppose that the marginal propensity to consume is 0.8, and investment spending increases by $100 billion. The increase in aggregate demand is:
A)
$100 billion, the same amount as investment spending.
B)
$125 billion, composed of $100 billion in investment spending and $25 billion in consumption.
C)
$80 billion, composed of $100 billion in investment spending and a decrease in consumption of $20 billion.
D)
$500 billion, composed of $100 billion in investment spending and $400 billion in consumption.
6.
The marginal propensity to save is:
A)
savings divided by aggregate income.
B)
the fraction of an additional dollar of disposable income that is saved.
C)
1 + MPC.
D)
savings divided by aggregate income or 1 + MPC.
7.
If disposable income increases by $5 billion and consumer spending increases by $4 billion, the marginal propensity to consume is equal to:
A)
20.
B)
0.8.
C)
1.25.
D)
9.
8.
The spending multiplier is equal to:
A)
MPC / MPS.
B)
1 / (1 – MPS).
C)
MPC + MPS.
D)
1 / (1 – MPC).
9.
Suppose that a financial crisis decreases investment spending by $100 billion and the marginal propensity to consume is 0.8. Assuming no taxes and no trade, by how much will real GDP change?
A)
$500 billion decrease
B)
$200 billion decrease
C)
$800 billion decrease
D)
$400 billion increase
10.
Suppose the government increases spending by $100 billion as a stimulus package. If the MPC is 0.6, then equilibrium income will:
A)
decrease by $250 billion.
B)
increase by $250 billion.
C)
increase by $600 billion.
D)
decrease by $400 billion.
11.
According to the National Bureau of Economic Research, the U.S. economy is going through a severe recession. Most households are trying to save more of their income than before. This increase in private spending will lead to:
A)
an increase in aggregate income, as more saving means more funds for business investment.
B)
a fall in aggregate income, as more saving means people will spend less.
C)
no change in aggregate income, because there is no saving multiplier.
D)
an increase in aggregate income, as an increase in saving will make people wealthier.
12.
A key statistic to measure economic growth is:
A)
the size of the ...
Question 11. 1) _________ economies are the most effective at pr.docxIRESH3
Question 1
1. 1) _________ economies are the most effective at promoting economic growth.
a.
Command
b.
Closed
c.
Open
d.
Inflationary
3 points
Question 2
1. 1) Limiting the immigration of highly educated professionals hurts U.S. economic growth because
a.
it restricts the supply of high human capital workers and the new ideas they could potentially generate.
b.
it restricts the knowledge base of the workforce.
c.
immigrants always cost less to hire than native workers do.
d.
both a. and b.
3 points
Question 3
1. 1) Economic growth is positively related to all of the following except
a.
import tariffs.
b.
the rate of investment.
c.
the rate of saving.
d.
the growth of technology.
3 points
Question 4
1. 1) Supply-side inflation can be caused by a continual
a.
increase in aggregate demand while aggregate supply remains unchanged.
b.
decrease in aggregate supply while aggregate demand remains unchanged.
c.
increase in aggregate supply while aggregate demand remains unchanged.
d.
decrease in aggregate demand while aggregate supply significantly decreases.
3 points
Question 5
1. 1) The aggregate demand curve would shift to the right as a result of
a.
a drop in the foreign exchange value of a dollar.
b.
tax increases.
c.
a drop in the price level.
d.
a decrease in the amount of money in circulation.
3 points
Question 6
1. 1) The total of all planned real expenditures in the economy is
a.
aggregate GDP.
b.
aggregate consumption.
c.
aggregate spending.
d.
aggregate demand.
3 points
Question 7
1. 1) Consider this statement: “Persistent inflation in a growing economy is possible only if the aggregate demand curve shifts rightward over time at a faster pace than the rightward progression of the long-run aggregate supply curve.” This statement is describing:
a.
demand-side inflation.
b.
supply-side inflation.
c.
demand- and supply-side inflation.
d.
neither demand- nor supply-side inflation.
3 points
Question 8
1. 1) Which of the following best exemplifies Say’s Law?
a.
The more you consume the less additional satisfaction you receive from additional consumption of the good.
b.
A decrease in the price of a good leads to larger amounts of the good being purchased.
c.
The production of a $4000 Plasma TV set creates demand for other goods and services valued at $4000.
d.
Increases in labor eventually lead to smaller and smaller increases in output.
3 points
Question 9
1. 1) All of the following will shift the short-run aggregate supply curve and long-run aggregate supply curve except for
a.
a depletion of raw materials.
b.
a temporary change in raw materials.
c.
decreased competition.
d.
increased education and training for the labor force.
3 points
Question 10
1. 1) The LRAS curve is vertical because unemployment is at its ________________.
a.
natural rate
b.
frictional rate
c.
cyclical rate
d.
structural rate
3 points
Question 11
1. 1) Which of the following facto ...
ECON 301 Intermediate MacroSpring 2019 Problem Set #1Du.docxtidwellveronique
ECON 301: Intermediate Macro
Spring 2019 Problem Set #1
Due: Monday, April 22, 10:30 AM
Directions: Put the names of up to 3 group members at the top of this page.
Please clearly mark each of your answers to the multiple choice questions
in capital letters in the spaces provided below. Please mark your solutions
(preferably typed) to each of the short answer questions on separate sheets
of paper (with clean edges if using notebook paper) and staple or paper
clip your solutions to the multiple choice answer sheet. Hand it in (one per
group) on or before the due date during class time.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SECTION 1: MULTIPLE CHOICE QUESTIONS
1. Based on your understanding of the aggregate expenditure model, we know with certainty
that an equal and simultaneous increase in G and T will cause:
(a) an increase in output
(b) no change in output
(c) a reduction in output
(d) an increase in investment
(e) a decrease in investment
For the following two questions, suppose an economy produces only milk and butter. As-
sume that all production is consumed in each year, and that price and quantity data are given
in the tables below.
Year 1
Good Quantity Price
Milk 500 $2
Butter 2000 $1
Year 2
Good Quantity Price
Milk 900 $3
Butter 3000 $2
2. (Refer to the above tables) Between Year 1 and Year 2, real GDP (based on Year 1 as a base
year) grew by
(a) 58.18%
(b) 158.18%
(c) 160%
(d) 60%
(e) 260%
3. (Refer to the above tables) Between Year 1 and Year 2, the GDP deflator (based on Year 1
as a base year) rose
(a) 81.25%
(b) 90%
(c) 190%
(d) 83.33
(e) 183.33%
ECON 301: Intermediate Macro Problem Set #1 1
4. Which of the following generally occurs when a central bank pursues expansionary monetary
policy?
(a) the central bank purchases bonds and the interest rate increases
(b) the central bank purchases bonds and the interest rate decreases
(c) the central bank sells bonds and the interest rate increases
(d) the central bank sells bonds and the interest rate decreases
(e) an increase in the reserve requirement ratio
5. The marginal propensity to consume represents
(a) the level of consumption that occurs if disposable income is zero.
(b) the ratio of total consumption to disposable income.
(c) total income minus total taxes.
(d) the change in output caused by a one-unit change in autonomous demand.
(e) the change in consumption caused by a one-unit change in disposable income.
6. Suppose a one-year discount bond offers to pay $1000 in one year and currently has a 15%
interest rate. Given this information, we know that the bond’s price must be approximately:
(a) $870
(b) $1150
(c) $850
(d) $950
(e) $985
7. Equilibrium in the goods market requires that
(a) production equals income.
(b) production equals demand.
(c) consumption equals saving.
(d) consumption equals income.
(e) government spending equals taxes minus transfers.
8. The LM curve shifts down when which of the following occurs.
1.The tax multiplier associated with a $10B reduction in t.docxelliotkimberlee
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
1.The tax multiplier associated with a $10B reduction in taxes i.docxhyacinthshackley2629
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
Econ 213 (A1) Final Examination (version A) .docxSALU18
Econ 213 (A1) Final Examination (version A) The University of Alberta SPRING 2013 S. Beesley
YOU WRITE THIS EXAM IF YOU COMPLETED THE MIDTERM!
Name_________________________________________ Student Number___________________________________
This exam has 33 multiple-choice questions. Please mark your answers on the scantron sheet. Please put your name and
student number on this page, and the scantron, immediately if not sooner.
There are also 3 written questions of 11 marks each, making the overall exam 66 marks in 120 minutes.
Please allocate your time accordingly!
SECTION A 33 MARKS
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The article about Africa entitled "Bulging in the Middle" noted that there were four causes of Africa's rise. Three
of the four are listed here - which one does not belong?
A) technology having large effects B) the right kind of population growth
C) better governance and economic management D) greatly increased agricultural productivity
2) There is a messy, intermittent, and sometimes sadly violent North-South divide across central Africa between
A) Christian and animist (local African) religions B) Sunni and Shiite Moslems
C) oil-rich states and the others D) Muslim and Christian terrritories
3) Nigeria has lost a very great deal of money to corruption and incompetence. The amount involved is, very
roughly:
A) Hundreds of millions of dollars B) Hundreds of billions of dollars
C) Tens of millions of dollars D) About 2.5 to 3.0 trillion dollars
4) Given the large debt increases in the last 20 years, why have we not seen even more sovereign defaults among
LDCs (and, for that matter, OECD countries)?
A) high real interest rates
B) the pattern of declining interest rates
C) The successful implementation of austerity programs and taxes on the well-off in LDCs
D) The massive debts have been offset by huge debt forgiveness totals
5) The IMF was accused in one article of hypocrisy because it advocated
A) austerity in rich countries and spending in poor ones
B) austerity at all times and places
C) austerity in poor countries and spending in rich ones
D) printing money when necessary to kick-start dormant economies
6) Alexander Sack wrote that debt was odious when
A) The funds originally loaned had not been used in "the interests of the State."
B) The interest rates charged were so high as to be odious
C) A significant fraction of the money had been stolen by corrupt officials
D) Repaying that debt would result in significant social hardship
7) Easterly established that more indebted countries were characterized by all of these except
A) A lower black market premium
B) Smaller bank systems
C) A faster rate of asset sales
D) New borrowing that exceeded any debt relief given
1
8) Easterly pointed out that in some governments, the divisions across ethnic groups result in a version of the
A) negative externality prob ...
Lesson 2.8IntroductionCourse ObjectivesThis lesson will addr.docxsmile790243
Lesson 2.8
Introduction
Course Objectives
This lesson will address the following course outcomes:
· 7. Read, interpret, and make decisions based upon data from tables and graphical displays such as line graphs, bar graphs, scatterplots, pie charts, and histograms. Given data, choose an appropriate type of graphical display and create it using scales appropriate to the application.
Specific Objectives
Students will understand that
· the scale on graphs can change perception of the information they represent.
· to fully understand a pie graph, the reference value must be known.
Students will be able to
· calculate relative change from a line graph.
· estimate the absolute size of the portions of a pie graph given its reference value.
· use data displayed on two graphs to estimate a third quantity.
Graphs are a helpful way to summarize data. Often there are many ways to portray information graphically. Sometimes one form is easier to read than another. Sometimes the way a graph is made can affect the impression it gives. Today, you will look at three examples of such graphs.
Line Graphs
Problem Situation 1: Reading Line Graphs
#1 Points possible: 5. Total attempts: 5
Compare the two graphs below.
Which statement best descries the relationship between the graphs?
· The data appears to be different - the first graph shows larger changes in income
· They appear to show the same data, but on different vertical scales.
#2 Points possible: 5. Total attempts: 5
What was the average household income in 1999?
$
#3 Points possible: 5. Total attempts: 5
Based on these two graphs, would it be fair to say that the average household income was significantly lower in 2009 than it was in 1999?
Give your answer with an explanation, then compare your answer to the one provided.
Bar Graphs
Problem Situation 2: Reading Bar Graphs
In this example, we will be looking at bar graphs. Before doing that, answer the question about Jeff’s Housing so that you can understand the questions about national debt and GDP that follow.
#4 Points possible: 15. Total attempts: 5
Jeff’s Housing: Two pairs of statements are given below.
In 1990, Jeff spent $1,000 per month on housing.
In 2010, Jeff spent $2,000 per month on housing.
In 1990, Jeff spent 20% of his income on housing.
In 2010, Jeff spent 10% of his income on housing.
a. How can both pairs of statements be true?
· It is not possible for both statements to be true, since one shows his housing costs rising, and the other shows his housing costs decreasing
· Both statements can be true if his income increased significantly from 1990 to 2010
· Both statements can be true if his income fell significantly from 1990 to 2010
b. Calculate Jeff's monthly income in 1990
$
c. Calculate Jeff's monthly income in 2010
$
GDP, or Gross Domestic Product, can be thought of as the country’s income. It is the value of all goods and services the country produces. The national debt is how much the country owes. Just as Jeff’s spendi ...
For this assignment, students will need to observe the activities th.docxalfred4lewis58146
For this assignment, students will need to observe the activities that take place in a courtroom setting. Find a video on YouTube... Pay attention to the courtroom actors including the judge, jury, attorneys, and defendant. Complete a one page reflection of your experience. Provide details about the case/cases you heard and note if anything surprised you during your observation.
Use APA format for this assignment.
.
For this assignment, select a human service organization from .docxalfred4lewis58146
For this assignment, select a human service organization from a public, nonprofit, or government sector that you are familiar with, or one that you find interesting. You will use this organization to complete all of the course assignments. You must be able to access information about the organization’s governance, financial sources and practices, mission, population served, and its political and social landscape. Review all the assignments now to verify the types of information you will need about the organization in order to complete them.
The following list provides examples of acceptable types of organizations. You can select an organization of the types included on this list or propose another type of organization to your instructor. The organization must provide human service program services. The selected organization will be included in all your assignments, so you will look at leadership and collaboration practices for that organization through several areas of focus.
Possible Organization Types
City, county, or state human services or mental health programs.
State hospitals (Western State Hospital, Milwaukee County Hospital, or another state or county hospital in your area).
School-based human services or case management programs.
Private mental health organizations.
Employee assistance programs.
For-profit hospital or health care organizations (Humana, Kaiser-Permanente, Aurora, etcetera).
Catholic community services.
Lutheran Social Services.
.
More Related Content
Similar to Page 1 of 17 ECON 201 Introduction to Macroeconomics .docx
Econ 335 Homework Set #3 Fall 2015
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Use the information in the table to answer the following question(s).
Table 9.1
1)
Based on Table 9.1, the balance on the current account is
1)
_______ A)
-200.
B)
-100.
C)
0.
D)
+200.
E)
+100.
2)
Based on Table 9.1, the balance on the capital account is
2)
_______ A)
-100.
B)
+100.
C)
-200.
D)
+200.
E)
0.
3)
If the residents of a country receive income from their foreign investments, it is counted as a
3)
_______ A)
debit in the current account. B)
debit in the capital account. C)
credit in the current account. D)
debit in either the capital or current account, depending on the type of investment income. E)
credit in the capital account.
4)
If all government budgets are balanced, and S is greater than I, then
4)
_______ A)
the net international investment position must be positive. B)
the capital account must be negative. C)
the net international investment position must be negative. D)
the capital account must be positive. E)
Both A and B.
5)
People sometimes worry that American trade with other countries will lead to large U.S. trade deficits and the movement of massive amounts of American capital out of the country. This worry is unfounded because countries cannot
5)
_______ A)
spend more than they earn. B)
invest more than they save. C)
have both current account and capital account deficits at the same time. D)
increase savings at the same time that a trade deficit grows. E)
increase their trade with other countries without increasing their savings.
Use the following table to answer the next question(s). All values are measured as a percent of GNP.
Table 9.2
Savings by households 5 percent
Savings by businesses 11 percent
Private Investment 16 percent
Net Taxes 11 percent
Government purchases 18 percent
6)
Based on Table 9.2, total savings, private plus public, is equal to
6)
_______ A)
16 percent of GNP. B)
9 percent of GNP. C)
20 percent of GNP. D)
3 percent of GNP. E)
None of the above.
7)
Based on Table 9.2, the current account balance is
7)
_______ A)
+2 percent of GNP. B)
-2 percent of GNP. C)
+4 percent of GNP. D)
-9 percent of GNP. E)
None of the above.
8)
The Mexican peso crisis of 1994 and 1995 was directly related to
8)
_______ A)
a large capital account deficit. B)
a large current account surplus. C)
a large capital account surplus. D)
the start of NAFTA. E)
an undervalued peso.
9)
Which of the following is NOT true about this national income equation:
9)
_______ A)
A reduction in the trade deficit with one country will sim ...
Some of the questions have a image involved. I have attached those .docxboadverna
Some of the questions have a image involved. I have attached those images with the quesiton number as the file name.
1. Which statement is true?
a. Today more workers in the U.S. are members of labor unions than any time in our history
b. Today labor unions are weaker than any time in the last 100 years
c. No major labor union has called a strike since the 1940’s
d. Labor unions are relatively strong in the public (government) sector.
2. Exclusive union strategy involves
a. Increasing the demand for the final product, thereby increasing the demand for labor
b. Restricting the supply of union labor
c. Setting job standards and entry qualifications for members
d. Organizing all workers and bargaining for a wage
e. Negotiating only after a strike has been called
3. An example of an exclusive union would be
a. The Internal Brotherhood of the Teamsters
b. The Communications Workers of America
c. The American Medical Association
4. In which one of these years was labor union membership the highest?
a. 1940
b. 1960
c. 1980
d. 1990
5. Which of the following laws stated that attempts to monopolize conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
a. The Federal Trade Commission Act
b. The Clayton Act
c. The Sherman Antitrust Act
d. All of the Choices
e. None of the Choices
6. Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following Except?
a. Fares
b. Assigned routes
c. Profits
d. Entry into the industry
7. The Clayton Act prohibited
A. interlocking directories
B. all forms of monopoly
C. foreign control of US corporations
D. False and deceptive advertising
8. Which statement is true?
a. Microsoft is subject to American antitrust laws but not those of Europe, Asia, or elsewhere
b. Microsoft has never been involved in anti -trust suit
c. The European Commission fined Microsoft over 600 billion for its anticompetitive behavior
d. Microsoft has always gone out of its way to be helpful to its competitors
9. A monopolist operated at the minimum point of her ATC curve
a. Only in the short run
b. Only in the long run
c. In both the short and long run
d. In neither the short nor the long run
10. Which of the following is characteristic of a monopoly?
a. The absence of political power
b. Close substitutes products
c. The ability to make an economic profit in the long run
d. Operating at peak efficiency
11. The firm will charge a price of (image involved)
a. 8
b. 9.65
c. 10.
d. 12.
e. 16
12. Statement I Only natural monopolies are legal in the U.S.
Statement II: Large firms generally operate at peak efficiency
A. Statement I is true and statement II is false
B. Statement II is true and statement I is false
C. Both statements are true
D. Both statements are false
13. The nation’s largest bank has assets over
a. 2.5 billion
b. 25 billion
c. 250 billion
d. 800 billion
e. 1.8 trillion
14. Which statement is true?
A. Our money supply is fixed by law and can be raised b.
ECN 282 Final Exam Spring 20161.The marginal propensity.docxSALU18
ECN 282
Final Exam Spring 2016
1.
The marginal propensity to consume is equal to:
A)
the proportion of consumer spending as a function of aggregate disposable income.
B)
the change in saving divided by the change in aggregate disposable income.
C)
the ratio of the change in consumer spending to the change in aggregate disposable income.
D)
the change in saving divided by the change in consumer spending.
2.
The MPS plus the MPC must equal:
A)
zero.
B)
one.
C)
income.
D)
saving.
3.
If the MPS = 0.1, then the value of the multiplier equals:
A)
1.
B)
5.
C)
9.
D)
10.
4.
If the multiplier equals 4, then the marginal propensity to save must be equal to:
A)
1/4.
B)
1/2.
C)
3/4.
D)
the marginal propensity to consume.
5.
Suppose that the marginal propensity to consume is 0.8, and investment spending increases by $100 billion. The increase in aggregate demand is:
A)
$100 billion, the same amount as investment spending.
B)
$125 billion, composed of $100 billion in investment spending and $25 billion in consumption.
C)
$80 billion, composed of $100 billion in investment spending and a decrease in consumption of $20 billion.
D)
$500 billion, composed of $100 billion in investment spending and $400 billion in consumption.
6.
The marginal propensity to save is:
A)
savings divided by aggregate income.
B)
the fraction of an additional dollar of disposable income that is saved.
C)
1 + MPC.
D)
savings divided by aggregate income or 1 + MPC.
7.
If disposable income increases by $5 billion and consumer spending increases by $4 billion, the marginal propensity to consume is equal to:
A)
20.
B)
0.8.
C)
1.25.
D)
9.
8.
The spending multiplier is equal to:
A)
MPC / MPS.
B)
1 / (1 – MPS).
C)
MPC + MPS.
D)
1 / (1 – MPC).
9.
Suppose that a financial crisis decreases investment spending by $100 billion and the marginal propensity to consume is 0.8. Assuming no taxes and no trade, by how much will real GDP change?
A)
$500 billion decrease
B)
$200 billion decrease
C)
$800 billion decrease
D)
$400 billion increase
10.
Suppose the government increases spending by $100 billion as a stimulus package. If the MPC is 0.6, then equilibrium income will:
A)
decrease by $250 billion.
B)
increase by $250 billion.
C)
increase by $600 billion.
D)
decrease by $400 billion.
11.
According to the National Bureau of Economic Research, the U.S. economy is going through a severe recession. Most households are trying to save more of their income than before. This increase in private spending will lead to:
A)
an increase in aggregate income, as more saving means more funds for business investment.
B)
a fall in aggregate income, as more saving means people will spend less.
C)
no change in aggregate income, because there is no saving multiplier.
D)
an increase in aggregate income, as an increase in saving will make people wealthier.
12.
A key statistic to measure economic growth is:
A)
the size of the ...
Question 11. 1) _________ economies are the most effective at pr.docxIRESH3
Question 1
1. 1) _________ economies are the most effective at promoting economic growth.
a.
Command
b.
Closed
c.
Open
d.
Inflationary
3 points
Question 2
1. 1) Limiting the immigration of highly educated professionals hurts U.S. economic growth because
a.
it restricts the supply of high human capital workers and the new ideas they could potentially generate.
b.
it restricts the knowledge base of the workforce.
c.
immigrants always cost less to hire than native workers do.
d.
both a. and b.
3 points
Question 3
1. 1) Economic growth is positively related to all of the following except
a.
import tariffs.
b.
the rate of investment.
c.
the rate of saving.
d.
the growth of technology.
3 points
Question 4
1. 1) Supply-side inflation can be caused by a continual
a.
increase in aggregate demand while aggregate supply remains unchanged.
b.
decrease in aggregate supply while aggregate demand remains unchanged.
c.
increase in aggregate supply while aggregate demand remains unchanged.
d.
decrease in aggregate demand while aggregate supply significantly decreases.
3 points
Question 5
1. 1) The aggregate demand curve would shift to the right as a result of
a.
a drop in the foreign exchange value of a dollar.
b.
tax increases.
c.
a drop in the price level.
d.
a decrease in the amount of money in circulation.
3 points
Question 6
1. 1) The total of all planned real expenditures in the economy is
a.
aggregate GDP.
b.
aggregate consumption.
c.
aggregate spending.
d.
aggregate demand.
3 points
Question 7
1. 1) Consider this statement: “Persistent inflation in a growing economy is possible only if the aggregate demand curve shifts rightward over time at a faster pace than the rightward progression of the long-run aggregate supply curve.” This statement is describing:
a.
demand-side inflation.
b.
supply-side inflation.
c.
demand- and supply-side inflation.
d.
neither demand- nor supply-side inflation.
3 points
Question 8
1. 1) Which of the following best exemplifies Say’s Law?
a.
The more you consume the less additional satisfaction you receive from additional consumption of the good.
b.
A decrease in the price of a good leads to larger amounts of the good being purchased.
c.
The production of a $4000 Plasma TV set creates demand for other goods and services valued at $4000.
d.
Increases in labor eventually lead to smaller and smaller increases in output.
3 points
Question 9
1. 1) All of the following will shift the short-run aggregate supply curve and long-run aggregate supply curve except for
a.
a depletion of raw materials.
b.
a temporary change in raw materials.
c.
decreased competition.
d.
increased education and training for the labor force.
3 points
Question 10
1. 1) The LRAS curve is vertical because unemployment is at its ________________.
a.
natural rate
b.
frictional rate
c.
cyclical rate
d.
structural rate
3 points
Question 11
1. 1) Which of the following facto ...
ECON 301 Intermediate MacroSpring 2019 Problem Set #1Du.docxtidwellveronique
ECON 301: Intermediate Macro
Spring 2019 Problem Set #1
Due: Monday, April 22, 10:30 AM
Directions: Put the names of up to 3 group members at the top of this page.
Please clearly mark each of your answers to the multiple choice questions
in capital letters in the spaces provided below. Please mark your solutions
(preferably typed) to each of the short answer questions on separate sheets
of paper (with clean edges if using notebook paper) and staple or paper
clip your solutions to the multiple choice answer sheet. Hand it in (one per
group) on or before the due date during class time.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SECTION 1: MULTIPLE CHOICE QUESTIONS
1. Based on your understanding of the aggregate expenditure model, we know with certainty
that an equal and simultaneous increase in G and T will cause:
(a) an increase in output
(b) no change in output
(c) a reduction in output
(d) an increase in investment
(e) a decrease in investment
For the following two questions, suppose an economy produces only milk and butter. As-
sume that all production is consumed in each year, and that price and quantity data are given
in the tables below.
Year 1
Good Quantity Price
Milk 500 $2
Butter 2000 $1
Year 2
Good Quantity Price
Milk 900 $3
Butter 3000 $2
2. (Refer to the above tables) Between Year 1 and Year 2, real GDP (based on Year 1 as a base
year) grew by
(a) 58.18%
(b) 158.18%
(c) 160%
(d) 60%
(e) 260%
3. (Refer to the above tables) Between Year 1 and Year 2, the GDP deflator (based on Year 1
as a base year) rose
(a) 81.25%
(b) 90%
(c) 190%
(d) 83.33
(e) 183.33%
ECON 301: Intermediate Macro Problem Set #1 1
4. Which of the following generally occurs when a central bank pursues expansionary monetary
policy?
(a) the central bank purchases bonds and the interest rate increases
(b) the central bank purchases bonds and the interest rate decreases
(c) the central bank sells bonds and the interest rate increases
(d) the central bank sells bonds and the interest rate decreases
(e) an increase in the reserve requirement ratio
5. The marginal propensity to consume represents
(a) the level of consumption that occurs if disposable income is zero.
(b) the ratio of total consumption to disposable income.
(c) total income minus total taxes.
(d) the change in output caused by a one-unit change in autonomous demand.
(e) the change in consumption caused by a one-unit change in disposable income.
6. Suppose a one-year discount bond offers to pay $1000 in one year and currently has a 15%
interest rate. Given this information, we know that the bond’s price must be approximately:
(a) $870
(b) $1150
(c) $850
(d) $950
(e) $985
7. Equilibrium in the goods market requires that
(a) production equals income.
(b) production equals demand.
(c) consumption equals saving.
(d) consumption equals income.
(e) government spending equals taxes minus transfers.
8. The LM curve shifts down when which of the following occurs.
1.The tax multiplier associated with a $10B reduction in t.docxelliotkimberlee
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
1.The tax multiplier associated with a $10B reduction in taxes i.docxhyacinthshackley2629
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
Econ 213 (A1) Final Examination (version A) .docxSALU18
Econ 213 (A1) Final Examination (version A) The University of Alberta SPRING 2013 S. Beesley
YOU WRITE THIS EXAM IF YOU COMPLETED THE MIDTERM!
Name_________________________________________ Student Number___________________________________
This exam has 33 multiple-choice questions. Please mark your answers on the scantron sheet. Please put your name and
student number on this page, and the scantron, immediately if not sooner.
There are also 3 written questions of 11 marks each, making the overall exam 66 marks in 120 minutes.
Please allocate your time accordingly!
SECTION A 33 MARKS
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The article about Africa entitled "Bulging in the Middle" noted that there were four causes of Africa's rise. Three
of the four are listed here - which one does not belong?
A) technology having large effects B) the right kind of population growth
C) better governance and economic management D) greatly increased agricultural productivity
2) There is a messy, intermittent, and sometimes sadly violent North-South divide across central Africa between
A) Christian and animist (local African) religions B) Sunni and Shiite Moslems
C) oil-rich states and the others D) Muslim and Christian terrritories
3) Nigeria has lost a very great deal of money to corruption and incompetence. The amount involved is, very
roughly:
A) Hundreds of millions of dollars B) Hundreds of billions of dollars
C) Tens of millions of dollars D) About 2.5 to 3.0 trillion dollars
4) Given the large debt increases in the last 20 years, why have we not seen even more sovereign defaults among
LDCs (and, for that matter, OECD countries)?
A) high real interest rates
B) the pattern of declining interest rates
C) The successful implementation of austerity programs and taxes on the well-off in LDCs
D) The massive debts have been offset by huge debt forgiveness totals
5) The IMF was accused in one article of hypocrisy because it advocated
A) austerity in rich countries and spending in poor ones
B) austerity at all times and places
C) austerity in poor countries and spending in rich ones
D) printing money when necessary to kick-start dormant economies
6) Alexander Sack wrote that debt was odious when
A) The funds originally loaned had not been used in "the interests of the State."
B) The interest rates charged were so high as to be odious
C) A significant fraction of the money had been stolen by corrupt officials
D) Repaying that debt would result in significant social hardship
7) Easterly established that more indebted countries were characterized by all of these except
A) A lower black market premium
B) Smaller bank systems
C) A faster rate of asset sales
D) New borrowing that exceeded any debt relief given
1
8) Easterly pointed out that in some governments, the divisions across ethnic groups result in a version of the
A) negative externality prob ...
Lesson 2.8IntroductionCourse ObjectivesThis lesson will addr.docxsmile790243
Lesson 2.8
Introduction
Course Objectives
This lesson will address the following course outcomes:
· 7. Read, interpret, and make decisions based upon data from tables and graphical displays such as line graphs, bar graphs, scatterplots, pie charts, and histograms. Given data, choose an appropriate type of graphical display and create it using scales appropriate to the application.
Specific Objectives
Students will understand that
· the scale on graphs can change perception of the information they represent.
· to fully understand a pie graph, the reference value must be known.
Students will be able to
· calculate relative change from a line graph.
· estimate the absolute size of the portions of a pie graph given its reference value.
· use data displayed on two graphs to estimate a third quantity.
Graphs are a helpful way to summarize data. Often there are many ways to portray information graphically. Sometimes one form is easier to read than another. Sometimes the way a graph is made can affect the impression it gives. Today, you will look at three examples of such graphs.
Line Graphs
Problem Situation 1: Reading Line Graphs
#1 Points possible: 5. Total attempts: 5
Compare the two graphs below.
Which statement best descries the relationship between the graphs?
· The data appears to be different - the first graph shows larger changes in income
· They appear to show the same data, but on different vertical scales.
#2 Points possible: 5. Total attempts: 5
What was the average household income in 1999?
$
#3 Points possible: 5. Total attempts: 5
Based on these two graphs, would it be fair to say that the average household income was significantly lower in 2009 than it was in 1999?
Give your answer with an explanation, then compare your answer to the one provided.
Bar Graphs
Problem Situation 2: Reading Bar Graphs
In this example, we will be looking at bar graphs. Before doing that, answer the question about Jeff’s Housing so that you can understand the questions about national debt and GDP that follow.
#4 Points possible: 15. Total attempts: 5
Jeff’s Housing: Two pairs of statements are given below.
In 1990, Jeff spent $1,000 per month on housing.
In 2010, Jeff spent $2,000 per month on housing.
In 1990, Jeff spent 20% of his income on housing.
In 2010, Jeff spent 10% of his income on housing.
a. How can both pairs of statements be true?
· It is not possible for both statements to be true, since one shows his housing costs rising, and the other shows his housing costs decreasing
· Both statements can be true if his income increased significantly from 1990 to 2010
· Both statements can be true if his income fell significantly from 1990 to 2010
b. Calculate Jeff's monthly income in 1990
$
c. Calculate Jeff's monthly income in 2010
$
GDP, or Gross Domestic Product, can be thought of as the country’s income. It is the value of all goods and services the country produces. The national debt is how much the country owes. Just as Jeff’s spendi ...
Similar to Page 1 of 17 ECON 201 Introduction to Macroeconomics .docx (20)
For this assignment, students will need to observe the activities th.docxalfred4lewis58146
For this assignment, students will need to observe the activities that take place in a courtroom setting. Find a video on YouTube... Pay attention to the courtroom actors including the judge, jury, attorneys, and defendant. Complete a one page reflection of your experience. Provide details about the case/cases you heard and note if anything surprised you during your observation.
Use APA format for this assignment.
.
For this assignment, select a human service organization from .docxalfred4lewis58146
For this assignment, select a human service organization from a public, nonprofit, or government sector that you are familiar with, or one that you find interesting. You will use this organization to complete all of the course assignments. You must be able to access information about the organization’s governance, financial sources and practices, mission, population served, and its political and social landscape. Review all the assignments now to verify the types of information you will need about the organization in order to complete them.
The following list provides examples of acceptable types of organizations. You can select an organization of the types included on this list or propose another type of organization to your instructor. The organization must provide human service program services. The selected organization will be included in all your assignments, so you will look at leadership and collaboration practices for that organization through several areas of focus.
Possible Organization Types
City, county, or state human services or mental health programs.
State hospitals (Western State Hospital, Milwaukee County Hospital, or another state or county hospital in your area).
School-based human services or case management programs.
Private mental health organizations.
Employee assistance programs.
For-profit hospital or health care organizations (Humana, Kaiser-Permanente, Aurora, etcetera).
Catholic community services.
Lutheran Social Services.
.
For this Assignment, read the case study for Claudia and find tw.docxalfred4lewis58146
For this Assignment, read the case study for Claudia and find two to three scholarly articles on social issues surrounding immigrant families.
By Day 7
In a 2- to 4-page paper, explain how the literature informs you about Claudia and her family when assessing her situation.
Describe two social issues related to the course-specific case study for Claudia that inform a culturally competent social worker.
Describe culturally competent strategies you might use to assess the needs of children.
Describe the types of data you would collect from Claudia and her family in order to best serve them.
Identify other resources that may offer you further information about Claudia’s case.
Create an eco-map to represent Claudia’s situation. Describe how the ecological perspective of assessment influenced how the social worker interacted with Claudia.
Describe how the social worker in the case used a strengths perspective and multiple tools in her assessment of Claudia. Explain how those factors contributed to the therapeutic relationship with Claudia and her family.
Support your Assignment with specific references to the resources. Be sure to provide full APA citations for your references.
.
For this assignment, download the A6 code pack. This zip fil.docxalfred4lewis58146
For this assignment, download the
A6 code pack
. This zip file contains several files:
main.cpp
- the predetermined main.cpp. This file shows the usage and functionality that is expected of your program. You are not allowed to edit this file. You will not be submitting this file with your assignment.
CMakeLists.txt
- the preset CMake file to build with your functions files.
input/greeneggsandham.txt
- the contents of Green Eggs and Ham in text format.
input/aliceChapter1.txt
- the first chapter of Alice in Wonderland in text format.
output/greeneggsandham.out
- the expected output when running your program against the
greeneggsandham.txt
file
output/aliceChapter1.out
- the expected output when running your program against the
aliceChapter1.txt
file
Your task is to provide the implementations for all of the referenced functions. You will need to create two files:
functions.h
and
functions.cpp
to make the program work as intended.
You will want to make your program as general as possible by not having any assumptions about the data hardcoded in. Two public input files have been supplied with the starter pack. We will run your program against a third private input file.
Function Requirements
The requirements of each function are given below. The input, output, and task of each function is described. The functions are:
promptUserForFilename()
openFile()
readWordsFromFile()
removePunctuation()
capitalizeWords()
filterUniqueWords()
alphabetizeWords()
countUniqueWords()
printWordsAndCounts()
countLetters()
printLetterCounts()
printMaxMinWord()
printMaxMinLetter()
promptUserForFilename()
Input
: None
Output
: A string
Task
: Prompt the user to enter a filename.
openFile()
Input
: (1) The input file stream (2) The string filename to open
Output
: True if the file successfully opened, False if the file could not be opened
Task
: Open the input file stream for the corresponding filename. Check that the file opened correctly. The string filename will remain unchanged.
readWordsFromFile()
Input
: The input file stream
Output
: A vector of strings
Task
: Read all of the words that are in the filestream and return a list of all the words in the order present in the file.
removePunctuation()
Input
: (1) A vector of strings (2) A string of all the punctuation characters to remove
Output
: None
Task
: For each word in the vector, remove all occurrences of all the punctuation characters denoted by the punctuation string. When complete, the input vector will now hold all the words with punctuation removed. The punctuation string will remain unchanged.
capitalizeWords()
Input
: A vector of strings
Output
: None
Task
: For each word in the vector, convert each character to its upper case equivalent. When complete, the input vector will now hold all the words capitalized.
filterUniqueWords()
Input
: A vector of strings
Output
: A vector of strings
Task
: The function will return only th.
For this assignment, create infographic using the Canva website..docxalfred4lewis58146
For this assignment, create infographic using the Canva website. Pictorially and using short phrases, depict the way in which an organization you are affiliated (Charter School) with celebrates its achievements.
Next, identify research conducted that supports and emphasizes the importance of leaders’ taking the time to celebrate. How does a leader’s taking the time to recognize victories and reinforce shared values enhance the culture and climate of an organization?
Then, explain how leaders could build upon or improve purposeful celebrations within the organization. Make sure that you utilize scholarly literature and document supportive research for the short phrases identified and used in your Canva infographic.
Length: 1 infographic and 2–3 page essay, not including references or title page.
References: Minimum of five scholarly resources
.
For this assignment, compare California during the Great Depression.docxalfred4lewis58146
For this assignment, compare California during the Great Depression and Great Recession. Provide historical details about California during the Great Depression. What did Californians go through? Think economic, social, political, etc., for the historical details. Describe (at least) one similarity and one difference between the two eras.
You may also compare the Great Depression to the economic problems caused by Covid-19 in 2020. Focus on California, not the United States.
Requirements: 500 words
Plagiarism check
.
For this assignment, create a 10- to 12-slide presentation in Mi.docxalfred4lewis58146
For this assignment, create a 10- to 12-slide presentation in Microsoft PowerPoint that addresses the following points:
What are the points of conflict between Sunni and Shia Muslims? Where do their interpretations of Islam differ significantly?
How and when did these conflicts come into existence?
In what ways do they share the same beliefs? Is antipathy toward the West an automatic position?
Identify which nations are predominantly Sunni and which are Shia. Illustrate with a map.
Provide an example of at least one significant terrorist action by each branch of Islam.
Discuss whether counterterrorism authorities should prepare differently for Sunni terrorism than they would for Shia terrorism.
.
For this assignment, begin by reading chapters 12-15 in Dr. Bells t.docxalfred4lewis58146
For this assignment, begin by reading chapters 12-15 in Dr. Bell's text. Then, consider and respond to the following questions.
The SALT talks accomplished little, but it was important to keep both parties talking. Does the evidence of the 1970s and 1980s support this thesis? Support your opinion with at least three examples.
Critics of "Star Wars" argued that an effective nuclear defense shield would have increased the dangers of nuclear war. How so?
During much of the 1970s, the Soviets became increasingly dependent on US grain in order to feed their people. These exports were popular with American farmers, but played a more ambiguous role in American efforts to control the Soviets. If you had been a presidential advisor for Presidents Ford and Carter, what economic strategy would you have recommended?
The Soviet invasion and occupation of Afghanistan has been described as the Soviets’ Vietnam. Discuss at least three similarities and one dissimilarity between these conflicts.
.
For this assignment, assume you are the new Secretary of Homelan.docxalfred4lewis58146
For this assignment, assume you are the new Secretary of Homeland Security. You are drafting a Policy Document referred to as a “White Paper” for the Biden Administration to highlight the impact of open/closed borders in the age of COVID-19 on migration, asylum seekers, and economic recovery. In this white paper, consider the following to frame your paper.
Define what YOU believe an “OPEN” vs “CLOSED” border means especially when dealing with those seeking asylum. Reminder that you can provide your opinion without using “I think” or something similar.
How do you believe illegal migrants can be treated humanely and with dignity/inclusion?
How does an “open” vs a “closed” border impact the United States economy?
What are your recommendations for the next 12-24 months on specific steps that the new administration needs to take?
DO NOT answer this as if it is a four Question Exam. This is a WHITE PAPER and is a single narrative framed by these questions, but do NOT use first person (I statements).
.
For this assignment, address the following promptsIntroductor.docxalfred4lewis58146
For this assignment, address the following prompts:
Introductory paragraph to topic about unemployment.
Write an introductory paragraph with at least 150 words that clearly explains the topic, the importance of further research, and ethical implications.
My thesis statement:
Unemployment and lack of economic opportunity have social consequences creating anxiety and added stress because it allows for reduced economic growth and directly influences our society's mental, physical, and emotional well-being
(A thesis statement should be a concise, declarative statement. The thesis statement must appear at the end of the introductory paragraph.)
Annotated bibliography.
Develop an annotated bibliography to indicate the quality of the sources you have read.
Summarize in your own words how the source contributes to the solution of the global societal issue for each annotation.
Address fully the purpose, content, evidence, and relation to other sources you found on this topic (your annotation should be one to two paragraphs long—150 words or more.
Include no less than five scholarly sources in the annotated bibliography that will be used to support the major points of the Final Paper.
Demonstrate critical thinking skills by accurately interpreting evidence used to support various positions of the topic.
.
For this assignment, analyze the play by focusing on one of the .docxalfred4lewis58146
For this assignment, analyze the play by focusing on
one
of the following characters: Cassio, Desdemona, Othello, or Iago. Explore the motives, emotions and circumstances of the character you choose, and his or her relationships with all the other significant characters in the play. Try to give your reader a good sense of why things play out as they do. Each of these characters has significant interactions with all the others, and you will end up discussing them all no matter which one you choose to focus on. But try to explain what happens in
Othello
by following the trajectory of a single character throughout the entire play. As always, use short but effective quotations from the play to point out significant words and actions, but focus mainly on your explanations of what the words and deeds mean and why we should agree with your analysis.
To cite the text, place
A
ct,
S
cene, and
L
ine numbers in parentheses at the end of your quotation. Example: “Your quotation here” (1.3.5).
.
For this assignment I would like you to answer these questions.docxalfred4lewis58146
For this assignment I would like you to answer these questions
1. Explain what a black hole is, describe its characteristics (size, mass), and give a detailed explanation on how they form. Make sure to explain what the Schwarzschild radius and event horizon are. Describe the two types of black holes.
2. Describe the observational evidence for black holes that are discussed in Chapter 15.
Bonues: Do a little research on the Internet (read a few articles) and summarize how astronomers were able to make this image of a black hole. This came out in April 2019.
.
For the Weekly Reports I need 2 reports. For the First two weeks the.docxalfred4lewis58146
For the Weekly Reports I need 2 reports. For the First two weeks they need to do the weekly report and each report must be a minimum of one page.
For the Final Report Its only 1, But it's pretty much putting all the weeks together to do one final report. It needs to be minimum 2 pages
.
For the shortanswer questions,you will need to respo.docxalfred4lewis58146
For the
short
answer questions,
y
ou will need to respond to 7
of the questions
provided (bellow). Each answer should be around
200 words
. Your answers should provide evidence of engagement with and understanding of the key concepts about identity, alienation, rationality, and power.
Your answers should be expressed in academic English.
You will not be able to use direct quotations from the readings or lecture material.
Explain concepts in your own words; if you cannot clearly explain an idea/concept in your own words, you probably haven’t yet fully grasped its meaning.
To what extent can identities be said to be "integral" to a person (i.e. is a particular identity an essential feature of who you are)?
When thinking sociologically about identity, subject positions are associated with roles learned through socialisation. Explain how individuals learn those roles through socialisation?
According to Benedict Andersen the nation is a cultural artefact and an imagined community. What did he mean by this and what are key means through which the nation is imagined?
Marx described “alienation” as an outcome of capitalist economic relations. Sociologists have since expanded the concept to think about how it might relate to other social processes (i.e. “social alienation”). In what other ways might we be said to experience alienation in society?
Gramsci understood hegemony as a form of rule in which subordinate groups consent to the exercise of power or domination. According to Gramsci how does hegemony operate in capitalist societies?
Weber saw rationalisation as an “iron cage” that increasingly dominated all social life. Discuss how rationalisation shapes higher education.
According to Marxists how do relationships of power operate in capitalist societies?
According to Foucault how does modern disciplinary power differ from traditional sovereign power? (e.g. as exercised by monarchs, kings and emperors)
.
For the sake of argument (this essay in particular), lets prete.docxalfred4lewis58146
For the sake of argument (this essay in particular), let's pretend that
Sophia (Links to an external site.)
has discovered a fundamental truth about our concept of the soul: that it is, as she defined it,
the mind's essence
.For this essay, I'd like you to first take a deep dive into
defining
and
elaborating
on what that might mean
(to Sophia, then, as a consequence, to humanity) Then, I'd like you to take into consideration the technologies that have had the greatest impact on how the soul-as-mind's-essence idea expresses itself in our era. Can we have a "virtual afterlife"? A "digital soul"? Can we beat death? If we create nonbiological entities into which we put our identities, and, thus, that entity "thinks" and "feels" like it is "you," well, to what degree can we say that it is "you" and that it is a contemporary version of how Sophia defines the soul? Furthermore, do you think that is what Sophia means--a digital simulacrum of the self? I am hoping you consider how our civilization's ideas are profoundly influenced by our technological world, and that these philosophical questions only exist in the first place because we have invented tools that inevitably create problems for and probe into the most sacred spaces of human identity.
This essay should be 4.5 pages minimum and, as usual, MLA format.
.
For the proposal, each student must describe an interface they a.docxalfred4lewis58146
For the proposal, each student must describe an interface they are interested in exploring and developing. The interface can be screen-oriented or other. It may be multi-model, web-based, mobile, etc. Please describe the interface, its intended target audience, and the data collection method you think is most appropriate for developing this system.
Your proposal should be between 1 and 2 pages. Submit the proposal in a word document
.
For the project, you will be expected to apply the key concepts of p.docxalfred4lewis58146
For the project, you will be expected to apply the key concepts of program evaluation to conduct a comprehensive evaluation, using quantitative and qualitative methods, of a health behavior change intervention among residents of a rural or underserved community. Essentially, you will develop, implement and evaluate a small-scale health behavior change intervention among 5-10 individuals residing in a rural or underserved community. You will be asked to choose a specific health behavior (e.g. healthy eating, physical activity, stress management, getting adequate sleep, increased water consumption, following dental hygiene recommendations, reducing distracted driving, etc.) that you can feasibly promote for a duration of two weeks. You may ask family members, friends, co-workers, neighbors or other individuals who you interact with on a regular basis to participate in your intervention as long they reside in a rural or underserved community. The intervention may occur via social media (e.g. posting health education messages on a Facebook page and/or facilitating discussion of health behavior among participants on Facebook), print media, email interaction, phone conversations, text messages, or in person; you may also employ a combination of these techniques. The focus of this project will be on the evaluation of the intervention. You will be expected to identify which evaluation questions you will be exploring, use both quantitative and qualitative methods to collect data, and analyze and interpret your qualitative data. You will be required to submit all of your data as well as expound on the development, implementation and evaluation of your health behavior change intervention in a paper.
should be
4-6 pages and double-spaced using 12- pt. Times Roman or Arial font with 1- inch page margins
.
Please see the following document regarding the required content of the paper:
Required Content for Evaluation Project Paper-1.pdf
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1 page
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Page 1 of 17 ECON 201 Introduction to Macroeconomics .docx
1. Page 1 of 17
ECON 201: Introduction to Macroeconomics
Final Exam
December 5, 2011
NAME: _________________________________
Circle your TA’s name: Agustin Brian Meysam
Circle your section time: 9 a.m. 3 p.m.
INSTRUCTIONS:
1. The exam lasts 2 hours.
2. The exam is worth 120 points in total: 45 points for the
multiple choice questions (Part A), and
75 points for the six analytical problems (Part B).
3. Write your answers for part A (the multiple choice section) in
the blanks below. You won’t
get credit for circled answers in the multiple choice section.
There is no penalty to guessing, so
be sure to answer all of them.
4. Place all of your answers for part B in the space provided.
2. 5. You must show your work for part B questions. There is no
need to explain your answers for the
multiple choice questions.
6. Calculators are permitted. Books, notes, reference materials,
etc. are prohibited.
7. Good luck!
PART A: Multiple Choice Problems. Answer multiple choice
questions in the space provided
below. PLEASE USE CAPITAL LETTERS.
1 11 21 31 41
2 12 22 32 42
3 13 23 33 43
4 14 24 34 44
5 15 25 35 45
6 16 26 36
7 17 27 37
8 18 28 38
9 19 29 39
10 20 30 40
3. MC Q1 Q2 Q3 Q4 Q5 Q6 Total
Page 2 of 17
Part A. Multiple Choice Questions (45 points)
1. Money is
A) backed by gold in Fort Knox.
B) the same as income.
C) the value of all coins and currency in circulation at any time.
D) anything that is generally accepted as a medium of exchange.
2. The development of money as a medium of exchange has
facilitated the expansion of trade because
A) holding money increases people's income.
B) no other mediums of exchange are available.
C) money eliminates the "double coincidence of wants"
problem.
D) holding money increases people's wealth.
4. 3. The price of bonds and the interest rate are
A) not related.
B) positively related.
C) negatively related.
D) sometimes positively related and other times negatively
related, depending on the bond payments.
4. As the interest rate falls, people hold ________ money
instead of bonds because the opportunity cost of
holding money has ________.
A) more; fallen
B) more; risen
C) less; fallen
D) less; risen
5. The lecture and readings explain the recent rise in food
prices by
A) Subsidies to ethanol
B) Economic growth in China
C) Economic growth in the US
5. D) Quotas on corn imports
E) A) and B)
F) A) and D)
6. An example of a contractionary monetary policy is
A) an increase in the required reserve ratio.
B) a reduction in the taxes banks pay on their profits.
C) a decrease in the discount rate.
D) the Fed buying government securities in the open market.
7. Which of the following sequence of events follows an
expansionary monetary policy?
A) r↓ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
B) r↑ ⇒ I↑ ⇒ AE↓ ⇒ Y↑.
C) r↑ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
D) r↓ ⇒ I↑ ⇒ AE↑ ⇒ Y↑.
Page 3 of 17
6. 8. A major source of economic growth discussed in the course
packet readings but not in the textbook is
A) Ignoring the effects of environmental pollution
B) Saving instead of consuming
C) Accumulating human capital
D) Rural-urban migration
9. The aggregate demand curve shows a ________ relationship
between ________ and aggregate output
________.
A) positive; the price level; demanded
B) negative; the price level; supplied
C) negative; the price level; demanded
D) positive; the interest rate; demanded
10. When the general price level rises,
A) investment rises as a result of the real wealth effect.
B) consumption increases as a result of the multiplier effect.
C) investment rises as a result of the multiplier effect.
D) consumption falls as a result of the real wealth effect.
7. Refer to the information provided in Figure 1 below to answer
the three questions that follow.
Figure 1
11. Refer to Figure 1. An aggregate demand shift from AD2 to
AD0 can be caused by
A) an increase in the price level.
B) a decrease in the price level.
C) a decrease in money supply.
D) a decrease in taxes.
12. Refer to Figure 1. An aggregate demand shift from AD1 to
AD0 can be caused by
A) an increase in the price level.
B) a decrease in the price level.
C) a decrease in government spending.
D) an increase in money supply.
8. Page 4 of 17
13. Refer to Figure 1. Suppose the economy is at Point A, an
decrease in government purchases can cause
a movement to Point
A) E.
B) B.
C) C.
D) D.
14. The acronym “ZLB” refers most directly to
A) monetary policy
B) fiscal policy
C) agricultural subsidies
D) environmental pollution
Refer to the information provided in Figure 2 below to answer
the two questions that follow.
9. Figure 2
15. Refer to Figure 2. The money demand curve will shift from
to
, if
A) the level of aggregate output increases.
B) the interest rate decreases.
C) the price level decreases.
D) the inflation rate increases.
16. Refer to Figure 2. If the money demand curve shifts from
to
,
A) planned investment will increase and aggregate output will
increase.
B) planned investment will decrease and aggregate output will
decrease.
C) planned investment will increase and aggregate output will
decrease.
D) planned investment will decrease and aggregate output will
increase.
10. 17. Which of the following is not attacked by the Economist
article as a “myth” about the Great
Depression?
A) The Great Depression started with the stock market crash of
October, 1929
B) The New Deal raised wages and prices in 1933-35
C) Policymakers were passive and did nothing in 1929-33
D) The New Deal was responsible for the recovery
Page 5 of 17
18. The Economist article the “secret sauce” discusses a
concept called “Total Factor Productivity” As
explained in lecture, this is the same as the textbook’s concept
of
A) Productivity
B) Embodied technical change
C) Disembodied technical change
D) Human capital
11. 19. A course packet article about business cycles concludes
that
A) Households should not worry about saving because the
government will spend
B) Households should not worry about saving because the
government should spend
C) The government should not worry about spending because
households will spend
D) The government should not worry about saving because
households will spend
Refer to the information provided in Figure 3 below to answer
the three questions that follow.
Figure 3
20. Refer to Figure 3. Which of the following causes the
economy to move from Point A to Point E?
A) technological progress
B) an increase in the price level
C) an oil embargo that increases the price of oil
D) an influx of immigrants
12. 21. Refer to Figure 3. Suppose the economy is at Point A, an
increase in the price level moves the economy
to Point
A) E.
B) B.
C) C.
D) D.
22. Refer to Figure 3. During the 1990s, many firms in the
United States were investing in new capital. If
the economy was originally at Point A, this would have caused a
movement to Point
A) E.
B) B.
C) C.
D) D.
Page 6 of 17
13. 23. Which of the following are not examples of a fiscal policy
stimulus cutting unemployment by half or
more
A) Germany 1933-37
B) US 2001-06
C) US 1940-42
D) US 2008-11
E) A) and B)
F) B) and D)
24. If a decrease in net taxes in the United States resulted in a
very large increase in aggregate output and
a very small increase in the price level, then the U.S. economy
must have been
A) on the very steep part of the short-run aggregate demand
curve.
B) on the very flat part of the short-run aggregate demand
curve.
C) on the very flat part of the short-run aggregate supply curve.
D) on the very steep part of the short-run aggregate supply
curve.
14. 25. If an economy like China’s has growth in real per-capita
real GDP of 10% per year, the level of its
per-capita GDP will triple in __ years
A) 7
B) 9
C) 11
D) 13
Refer to the information provided in Figure 4 below to answer
the three questions that follow.
Figure 4
25. Refer to Figure 4. Suppose the economy is currently at Point
A producing potential output Y0. If the
government increases spending, the economy moves to Point
________ in the short-run and to Point
________ in the long-run.
A) D; E
B) B; D
15. C) C; B
D) B; C
Page 7 of 17
27. Refer to Figure 4. For this economy to produce Y1 and
sustain it without inflation
A) potential output must increase.
B) the government must implement an expansionary fiscal
policy.
C) the government must implement an expansionary monetary
policy.
D) the price of oil must increase.
28. The large government deficit experienced by the U. S.
during 2010-11 was due to the ratio of
government spending to GDP being unusually ____________
and the ratio of government revenues to
GDP being unusually _____________.
A) High, Low
16. B) Low, High
C) High, High
D) Low, Low
Refer to the information provided in Figure 5 below to answer
the three questions that follow.
Figure 5
29. Refer to Figure 5. Cost-push inflation occurs if
A) the aggregate supply curve shifts from AS1 to AS0.
B) the economy moves from Point A to Point B on aggregate
supply curve AS1.
C) the aggregate supply curve shifts from AS1 to AS2.
D) the economy moves from Point A to Point C on the aggregate
supply curve AS1.
30. Refer to Figure 5. Assume the economy is at Point A.
Higher oil prices shift the aggregate supply
curve to AS2. If the government decides to counter the effects
of higher oil prices by increasing
government spending, then the price level will be ________
than P2 and output will be ________ than Y2.
17. A) greater; less
B) less; less
C) greater; greater
D) less; greater
31. Refer to Figure 5. Assume the economy is currently at Point
A on aggregate supply curve AS1. An
increase in inflationary expectations that causes firms to
increase their prices
A) moves the economy to Point C on aggregate supply curve
AS1.
B) moves the economy to Point B on aggregate supply curve
AS1.
C) shifts the aggregate supply curve to AS2.
D) shifts the aggregate supply curve to AS0.
Page 8 of 17
32. A rightward shift in the aggregate demand curve generates a
________ inflation and ________ output.
A) demand-pull; higher
18. B) cost-push; lower
C) demand-pull; lower
D) cost-push; higher
33. The Federal Reserve's policy to "lean against the wind"
means that
A) the Fed slows money growth as the economy slows.
B) the Fed lowers taxes as the economy slows.
C) the Fed increases money growth as the economy slows.
D) the Fed raises required reserves as the economy slows.
34. The recognition lag of stabilization policy represents
A) the time that it takes for the economy to adjust to the new
conditions after a new policy is introduced.
B) the time that is necessary to put the desired policy into
effect.
C) the time needed for the Federal Reserve Board to meet.
D) the time that it takes for policy makers to recognize a change
in the economy.
35. In general, fiscal policy has a longer ________ lag than
monetary policy but shorter ________ lag.
A) response; implementation
19. B) implementation; response
C) recognition; response
D) implementation; recognition
36. The time interval taken for information to be communicated
was reduced by the greatest magnitude
by the invention of:
A) The telephone
B) The internet
C) The telegraph
D) The personal computer
37. The lecture diagnosis of the weakness of the 2010-11
economic recovery was …
A) Weakness of monetary policy
B) Weakness of fiscal policy
C) The double hangover
D) (A) and (C)
E) (B) and (C)
20. 38. The economic impact of ________ during expansionary
periods is to moderate growth.
A) positive demand shocks
B) tax cuts
C) automatic stabilizers
D) implementation lags
39. An example of automatic stabilizers is
A) government spending rising during an expansion.
B) government spending falling during a recession.
C) deficit targeting.
D) taxes rising in an expansion.
Page 9 of 17
40. Which of the following concepts discussed in lecture but
not in the book explain why many poor
countries remain so poor?
A) Physical capital
B) Political capital
21. C) Human capital
D) Embodied technical change
41. Diminishing returns to a factor implies that with capital
fixed
A) as labor increases, labor productivity eventually decreases.
B) as output increases, labor increases.
C) as labor increases, output decreases.
D) as labor increases output always increases.
42. A company uses 100 workers and 30 units of capital to
produce 500 units of output. If this company
increases its capital to 50 units and, as a result, its output
increases by 300 units, the productivity of labor
________ to ________ units per worker.
A) increases; 1
B) increases; 3
C) increases; 8
D) decreases; 4
43. Which of the following is NOT an investment in human
22. capital?
A) older workers return to school to update their skills
B) the Ferris Advertising Agency replaces its secretaries'
typewriters with personal computers
C) the Precision Tool Company teaches all its workers how to
repair all the machines in the factory
D) local governments begin providing free hepatitis
vaccinations to any resident who wants one
44. The convergence theory suggests that a diagram plotting the
ratio of a country’s level of real GDP per
capita in 1960 on the horizontal axis relative to the US, and its
growth rate from 1960 until now on the
vertical axis, should display the following pattern
A) A negative slope
B) A positive slope
C) A horizontal slope
D) The convergence theory makes no prediction about the slope
on that diagram
45. In Econ 201 during Fall 2011, the example of the
Netherlands was introduced in relation to which
topic?
23. A) Agriculture
B) Economic growth
C) Unemployment
D) Monetary policy
Page 10 of 17
Part B: Short Answer Questions (75 points)
PROBLEM 1: (15 points): 1 point per blank
Complete the blanks using the following table. Round all values
to the nearest two decimal places,
including percentages. That is, answers should look like
13,300.72 or 29.87%.
112 113 Percentage Change
(LN formula)
Price Quantity Price Quantity
125mm Railguns 7900 2 8700 4
Quafe 50 450 44 250
24. Nominal GDP 1. 38,300 2. 45,800 3. 17.88%
Real GDP in 2009 prices 4. 38,300 5. 44,100 6. 14.10%
Real GDP in 2010 prices 7. 37,200 8. 45,800 9. 20.80%
GDP Deflator with base
year 2009
100
10. 103.85 11. 3.78%
GDP Deflator with base
year 2010
12. 102.96
100
13. -2.91%
14. What is the percentage growth rate in chain-weighted GDP?
_______________ 17.45%
15. What is the inflation rate according to the chain-weighted
GDP deflator? _______________
-0.43%
25. Page 11 of 17
PROBLEM 2: (8 points): point value specified
Answer the following questions using the following table.
Real GDP per capita Annual growth rate
Amarr 1100 1.3%
Dodixie 900 2.1%
1. (1 point) At the given growth rates, how many years will it
take for Amarr’s real GDP per capita
to quintuple (increase fivefold)? _______________ 123.80
2. (2 points) At the given growth rates, how many years will it
take for Dodixie to match Amarr’s real
GDP per capita? _______________ 25.08
3. (2 points) At what annual growth rate must Dodixie grow in
order to catch-up with Amarr in exactly
20 years? _______________ 2.30%
26. 4. (1 point) At what annual growth rate must Amarr grow to
ensure Dodixie never catches up?
_______________ 2.1%
5. (2 points) Suppose Dodixie can bomb Amarr and cause it to
suffer two years of zero growth before
resuming normal growth of 1.3%. How many years will it take
for Dodixie to match Amarr’s real GDP if
Amarr is bombed? _______________ 21.83
Page 12 of 17
PROB LE M 3 . (15 points) Complete the following blanks.
Suppose supply is given by P = 20 + 2Qs.
Suppose demand is given by P = 90 – 3Qd.
1. For this closed free market, complete the following table:
(1 point) Equilibrium Quantity 14
(1 point) Equilibrium Price 48
27. (1.5 points) Consumer Surplus 294
(1.5 points) Producer Surplus 196
2. Suppose the government provides a subsidy of $15 per unit.
Complete the following table:
(1 points) Quantity 17
(1.5 points) Price Paid (by consumers) 39
(1.5 points) Price Received (by producers) 54
(1.5 points) Consumer Surplus 433.5
(1.5 points) Producer Surplus 289
(1.5 points) Total Subsidy Cost 255
(1.5 points) Deadweight Loss 22.5
Page 13 of 17
28. PROB LE M 4 . (23 points)
The following table summarizes some macroeconomic quantities
of a country called Utopia:
Planned investment: I = 200
Government purchases: G = 400
Exports: EX = 100
Imports (as a function of Y): IM =
Autonomous taxes: TA = 200
Autonomous consumption: a = 50
- Let denote the marginal propensity to consume of the
country.
- In Utopia there is an income tax: let be the income tax ratio.
- Let be the imports-to-income ratio of this economy,
a. (2 points) Show the Multiplier of Utopia, as a function of
and .
b. (1 points) Assume, for the remaining of problem 3, the
following:
29. What is the numerical value of the Multiplier of this economy?
Multiplier
�
�−� �−� +�
Multiplier
�
�−� � �−
�
��
+� �
�
Page 14 of 17
c. (2 ponts) What is the level of autonomous planned
expenditure of Utopia?
30. d. (2 points) Calculate the equilibrium output of Utopia.
e. (4 points) What is the level of government surplus, and of
domestic private savings (S) in this
economy?
Solution
:
Ap
= a
- b Ta + I +G + EX = 50 – 0.8 (200) +200+400+100 = 590
