Your Name Street Address City, State Zip code Phone number Email address (Address followed by 1-2 spaces) Date of Letter (Date followed by 1-2 spaces) Name of Hiring Manager Hiring Manager’s Job Title Company Name Street Address City, State Zip code (Address followed by 1-2 spaces) Dear Mr. Manager: (particular person) (Greeting and colon followed by one space) Introductory Paragraph: This paragraph should indicate why you are writing and include the title of the position for which you are applying. This paragraph should also mention where you learned about the position. If you were referred to the position, provide the name of the person who referred you as it could attract more attention. Body: The body of your cover letter should be your sales pitch. In the body, you will explain why you are interested in the position and how your qualifications make you the best fit for the position. Emphasize your knowledge, skills, and abilities that match the job description. You should also use this section to showcase that you are knowledgeable of the company’s needs and the position. Closing Paragraph: In this paragraph, you should indicate a course of action. If you are seeking an interview, ask for one! Using an active approach in closing your cover letter places you in the position to initiate contact with the employer. If you include a specific follow up date, make sure to follow up on that date. Be sure to thank the employer for his or her time and consideration. (Entire body of the letter should be single spaced, left justified, and have one space between each paragraph) Sincerely, (Closing, “Sincerely” is appropriate, followed by 3 spaces to leave room for your signature) Your Signature Your Name PART 3 Question 1 Which of the following will cause a reduction in aggregate output? Answer a reduction in N a reduction in K a worsening in technology all of the above 0.25 points   Question 2 If Kt+1/N = Kt/N, we know that: Answer saving per worker equals depreciation per worker in period t. saving per worker is less than depreciation per worker in period t. saving per worker is greater than depreciation per worker in period t. the saving rate fell in period t. 0.25 points   Question 3 For this question, assume that expected inflation this year is equal to past year's inflation. Also assume that the unemployment rate has been equal to the natural rate of unemployment for some time. Given this information, we know that: Answer the rate of inflation should be zero. the rate of inflation should neither increase nor decrease. the rate of inflation should steadily increase. the rate of inflation should steadily decrease. the natural rate of unemployment should steadily decrease. 0.25 points   Question 4 The capital-labour ratio will increase when which of the following conditions is satisfied? Answer Investment per worker equals saving per worker. Inv.

1. Your Name
Street Address
City, State Zip code
Phone number
Email address (Address followed by 1-2 spaces)
Date of Letter (Date followed by 1-2 spaces)
Name of Hiring Manager
Hiring Manager’s Job Title
Company Name
Street Address
City, State Zip code (Address followed by 1-2 spaces)
Dear Mr. Manager: (particular person) (Greeting and colon
followed by one space)
Introductory Paragraph: This paragraph should indicate why you
are writing and include the
title of the position for which you are applying. This paragraph
should also mention where you
learned about the position. If you were referred to the position,
provide the name of the person
who referred you as it could attract more attention.
Body: The body of your cover letter should be your sales pitch.
In the body, you will explain
why you are interested in the position and how your
qualifications make you the best fit for the
position. Emphasize your knowledge, skills, and abilities that
match the job description. You
should also use this section to showcase that you are

2. knowledgeable of the company’s needs and
the position.
Closing Paragraph: In this paragraph, you should indicate a
course of action. If you are seeking
an interview, ask for one! Using an active approach in closing
your cover letter places you in the
position to initiate contact with the employer. If you include a
specific follow up date, make sure
to follow up on that date. Be sure to thank the employer for his
or her time and consideration.
(Entire body of the letter should be single spaced, left justified,
and have one space between each
paragraph)
Sincerely, (Closing, “Sincerely” is appropriate, followed by 3
spaces to leave room for your
signature)
Your Signature
Your Name
PART 3
Question 1
Which of the following will cause a reduction in aggregate
output?
Answer
a reduction in N

3. a reduction in K
a worsening in technology
all of the above
0.25 points
Question 2
If Kt+1/N = Kt/N, we know that:
Answer
saving per worker equals depreciation per worker in period t.
saving per worker is less than depreciation per worker in period
t.
saving per worker is greater than depreciation per worker in
period t.
the saving rate fell in period t.
0.25 points
Question 3
For this question, assume that expected inflation this year is
equal to past year's inflation. Also assume that the
unemployment rate has been equal to the natural rate of
unemployment for some time. Given this information, we know
that:
Answer

4. the rate of inflation should be zero.
the rate of inflation should neither increase nor decrease.
the rate of inflation should steadily increase.
the rate of inflation should steadily decrease.
the natural rate of unemployment should steadily decrease.
0.25 points
Question 4
The capital-labour ratio will increase when which of the
following conditions is satisfied?
Answer
Investment per worker equals saving per worker.
Investment per worker exceeds saving per worker.
Investment per worker exceeds depreciation per worker.
Saving per worker equals depreciation per worker.
Output per worker exceeds capital per worker.

5. 0.25 points
Question 5
Suppose there are two countries that are identical in every way
with the following exception: Country A has a lower
depreciation rate than country B. Given this information, we
know with certainty that:
Answer
the steady state growth rate will be the same in the two
countries.
the steady state growth rate will be higher in A than in B.
Capital per worker, K/N,/> will be higher in B.
Output per worker, Y/N, will be higher in B.
0.25 points
Question 6
The following equation can be used to represent how
individuals form expectations of inflation:
πte = θπt-1.
From 1970 on, the value of θ in the above
Answer
became gradually larger and approached 1.
became gradually smaller and approached zero.

6. remained constant at zero.
remained constant at negative one.
none of the above
0.25 points
Question 7
Which of the following will NOT cause an increase in the
natural rate of unemployment?
Answer
an increase in the markup, μ
an increase in unemployment benefits (included in z)
an increase in the expected inflation rate
a reduction in the response of wages to unemployment, α
none of the above
0.25 points
Question 8
Which of the following will likely cause an increase in output
per worker?

7. Answer
an increase in education expenditures
an increase in the saving rate
an increase in on-the-job training
all of the above
0.25 points
Question 9
Assume the following dynamic AD relation when the central
bank controls the interest rate:
g yt = 3% - (π t - π T ) .
In the medium run, a reduction in the inflation target from 9%
to 4% will cause the unemployment rate to:
Answer
decrease by 5%.
decrease by 4%.
increase by 5%.
increase by 4%.

8. remain unchanged.
0.25 points
Question 10
If output per capita grows by a constant 6% per year, then the
standard of living would grow by about ________ over 3 years.
Answer
12%
14%
18%
19%
22%
0.25 points
Question 11
Suppose there is a permanent increase in a country's saving rate.
This increase in the saving rate will cause:
Answer
a permanently higher level of capital per worker.

9. a permanently higher level of output per capita.
a permanently faster growth rate of output.
both of the first two answers above
none of the above.
0.25 points
Question 12
Constant returns to scale suggests that if N and K both increase
by 6%:
Answer
output (Y) will increase by more than 3%.
Y will increase by exactly 3% . it should be 6%
Y will increase by less than 3%.
the capital-labour ratio (K/N) will decrease.
0.25 points
Question 13
A permanent reduction in the saving rate will:

10. Answer
increase the growth of output per worker only temporarily.
increase the steady state growth of output per worker.
decrease the growth of output per worker only temporarily.
decrease the steady state growth of output per worker.
increase or decrease the steady state growth of output per
worker, depending on the level of saving to begin with.
0.25 points
Question 14
The "Lucas critique" is that:
Answer
policy changes affect expectations, which in turn affect the
impact of the policy.
increasing unemployment to reduce inflation is more costly to
society than economists traditionally think.
in the medium run, output always returns to its natural level.
macro data based on government surveys is inaccurate.

11. policy changes can affect the economy only when they are
expected.
0.25 points
Question 15
Assume that expected inflation is based on the following: πte =
θπt-1 , θ =1, we know that:
Answer
a reduction in the unemployment rate will have no effect on
inflation.
low rates of unemployment will cause steadily increasing rates
of inflation.
the actual unemployment rate will not deviate from the natural
rate of unemployment.
the Phillips curve illustrates the relationship between the level
of inflation rate and the level of the unemployment rate.
none of the above
0.25 points
Question 16
If the Phillips curve equation is
πt - πt-1 = -(ut - un), which of the following will increase the
inflation rate by 6 percentage points?
Answer

12. a 6 percentage point reduction in unemployment for one year
a 3 percentage point reduction in unemployment for 2 years
a 1 percentage point reduction in unemployment for 6 years
all of the above
none of the above
0.25 points
Question 17
If the saving rate is 1 (i.e., s = 1), we know that:
Answer
Capital per worker, K/N = 0.
Output per worker, Y/N = depreciation per worker.
Consumption per worker, C/N, will be at its highest level.
Output per worker, Y/N = 0.
0.25 points
Question 18
Which of the following events will cause an increase in output

13. per capita (Y/N)?
Answer
an increase in K
an increase in K/N
a reduction in K
all of the above
both of the first two anwers above
0.25 points
Question 19
Assume the Phillips curve is represented by the following:
πt -πt-1 = -α(ut - un). If α equals 4, the sacrifice ratio is equal
to:
Answer
0.25

14. 0.5
4
-4
0.25 points
Question 20
In New Zealand, the rate of saving is greater than in Australia
Given this information, we know, other things equal, that in the
long run New Zealand's:
Answer
growth rate will be greater than the Australian growth rate.
output per worker will be greater than Australian output per
worker.
capital per worker will be no different than the Australian
capital per worker.
all of the above
none of the above

15. PART 4
Question 1
Suppose that over the past decade, the Australian inflation is
greater than that in Japan. Further assume that during this same
period, the Australian dollar appreciates relative to the Japanese
yen. Given this information:
Answer
the real exchange rate remains unchanged.
the real exchange rate must decrease.
the real exchange rate must increase.
the real exchange rate can increase or remain the same, but not
decrease.
the real exchange rate can decrease or remain the same, but not
increase.
0.25 points
Question 2
A change in which of the following variables will have NO
direct effect on domestic demand?
Answer
domestic income

16. government spending
taxes
the interest rate (r)
none of the above
0.25 points
Question 3
In an open economy under flexible exchange rates, a reduction
in the interest rate will cause an increase in which of the
following?
Answer
investment
exports
net exports
all of the above
none of the above
0.25 points
Question 4
A real appreciation can initially cause an increase in output

17. when which of the following holds?
Answer
the Marshall-Lerner condition
the J-Curve effect
Net exports are initially zero.
Net exports are initially negative.
Net exports are initially positive.
0.25 points
Question 5
In an open economy under flexible exchange rates where the
central bank responds to inflationary pressure, a tax cut will
cause an increase in which of the following?
Answer
net exports
the exchange rate, E
exports
all of the above

18. none of the above
0.25 points
Question 6
Assume that the uncovered interest parity condition holds. Also
assume that the U.S. interest rate is greater than the U.K.
interest rate. Given this information, we know that investors
expect:
Answer
the pound to depreciate.
the pound to appreciate.
the dollar-pound exchange rate to remain fixed.
the U.S. interest rate to fall.
none of the above
0.25 points
Question 7
When the Australian dollar appreciates, we know that, other
things equal:
Answer
the dollar is less expensive to foreigners.

19. foreign goods are less expensive to Australians.
foreign currency is more expensive to Australians.
Australian goods are less expensive to foreigners.
none of the above
0.25 points
Question 8
Suppose two countries are engaged in a fixed exchange rate
regime. Also assume that financial market participants believe
this policy is credible. Given this information, we know that:
Answer
the exchange rate of foreign for domestic currency, E = 1.
E > 1.
domestic and foreign interest rates are equal, i = i*.
individuals will only hold domestic bonds.
0.25 points
Question 9
Suppose policy makers want to increase output (Y) and increase
net exports (NX). Which of the following policies would most
likely achieve this?

20. Answer
an increase in government spending
a real depreciation
an increase in government spending and an increase in the real
exchange rate
an increase in the real exchange rate
0.25 points
Question 10
Suppose policy makers want to increase output (Y) and keep net
exports (NX) constant. Which of the following policies would
most likely achieve this?
Answer
an increase in government spending
a real depreciation
an increase in government spending and a decrease in the real
exchange rate
an increase in the real exchange rate
0.25 points
Question 11

21. If the price level in Japan is 3.0, the price level in Australia is
6.0, and it costs 50 Yen to buy one Australian dollar, then the
real exchange rate between Australia and Japan (the price of
domestic goods in terms of Japanese goods) is ________.
Answer
0.005
0.05
0.5
50
100
0.25 points
Question 12
In an open economy under flexible exchange rates,
expansionary monetary policy will always cause:
Answer
a rise in output.
a drop in the interest rate.
a fall in the exchange rate, E.

22. all of the above
both a. and b.
0.25 points
Question 13
A nominal appreciation of the Mexican peso against the
Australian dollar indicates that:
Answer
the exchange rate of pesos per dollar, E, has increased.
E has decreased.
the peso price of the U.K. pound has increased.
the number of units of foreign currency that one can obtain with
one peso has decreased.
0.25 points
Question 14
As the economy moves up and to the left along the IS curve,
which of the following will occur when exchange rates are
flexible?
Answer
investment spending decreases.

23. consumption decreases.
the domestic currency appreciates.
all of the above
none of the above
0.25 points
Question 15
An increase in which of the following variables is likely to have
NO direct effect on domestic demand?
Answer
domestic income
the real exchange rate
taxes
the interest rate (r)
none of the above
0.25 points
Question 16
For an open economy, which of the following expressions

24. represents private saving (S)?
Answer
investment plus tax revenues less government expenditure plus
net exports, I + T - G + NX
I + T - G - NX
I + G + NX
G - T + NX - I
none of the above
0.25 points
Question 17
Suppose policy makers want to increase net exports (NX) and
keep output (Y) constant. Which of the following policies would
most likely achieve this?
Answer
an increase in government spending
a real depreciation
an increase in government spending and a decrease in the real
exchange rate

25. a decrease in the real exchange rate and a tax increase
0.25 points
Question 18
Suppose two countries make a credible commitment to fix their
bilateral exchange rate. In such a situation, we know that:
Answer
the uncovered interest parity condition no longer holds.
the real exchange rate must be constant as well.
each country can freely allow its interest rate to diverge from
that of the other country.
the interest rate in the two countries must be equal.
neither country will run a trade deficit.
0.25 points
Question 19
Suppose a country switches from a flexible to a fixed exchange
rate. Which of the following will occur as a result of this
change?
Answer
Monetary policy will become a more effective tool for changing
output.

26. Fiscal policy will become a less effective tool for changing
output.
Both fiscal and monetary policy will become more effective in
changing GDP.
Both fiscal and monetary policy will become completely
ineffective in changing GDP.
none of the above
0.25 points
Question 20
Assume that the price levels in two countries are constant. In
this situation, we know that:
Answer
neither the real nor the nominal exchange rate can change.
the real exchange rate can change, while the nominal exchange
rate is constant.
the nominal exchange rate can change, while the real exchange
rate is constant.
the real and nominal exchange rate must move together,
changing by the same percentage.

27. the nominal exchange rate will fluctuate more widely than the
real exchange rate.
Your Name
Street Address
City, State Zip code
Phone number
Email address
CAREER OBJECTIVE
Write one to two concise statements focusing on the position
you are seeking, the skills you want
to utilize, and/or the tasks in which you want to become
involved.
KEY SKILLS
position
vity
Focused
position

28. of jobs
-Related Skills
position
EDUCATION
Columbia Southern University, Orange Beach, AL
Bachelor of Science in Organizational Leadership
Anticipated Graduation Date: May, 2015
GPA: 3.75/4.00
PROFESSIONAL EXPERIENCE
Employer 1, City, ST Date Range
Job Title
• Begin listing job duties/experiences using present-tense action
verbs
• Focus on accomplishments, specific skills, special projects,
and promotions
Employer 2, City, ST Date Range
Job Title
• Begin listing job duties/experiences using past-tense action
verbs
• Focus on accomplishments, specific skills, special projects,
and promotions

29. VOLUNTEER EXPERIENCE
Name of Organization, City, ST Date Range
Job Title or Function
• Begin listing your experiences using action verbs highlighting
your level of involvement
RELEVANT TRAINING/CERTIFICATIONS
• List industry-related training pertinent to the position you are
seeking Date obtained
• List certifications in certain fields are required to perform the
job Date obtained
• List special training to set you apart from other applicants
Date obtained
PROFESSIONAL AFFILIATIONS
• Include civic or professional organizations with which you
maintain membership/activity
POSITION: Applying to teach online classes for a University
TEACHING EXPERIENCE
Dallas Selma Head Start
Southside Head Start July 2006-until present
Paraprofessional January 2008-May 2008

30. Assisted the Lead Teacher with instruction and providing one-
on-one support for the students. Lead multiple groups and
supervised activities. Observed teaching techniques to develop
own instructional methods, attended several workshop and
seminars.
EDUCATION
Columbia Southern University, Orange Beach, AL
Master of Business Adminstration in Human Resource
Graduation Date: February 2015 GPA: 3.85
Master of Arts in Early Childhood Education
Alabama State University 2011 GPA: 375
Bachelor of Science in Early Childhood Education
Concordia College Selma-
Graduation Date May 2008 GPA: 3.77
VOLUNTEER EXPERIENCE (JUST LIST SOME REVELANT
TO JOB APPLYING FOR).
Name of Organization, (Selma, AL)
(UNIONTOWN, AL)
(ALBERTA, AL)
Date Range Job Title or Function • Begin listing your
experiences using action verbs highlighting your level of
involvement
RELEVANT TRAINING/CERTIFICATIONS • List industry-

31. related training pertinent to the position you are seeking Date
obtained • List certifications in certain fields are required to
perform the job Date obtained • List special training to set
you apart from other applicants Date obtained
PROFESSIONAL AFFILIATIONS • Include civic or
professional organizations with which you maintain
membership/activity. (JUST LIST SOME REVELANT TO JOB
APPLYING FOR).