ECON 2301 TEST 3 Study Guide. Spring 2013
|
|
- Amelia Poole
- 6 years ago
- Views:
Transcription
1 ECON 2301 TEST 3 Study Guide Spring 2013 Instructions: 33 multiple-choice questions, each with 4 responses Students need to bring: (1) Sanddollar ID card; (2) scantron Form 882-E; (3) pencil; (4) calculator (optional) Chapter 29 Definition of money Functions of money Commodity vs fiat money Liquidity Monetary aggregates Central banking The Federal Reserve, it s structure, the Board of Governors and the FOMC Reserves Fractional reserve banking Money multiplier Financial crisis of tools of monetary policy Problems with tools Bank runs Fed funds rate vs discount rate Chapter 30 General definition of inflation Disinflation, deflation and hyperinflation Classical theory of money Demand and supply of money Classical dichotomy Quantity theory of money Equation of exchange Monetary neutrality Evidence for quantity theory hyperinflation episodes Inflation tax Fisher effect/hypothesis Costs of inflation shoeleather, menu, higher variability Tax distortions Anticipated vs unanticipated money supply increase effects Deflation Wizard of Oz Chapter 31 Trade balance and what determines it Net capital outflow and what determines it Relation between trade balance and net capital outflow Simple national income algebra to evaluate saving, investment and the trade balance US external balance history Nominal exchange rates appreciation and depreciation Real exchange rates PPP and its limitations Big mac standard
2 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate? a. store of value b. medium of exchange c. unit of account 2. Liquidity refers to a. the ease with which an asset is converted to the medium of exchange. b. the measurement of the intrinsic value of commodity money. c. the measurment of the durability of a good. d. how many time a dollar circulates in a given year. 3. Which of the following is included in both M1 and M2? a. savings deposits b. demand deposits c. small time deposits d. money market mutual funds 4. The Federal Reserve a. was created in b. serves as a lender of last resort. c. was created to facilitate the federal government s collection of taxes as well as its expenditures. d. All of the above are correct. 5. Which of the following is an asset of a bank and a liability for its customers? a. deposits of its customers and loans to it customers b. deposits of its customers but not loans to its customers c. loans of its customers but not the deposits of its customers d. neither the deposits of its customers nor the loans to its customers 6. If the reserve ratio is 5 percent, then $1,000 of additional reserves can create up to a. $5,500 of new money. b. $5,000 of new money. c. $4,000 of new money. 7. To increase the money supply, the Fed could a. sell government bonds. b. increase the discount rate. c. decrease the reserve requirement.
3 8. You put money in the bank. The increase in the dollar value of your savings a. and the change in the number of goods you can buy with your savings are both nominal variables. b. and the change in the number of goods you can buy with your savings are both real variables. c. is a nominal variable, but the change in the number of goods you can buy with your savings is a real variable. d. is a real variable, but the change in the number of goods you buy with your savings is a nominal variable. 9. The principle of monetary neutrality implies that an increase in the money supply will a. increase real GDP and the price level. b. increase real GDP, but not the price level. c. increase the price level, but not real GDP. d. increase neither the price level nor real GDP. 10. If M = 4,000, P = 1.5, and Y= 6,000, what is velocity? a b c If inflation is higher than what was expected, a. creditors receive a lower real interest rate than they had anticipated. b. creditors pay a lower real interest rate than they had anticipated. c. debtors receive a higher real interest rate than they had anticipated. d. debtors pay a higher real interest rate than they had anticipated. 12. Peru has exports of $31.5 million and imports of $30 million. Peru a. sells more overseas then it buys from overseas; it has a trade deficit. b. sells more overseas then it buys from overseas; it has a trade surplus. c. buys more from overseas then it sells overseas; it has a trade deficit. d. buys more from overseas then it sells overseas; it has a trade surplus. 13. Which of the following statements is correct for an open economy with a trade surplus? a. The trade surplus cannot last for very many years. b. The trade surplus must be offset by negative net capital outflow. c. The trade surplus implies that the country's national saving is greater than domestic investment. 14. Most of the change from 1980 to 1987 in U.S. net capital outflow as a percent of GDP was due to a(n) a. decrease in U.S. investment. b. decrease in U.S. national saving. c. increase in U.S. investment. d. increase in U.S. national saving.
4 15. Other things the same, the real exchange rate between American and Mexican goods would be lower if a. prices of Mexican goods were higher, or the number of pesos a dollar purchased was higher. b. prices of Mexican goods were higher, or the number of pesos a dollar purchased was lower. c. prices of Mexican goods were lower, or the number of pesos a dollar purchased was higher. d. prices of Mexican goods were lower, or the number of pesos a dollar purchased was lower. 16. Suppose the real exchange rate is 5/4 of a Canadian textbook per U.S. textbook, a U.S. textbook costs $150, and a Canadian one costs 120 Canadian dollars. To the nearest penny, what is the nominal exchange rate? a..64 Canadian dollars per U.S. dollar b. 1 Canadian dollar per U.S. dollar c Canadian dollars per U.S. dollar 2301 Midterm 3 Examples Answer Section MULTIPLE CHOICE 1. ANS: A PTS: 1 DIF: 1 REF: 29-1 NAT: Analytic LOC: The role of money TOP: Store of value 2. ANS: A PTS: 1 DIF: 1 REF: 29-1 NAT: Analytic LOC: The role of money TOP: Liquidity 3. ANS: B PTS: 1 DIF: 1 REF: 29-1 NAT: Analytic LOC: The role of money TOP: M2 4. ANS: B PTS: 1 DIF: 2 REF: 29-2 NAT: Analytic LOC: Monetary and fiscal policy TOP: Federal Reserve System 5. ANS: C PTS: 1 DIF: 1 REF: 29-3 NAT: Analytic LOC: Monetary and fiscal policy TOP: T-accounts 6. ANS: D PTS: 1 DIF: 1 REF: 29-3 NAT: Analytic LOC: Monetary and fiscal policy TOP: Money multiplier 7. ANS: C PTS: 1 DIF: 1 REF: 29-3 NAT: Analytic LOC: Monetary and fiscal policy TOP: Monetary policy tools 8. ANS: C PTS: 1 DIF: 1 REF: 30-1 NAT: Analytic LOC: The role of money TOP: Nominal interest rate Real interest rate
5 9. ANS: C PTS: 1 DIF: 1 REF: 30-1 NAT: Analytic LOC: The role of money TOP: Monetary neutrality 10. ANS: A PTS: 1 DIF: 1 REF: 30-1 NAT: Analytic LOC: The role of money TOP: Quantity equation 11. ANS: A PTS: 1 DIF: 2 REF: 30-2 NAT: Analytic LOC: Unemployment and inflation TOP: Wealth redistribution 12. ANS: B PTS: 1 DIF: 2 REF: 31-1 NAT: Analytic LOC: International trade and finance TOP: Net exports Trade balance 13. ANS: C PTS: 1 DIF: 2 REF: 31-1 NAT: Analytic LOC: International trade and finance TOP: Purchasing-power parity 14. ANS: B PTS: 1 DIF: 2 REF: 31-1 NAT: Analytic LOC: International trade and finance TOP: U.S. trade 15. ANS: B PTS: 1 DIF: 2 REF: 31-2 NAT: Analytic LOC: International trade and finance TOP: Real exchange rate 16. ANS: B PTS: 1 DIF: 3 REF: 31-2 NAT: Analytic LOC: International trade and finance TOP: Real exchange rate
ECON 2301 TEST 2 Study Guide. Maymester 2013
ECON 2301 TEST 2 Study Guide Maymester 2013 Instructions: 50 multiple-choice questions, each with 4 responses Students need to bring: (1) Sanddollar ID card; (2) scantron Form 882-E; (3) pencil; (4) calculator
More informationECON 2301 TEST 2 Study Guide. Spring 2014
ECON 2301 TEST 2 Study Guide Spring 2014 Instructions: 40 multiple-choice questions, each with 4 responses Students need to bring: (1) Sanddollar ID card; (2) scantron Form 882-E; (3) pencil; (4) calculator
More informationEastern Mediterranean University Faculty of Business and Economics Department of Economics Spring Semester
Eastern Mediterranean University Faculty of Business and Economics Department of Economics 2015-16 Spring Semester Duration: 90 minutes ECON102 - Introduction to Economics II Final Exam Type A 2 June 2016
More informationECON 3560/5040 Week 5
ECON 3560/5040 Week 5 1. What is Money? MONEY AND INFLATION - Definition: the stock of assets that can be readily used to make transaction - The functions of money Store of value: a way to transfer purchasing
More informationTest 4 Economics 224 Chappell November 17, 2010
Test 4 Economics 224 Chappell November 17, 2010 First Name Last Name Last 5 Digits of Student Number (Social Security Number): Instructions: Read These! _ You have 50 minutes to complete this test. Please
More informationSV151, Principles of Economics K. Christ 6 9 February 2012
SV151, Principles of Economics K. Christ 6 9 February 2012 SV151, Principles of Economics K. Christ 9 February 2012 Key terms / chapter 21: Medium of exchange Unit of account Store of value Liquidity Commodity
More informationBUSI 101 Capital Markets and Real Estate
BUSI 101 Capital Markets and Real Estate PURPOSE AND SCOPE The Capital Markets and Real Estate course (BUSI 101) is intended to acquaint the student with the basic principles of macroeconomics and to give
More informationChapter 7: Money and Inflation. Instructor: Dmytro Hryshko
Chapter 7: Money and Inflation Instructor: Dmytro Hryshko Money and Its Functions Money is an asset that can be used to support transactions. Functions of money: 1 A Store of value: use money to support
More information9. In the figure, at an interest rate of 4 percent, the
Econ 1204 001 Final Exam All questions are worth 10 points and must go on a blue scantron. They will not be scored on this exam or on another color scantron. 1. Trade between countries a. allows each country
More informationPractice Test Macroeconomics Spring 2008 Chapter 16 The Monetary System
Practice Test Macroeconomics Spring 2008 Chapter 16 The Monetary System MULTIPLE CHOICE 1. Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate? a. store
More informationMACROECONOMICS. N. Gregory Mankiw. Money and Inflation 8/15/2011. In this chapter, you will learn: The connection between money and prices
% change from 12 mos. earlier % change from 12 mos. earlier 2 0 1 0 U P D A T E S E V E N T H E D I T I O N 8/15/2011 MACROECONOMICS N. Gregory Mankiw PowerPoint Slides by Ron Cronovich C H A P T E R 4
More informationECON 2301 TEST 2 Study Guide. Fall 2012
ECON 2301 TEST 2 Study Guide Fall 2012 Instructions: 33 multiple-choice questions, each with 4 responses Students need to bring: (1) Sanddollar ID card; (2) scantron Form 882-E; (3) pencil; (4) calculator
More informationmacro macroeconomics Money and Inflation N. Gregory Mankiw CHAPTER FOUR PowerPoint Slides by Ron Cronovich fifth edition
macro CHAPTER FOUR Money and Inflation macroeconomics fifth edition N. Gregory Mankiw PowerPoint Slides by Ron Cronovich 2002 Worth Publishers, all rights reserved In this chapter you will learn The classical
More informationECON 3010 Intermediate Macroeconomics Solutions to Exam #2
ECON 3010 Intermediate Macroeconomics Solutions to Exam #2 Multiple Choice Questions. (25 points; 2.5 pts each) #1. To increase the money supply, the Federal Reserve: a. buys government bonds. b. sells
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 4. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 4 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationEcon 330 Final Exam Name ID Section Number
Econ 330 Final Exam Name ID Section Number MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A group of economists believe that the natural rate
More informationECON 1000 D. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 2.5 hours. Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationECON 1002 C. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 1.5 hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationMoney Growth and Inflation
Seventh Edition Brief Principles of Macroeconomics N. Gregory Mankiw CHAPTER 12 Money Growth and Inflation In this chapter, look for the answers to these questions How does the money supply affect inflation
More informationChapters_20_17_18_19_ProblemSession
Chapters_20_17_18_19_ProblemSession Multiple Choice Identify the choice that best completes the statement or answers the question. Table 28-1 Labor Data for Wrexington Year 2004 2005 2006 Adult population
More informationDEPARTMENT OF ECONOMICS, UNIVERSITY OF VICTORIA
DEPARTMENT OF ECONOMICS, UNIVERSITY OF VICTORIA Midterm Exam I (October 09, 2012) ECON204 (A01), Fall 2012 Name (Last, First): UVIC ID#: Signature: THIS EXAM HAS TOTAL 7 PAGES INCLUDING THE COVER PAGE
More informationChapter 4. U.S. inflation & its trend, The connection between money and prices
Chapter 4 The classical theory of inflation causes effects social costs Classical -- assumes prices are flexible & markets clear. Applies to the long run. slide 0 16 U.S. inflation & its trend, 1960-2001
More informationName: Days/Times Class Meets: Today s Date:
Name: _ Days/Times Class Meets: Today s Date: Macroeconomics, Spring 2008 Exam 3, TTh classes, various versions Read these Instructions carefully! You must follow them exactly! I) On your Scantron card
More informationECON 1002 E. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 2.5 hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationPart I (45 points; Mark your answers in a SCANTRON)
Final Examination Name: ECON 4020/ SPRING 2005 Instructor: Dr. M. Nirei 1:30 3:20 pm, April 28, 2005 Part I (45 points; Mark your answers in a SCANTRON) (1) The GDP deflator is equal to: a. the ratio of
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 1 Directions 1. You may not leave the room until you turn in your exam. 2. Fill in your scantron with your unique
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 3. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 3 Directions 1. You may not leave the room until you turn in your exam. 2. Fill in your scantron with your unique
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 4. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 4 Directions 1. You may not leave the room until you turn in your exam. 2. Fill in your scantron with your unique
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2014 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 2. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2014 Prof. Bill Even FORM 2 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationMacroeconomics Sixth Edition
N. Gregory Mankiw Principles of Macroeconomics Sixth Edition 7 Money Growth and Inflation Premium PowerPoint Slides by Ron Cronovich In this chapter, look for the answers to these questions: How does the
More informationMoney Growth and Inflation
Wojciech Gerson (83-90) Seventh Edition Principles of Macroeconomics N. Gregory Mankiw CHAPTER 7 Money Growth and Inflation The Money P the price level (e.g., the CPI or GDP deflator) P is the price of
More informationIntroduction. Money Growth and Inflation. In this chapter, look for the answers to these questions:
17 Money Growth and Inflation P R I N C I P L E S O F MACROECONOMICS FOURTH EDITION N. GREGORY MANKIW Premium PowerPoint Slides by Ron Cronovich 2008 update 2008 South-Western, a part of Cengage Learning,
More informationMacroeconomics. Money Growth and Inflation. Introduction. In this chapter, look for the answers to these questions: N.
C H A P T E R 7 Money Growth and Inflation P R I N C I P L E S O F Macroeconomics N. Gregory Mankiw Premium PowerPoint Slides by Ron Cronovich 200 South-Western, a part of Cengage Learning, all rights
More informationMACROECONOMICS. Inflation: Its Causes, Effects, and Social Costs. N. Gregory Mankiw. PowerPoint Slides by Ron Cronovich
5 : Its Causes, Effects, and Social Costs MACROECONOMICS N. Gregory Mankiw Modified for EC 204 by Bob Murphy PowerPoint Slides by Ron Cronovich 2013 Worth Publishers, all rights reserved IN THIS CHAPTER,
More informationECON 3010 Intermediate Macroeconomics. Chapter 5 Inflation: Its Causes, Effects, and Social Costs
ECON 3010 Intermediate Macroeconomics Chapter 5 Inflation: Its Causes, Effects, and Social Costs U.S. inflation 1960 2012 12% % change from 12 mos. earlier 10% 8% 6% 4% 2% % change in GDP deflator 0% 1960
More informationEco202 Review, April 2011, Prof. Bill Even. I. Introduction. A. The causes of the great recession B. Government responses to great recession
Eco202 Review, April 2011, Prof. Bill Even I. Introduction. A. The causes of the great recession B. Government responses to great recession II. III. Chapter 4: Measuring GDP and Economic Growth A. Definition
More informationThe Monetary System. Sherif Khalifa. Sherif Khalifa () The Monetary System 1 / 33
The Monetary System Sherif Khalifa Sherif Khalifa () The Monetary System 1 / 33 Money is the set of assets in an economy that people use to buy goods and services from other people. Money is the stock
More informationMidsummer Examinations 2013
Midsummer Examinations 2013 No. of Pages: 7 No. of Questions: 34 Subject ECONOMICS Title of Paper MACROECONOMICS Time Allowed Two Hours (2 Hours) Instructions to candidates This paper is in two sections.
More informationThe Monetary System. Sherif Khalifa. Sherif Khalifa () The Monetary System 1 / 32
The Monetary System Sherif Khalifa Sherif Khalifa () The Monetary System 1 / 32 Money is the set of assets in an economy that people use to buy goods and services. Money is the stock of assets that can
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 13:00 Section 03 TYPE C
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 13:00 Section 03 TYPE C Do not forget to write your full name,
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 13:00 Section 03 TYPE B
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 13:00 Section 03 TYPE B Do not forget to write your full name,
More informationa) Write down the output (RGDP) and price level of the Wonderland economy in 2010.
Sample Questions for the New Topics 1) In 2009 Wonderland economy was prospering at full employment with high level of consumer confidence. The economy s output level was $12 billion (measured as real
More informationBPE_MAC1 Macroeconomics 1 Spring Semester 2011
Masaryk University - Brno Department of Economics Faculty of Economics and Administration BPE_MAC1 Macroeconomics 1 Spring Semester 2011 Final Exam - 13.05.2011, 10:00-11:30 Test B Guidelines and Rules:
More informationEXAM 3: Version A. Econ 2203 Fall Instructions:
EXAM 3: Version A Econ 2203 Fall 2012 Instructions: 1. Write your name and the version (A or B) on your scantron. 2. Choose the best available answer and indicate your choice on your scantron sheet using
More informationMoney, prices and exchange rates in the long run
Money, prices and exchange rates in the long run Outline Part I: Money and inflation 1. Definition of money 2. Money supply and money demand 3. The neutrality of money 4. The dichotomy principle and its
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2011 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationIntermediate Macroeconomic Theory / Macroeconomic Analysis (ECON 3560/5040) Midterm Exam (Answers)
Intermediate Macroeconomic Theory / Macroeconomic Analysis (ECON 3560/5040) Midterm Exam (Answers) Part A (15 points) State whether you think each of the following questions is true (T), false (F), or
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE B
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE B Do not forget to write your full name,
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE C
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE C Do not forget to write your full name,
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE A
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE A Do not forget to write your full name,
More informationChapter 5 Inflation: Its Causes, Effects, and Social Costs
Chapter 5 Inflation: Its Causes, Effects, and Social Costs Modified by Yun Wang Eco 3203 Intermediate Macroeconomics Florida International University Summer 2017 2016 Worth Publishers, all rights reserved
More informationmacro macroeconomics Money and Inflation (chapter 4) N. Gregory Mankiw The classical theory of inflation causes effects social costs
macro Topic 7: (chapter 4) macroeconomics fifth edition N. Gregory Mankiw PowerPoint Slides by Ron Cronovich 2002 Worth Publishers, all rights reserved In this chapter you will learn The classical theory
More informationBPE_MAC1 Macroeconomics 1 Spring Semester 2011
Masaryk University - Brno Department of Economics Faculty of Economics and Administration BPE_MAC1 Macroeconomics 1 Spring Semester 2011 Midterm Exam - 08.04.2011, 10:30-11:30 Test B Guidelines and Rules:
More informationThe Macroeconomic Theory of the Open Economy: Chapter 13 Continued Net Capital Outflow: The Link between the two markets
The Macroeconomic Theory of the Open Economy: Chapter 13 Continued In an open economy: o National saving o Domestic investment o Net foreign investment (NCO) o The exchange rate o Net exports (NX) Are
More informationEco202 Review, April 2013, Prof. Bill Even. I. Chapter 4: Measuring GDP and Economic Growth
Eco202 Review, April 2013, Prof. Bill Even I. Chapter 4: Measuring GDP and Economic Growth A. Definition of GDP B. Measuring GDP 1. Expenditure side a) C+I+G+NX b) Definition of each component 2. Income
More informationUNIVERSITY OF TORONTO Faculty of Arts and Science. August Examination 2006 ECO 209Y
UNIVERSITY OF TORONTO Faculty of Arts and Science August Examination 2006 ECO 209Y Duration: 2 hours Examination Aids allowed: Non-programmable calculators only INSTRUCTIONS: Students are required to answer
More informationEconomics Principles of Macroeconomics Spring 2013
Economics 132.02 Principles of Macroeconomics Spring 2013 Professor Peter Ireland Final Exam This exam has nine questions on five pages; before you begin, please check to make sure your copy has all nine
More informationLESSON 5. Inflation: Causes and Measurement
LESSON 5 Inflation: Causes and Measurement Assigned Reading 1. Mankiw, N. Gregory, et al. 2011. Principles of Macroeconomics (5 th Canadian Edition). Toronto: Thomson Nelson. Chapter 6: Measuring the Cost
More informationECON 3010 Intermediate Macroeconomics Solutions to Exam #1
ECON 3010 Intermediate Macroeconomics Solutions to Exam #1 Multiple Choice Questions. (25 points; 2.5 pts each) #1. A severe recession is called a(n): a. deflation. b. market-clearing assumption. c. depression.
More informationAggregate Demand and Aggregate Supply
Chapter 31 Aggregate Demand and Aggregate Supply Test B 1. Recession refers principally to a. below average real GDP growth. b. negative real GDP growth. c. below average inflation. d. negative inflation.
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING Prof. Bill Even FORM 3. Directions
1 ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2013 Prof. Bill Even FORM 3 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationTHE FEDERAL RESERVE AND MONETARY POLICY Macroeconomics in Context (Goodwin, et al.)
Chapter 12 THE FEDERAL RESERVE AND MONETARY POLICY Macroeconomics in Context (Goodwin, et al.) Chapter Overview In this chapter, you will be introduced to a standard treatment of central banking and monetary
More informationECON 1000 B. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationHomework 4 of ETP Economics
Homework 4 of ETP Economics Winter Term 2014 Due: May 28 1.When the money market is drawn with the value of money on the vertical axis, if the price level is above the equilibrium level, there is an a.
More informationECONOMIC GROWTH 1. THE ACCUMULATION OF CAPITAL
ECON 3560/5040 ECONOMIC GROWTH - Understand what causes differences in income over time and across countries - Sources of economy s output: factors of production (K, L) and production technology differences
More informationThe classical theory of inflation. causes effects. Classical assumes prices are flexible & markets clear Applies to the long run
Money and inflation The classical theory of inflation causes effects Classical assumes prices are flexible & markets clear Applies to the long run 15% 12% % change in CPI from 12 months earlier 9% long-run
More informationChapter 31 Open Economy Macroeconomics Basic Concepts
Chapter 31 Open Economy Macroeconomics Basic Concepts 0 In this chapter, look for the answers to these questions: How are international flows of goods and assets related? What s the difference between
More informationECON Intermediate Macroeconomics (Professor Gordon) Second Midterm Examination: Fall 2014 Answer sheet
ECON 311 - Intermediate Macroeconomics (Professor Gordon) Second Midterm Examination: Fall 2014 Answer sheet YOUR NAME: Student ID: Circle the TA session you attend: Chris - 3PM Andreas - 3PM Hugh - 3PM
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM Summer Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM Summer 2014 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More information國立高雄第一科技大學管理學院暨財金學院 學年度第 2 學期經濟學期末會考題目卷 ( A )
國立高雄第一科技大學管理學院暨財金學院 1 0 5 學年度第 2 學期經濟學期末會考題目卷 ( A ) 1. Which of the following is a function of money? A. a unit of account B. a store of value C. medium of exchange D. All of the above are correct. 2.
More informationFINAL EXAM GROUP B. Instructions: EC and EC ID #: Spring May 26, 2015
EC102.03 and EC 102.05 NAME: ID #: Spring 2015 FINAL EXAM GROUP B May 26, 2015 Instructions: You have 100 minutes to complete the exam. There will be no extensions. The exam consists of 50 multiple choice
More informationMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Good Luck!
Econ 330 - Final Exam spring2009 Name Student ID Section Number MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Good Luck! 1) Everything else held
More information2010 Pearson Addison Wesley CHAPTER 1
CHAPTER 1 Money has taken many forms. What is money today? What happens when the bank lends the money we re deposited to someone else? How does the Fed influence the quantity of money? What happens when
More informationMoney, Banks and the Federal Reserve
Money, Banks and the Federal Reserve By The Great Gamecock 2009 Prentice Hall Business Publishing Essentials of Economics Hubbard/O Brien, 2e. 1 of 43 2009 Prentice Hall Business Publishing Essentials
More informationPractice Test Unit 4 DO NOT WRITE ON THIS TEST! Multiple Choice Identify the choice that best completes the statement or answers the question.
DO NOT WRITE ON THIS TEST! Practice Test Unit 4 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Consider an economy that only produces two goods: DVDs
More informationMoney, Banking and the Federal Reserve
Money, Banking and the Federal Reserve What Is Money? Money is any asset that can easily be used to purchase goods and services. Fiat money : Money, such as paper currency, that is authorized by a central
More information7) What is the money demand function when the utility of money for the representative household is M M
1) The savings curve is upward sloping, because (a) high interest rates increase the future returns that households obtain from their savings. (b) high interest rates increase the opportunity cost of consuming
More informationMoney Supply, Inflation, and Interest Rates
Money Supply, Inflation, and Interest Rates ECON 30020: Intermediate Macroeconomics Prof. Eric Sims University of Notre Dame Spring 2018 1 / 19 Readings GLS Ch. 18 2 / 19 Money, Inflation, and Interest
More informationInternational Finance
International Finance Chapter 21 CHAPTER CHECKLIST 1. Describe a country s balance of payments accounts and explain what determines the amount of international borrowing and lending. 2. Explain how the
More informationMacroeconomics, Spring 2011, Final Exam, several versions
Macroeconomics, Spring 2011, Final Exam, several versions Read these Instructions carefully! You must follow them exactly! I) Answer on your Scantron card, using a #2 pencil. Warning: SOME QUESTIONS MUST
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM. April 10, Prof. Bill Even FORM 1. Directions
Name ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM April 10, 2008 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth
More informationEcon 102/100. Second Midterm Exam
Econ 102, Section 100 Exam II, Form 1 NAME: (print) UM ID # Section # Econ 102/100 Second Midterm Exam March 15, 2007 Section Day Time Location GSI 101 Friday 2:30-4 142 Lorch JB 102 Friday 11:30-1 269
More informationChapter 29: The Monetary System Principles of Economics, 8 th Edition N. Gregory Mankiw Page 1
Page 1 1. Introduction a. This is a fairly descriptive chapter, but it contains some important material for understanding the world that we live in. b. Money is important for facilitating trade. c. Paper
More informationMidterm 2 - Economics 101 (Fall 2009) You will have 45 minutes to complete this exam. There are 5 pages and 63 points. Version A.
Name Student ID Section day and time Midterm 2 - Economics 101 (Fall 2009) You will have 45 minutes to complete this exam. There are 5 pages and 63 points. Version A. Multiple Choice: (16 points total,
More informationEcon 102 Final Exam Name ID Section Number
Econ 102 Final Exam Name ID Section Number 1. Over time, contractionary monetary policy nominal wages and causes the short-run aggregate supply curve to shift. A) raises; leftward B) lowers; leftward C)
More informationFinal Examination Semester 2 / Year 2012
Final Examination Semester 2 / Year 2012 COURSE : MACROECONOMICS COURSE CODE : ECON1013 TIME : 2 1/2 HOURS DEPARTMENT : MANAGEMENT LECTURER : CHING YANN PENG Student s ID : Batch No. : Notes to candidates:
More informationCommerce College Joint Economics Exam 102-2
Name: Class: Date: Commerce College Joint Economics Exam 102-2 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. 1. In a certain economy, when
More informationTHE MEANING OF MONEY. Chapter 29. The Monetary System
Chapter 29. The Monetary System THE MEANING OF MONEY Money is the set of assets in an economy that people regularly use to buy goods and services from other people. slide 0 slide 1 The Functions of Money
More informationHomework 2. (A) Multiple Choice Questions: (3 points per multiple choice problem) 25 questions
Homework 2 Spring 2011 ECO 410 Macroeconomic Theory Professor Li Gan Due 2/17/2010, in class (A) Multiple Choice Questions: (3 points per multiple choice problem) 25 questions 1. The quantity theory of
More informationChapter 2 Determination of Interest Rates
Chapter 2 Determination of Interest Rates MULTIPLE CHOICE 1. The level of installment debt as a percentage of disposable income is generally during recessionary periods. a. higher b. lower c. zero d. negative
More informationECON 1120: Macroeconomics
ECON 1120: Macroeconomics General Information: Term: 2018 Summer Session Instructor: Staff Language of Instruction: English Classroom: TBA Office hours: TBA Class Sessions Per Week: 5 Total Weeks: 5 Total
More informationECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2014 Prof. Bill Even FORM 3. Directions
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2014 Prof. Bill Even FORM 3 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationECON 012: Macroeconomics
General Information ECON 012: Macroeconomics Term: 2018 Summer Session Class Sessions Per Week: 5 Instructor: Staff Total Weeks: 6 Language of Instruction: English Total Class Sessions: 30 Classroom: TBA
More informationRate of Change Quiz. Name: Class: Date: Multiple Choice Identify the choice that best completes the statement or answers the question.
Name: Class: Date: ID: A Multiple Choice Identify the choice that best completes the statement or answers the question.. In a linear equation, the independent variable increases at a constant rate while
More informationEcon 219 Spring Lecture #11
Econ 219 Spring 2006 Lecture #11 Money What is money? Who controls it? Does it matter? When does it matter? 2 Money Functions of money: Medium of exchange Store of value Unit of account Measuring money:
More informationINTERNATIONAL FINANCE. Objectives. Financing International Trade. Financing International Trade. Financing International Trade CHAPTER
INTERNATIONAL 34 FINANCE CHAPTER Objectives After studying this chapter, you will able to Explain how international trade is financed Describe a country s balance of payments accounts Explain what determines
More informationMidsummer Examinations 2012
Midsummer Examinations 2012 No. of Pages: 6 No. of Questions: 34 Subject ECONOMICS Title of Paper MACROECONOMICS Time Allowed Two Hours (2 Hours) Instructions to candidates This paper is in two sections.
More informationQuestion 5 : Franco Modigliani's answer to Simon Kuznets's puzzle regarding long-term constancy of the average propensity to consume is that : the ave
DIVISION OF MANAGEMENT UNIVERSITY OF TORONTO AT SCARBOROUGH ECMCO6H3 L01 Topics in Macroeconomic Theory Winter 2002 April 30, 2002 FINAL EXAMINATION PART A: Answer the followinq 20 multiple choice questions.
More information