



Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
Material Type: Exam; Professor: Meyer; Class: Macroeconomic Principles; Subject: Economics; University: George Mason University; Term: Fall 2006;
Typology: Exams
1 / 7
This page cannot be seen from the preview
Don't miss anything!
On special offer
dQG tr90r tr80r^ tr70a^ tr60tr
*Iti-
a_. PART 1 I i!- ol 13-@> ffe-+T <x de Se'f t;- 63-
(r) (F)
KEY 85f, trDr cEtr trDr trEtr 4a trEtr trDr cEtr EDT EEtr trDr cEl trDr trEl g (^) cf: trDr (^) fi. trDr trEf, trEl trEf, trEl trEl trEf, trEf, trEr trEl trEf, trEtr
.f,il
cr
'
r.t'
rifl'
1 2 3 4 5 6 7 8 9
10
3
,{:r s
r=
t-
r t- e-I 8- =- =- I- I a-
trDr trEr a[p cf: EDr EEr rfr cl: trDr trEr trDr trEl rf* cf: cD. cE j trDr trEr trDr trEl
=
cDr trEr trDr EEr trOr trEr trDtr trEr trDtr trEr trDr trEr trDtr EEr cDtr trEr trDtr trEtr EDtr trEtr
;fi <P
UO +{l tt? --.1 (^) o <9q -{^ z"'
,t
i ai E A E e6 fr^ l=l H :H E 19 -' D ;i=^ *^ lel ; (^) = IE @^ ;^ r im x l2lt!]l
. (^) l,l:l l l=t 1<i i (^) l.l eE fi
;9F Egx-:;
ai; gf a3'9^ iE* te>z o* x4 =q::^ < <oo<^ m
6
N{a 1:t ";f
I L
D
I $
) fr, N) m
. (^) F.-j! ::r
(r) co/o=
54 .A= 55 .A. 56 trA: 57 .A= 58 rA=
60 .A'
92 .A: 93 .A' 94 cA: 95 .Ar 96 .A= 97 .A- 98 .A' 99.A: 10b .A'
(F) c2= c3= cBr cQ:,cpr- trBr cCr trDtr trBr (^) trCr trDr trBr trCr trDl trBr trCr trDr trBr trCr trDr trBr trCr qDr trBr trCr cDr trBr trCr trDr cBr trCr cDr
KEY ,i, trEr trEr trEr trEr cEr trEl cEr
trE: cEtr
l-
t- rri r t- d- e-I 8- d- a- I_ I
E n-
trCr trDr cEr ECr EDtr trEr trCr trDr cEr trCr trDtr trEl trCtr trDtr trEl cCtr EDr rEr trCr trDr trEr trCr trDr cEr trCr trDtr cEl ECtr EDtr EEtr cCr cDr cEr cCr trDtr (^) EEr cCr cDr trEtr trCr trDr trEl trCr trDr trEr trCtr trDr trEf, trCr trDr trEl trCr cOr trEr cC: cDr cEr trCr cDr trEr trCr trDr trEr trCr trDr trEr trCr trDr cEr trCr trDr trEr trCr trDr trEl cC: EDr trEtr trCr trDr trEr trCr trDf, trEr .C: trDr trEr trCr trDr rEr cAr trBr^ cQr^ trDtr^ trEr trB: trCr tr8tr trCr cBr trCr trBr trCr EBr trCl tr8tr trCtr trBr cCl trBr trCr trBr trCr
trDf, trEl EDtr trEtr trDr trEl cDr trEtr trDr trEr trDtr trEl .b= EEr cDr trEr trDr cEr
2-
F" lfi
I
I
;, I
a t' I
c. d. e. ,/, {TheUnited States^ produces^ _ of what^ it^ consumes,^ and^ consumes'^ of.what^ it^ firoduces.
. (^) a. little,liftle . b.^ little,^ most^ '^ ,
ffil*nof the^ following^ is^ thebest definiticin^ of^ openness? ll (^) a. The average of imports expressed as a share of GDP.
a. GDP per working^ person. )- \ GDP^ per^ uhit^ of^ capital. (rct (^) ) GDP per person. W GDP per^ unit of^ unemployment.
'/. (^) fta;Dtotal output of the economy falls. (^) - \Y (^) totul output ofthe economyrises very slowly.' c. total unemployment falls.
. d.^ total international^ trade^ fails^ to^ rise.^ * r e. Both a and c
r ,/ ,//
I a. are employed in the goods-producing^ sectof. ,\are employed^ by^ government. f - c/are^ employed^ in^ the^ service-pioducing^ sector. q (^) are emfloyed in the agricultural sector. i
[Ihb average of imports^ and^ exports expressed^ as^ a share^ of^ GDP.^ , The average hade balance expressed as a^ share^ of^ GDP.^ "" 6p fne^ average^ ofexports^
lA
-rl // !/.Vnl" their^ respective subject matters^ differ'greatly,^ both microeconomists^ and^ rnacroeconomists I rely^ on the^ same^ basic tools; that is,^ both^ rely^ on . -a--government
contraits to promote research^ and^ pgblications. ( (^) U. (^) iEmand-and-supply analysis. qf (^) the ec<inomic theory cif John Maynard Keynes. d. consumer protectiori laws and^ antitrust legislation; q
t"
1t 't (^) ,/"
(^1) a. also called real GDP. b. a more accurat'e m6usute than real^ GDP. c. redl GDP adjusted for changes in the price level. @coP measuied^ in^ current^ pii.... w 'z? /--K A^ good^ prtiduced^ in^2000 and^ held in inventory^ until^ it^ is^ sold^ in 2001,would^ be^ included in which { (^) measure (^) of GDP?.. a. Half the value in 2000 and half thb value in 2001 60 kt2ool^ cDP^. .'
h 2000 GDP '^ :
I General M<itors Corporation (a^ U.S.-based firm) produces^ a^ Saab vehicle^ in^ Sweden, and sells^ it^ in' " (^) the United States. In which country's GDP is it included? a. Sweden and the United Sta'tes .F Th.^ United^ States^ because'it was sold there
/ l8'1fiie definition of^ Gross^ Domestic^ Product^ ii (^7) a. the total value of all sales in the economy (^) ",- b. the total value of production in the domestic economy plus^ the^ production of domestic
, (^) ' c. the total value of all sales cif final aihd intermediate goods (^) in the dome'Stic economy., ( (^) ,a;-]tre total,of the mbney values of all final goods and services produced in (^) the domestic Vecoiromy (^) within a specific time period.
yl6in""***", (^) differ in the amount of economic activity that is transacted in (^) organized markets, -./
-^4 some countries^ are^ more^ productive^ than^ others. !(persons live^ better^ in^ some^ countries than^ others.
Pcompaisons between countries^ are^ totally^ impossible.
,,d{;7"Pffijf3J.arstheU.S.economyhasprimarity.*p".i.n,"o
b. unemployment.
depresdion. I
Zf Oinngthe^ Great Depression of^ the t: (^) ,a\ 5 percent ,kfr lopercent *".
{E :e. 30 percent 50 percent
.t
':- -'."
lr
I f
: "}
. 301 If^ the^ labor'fo?ie grows^ faster than^ the^ number^ employed,^ the / a.^ unemployment^ rate^ will^ fall. p unemPloYment'rate will rise. . (^) Y Labor force rate will rise. d. employment rate will risd.
3'f Wrictr^ of^ the^ folloding^ groups woirld^ have the highest^ unemployment^ rates? f (^) a. married men' '^ I b. white workers, F\college graduates /d.'l""nas"ts "^ :
y' (^) Un (^) rnof the following scenarios best (^) illustrates the concept of cyclical une?nployment? E Grace loses her job^ because of new autorirated machinery. b. Sean quits^ his job^ to look for work that is more fun. (^) ' c. Ellen^ quits^ looking for^ wori<^ because^ she doesn't^ think^ she^ can^ find^ a suitable^ job. @yuaun v1 lor", heriib^ becausd^ of^ a^ recession
t{An unemployment^ rate that^ mbny^ economists believe represents^ full^ employment^ is 11.{ (^) a. o pitcent. y\0-4 percent. (.".,/4-6 percent. , (^) Y:' 6-8 percent. e. 8-10 percent (^) t
7{ rcp;""s^ rise, then persons^ living^ on^ fixed^ incomes^ will ^.
b. 'see the purchasingpower^ of their savings fall. c. need to sirend more to maint'ain their standard of living. ,6),en of^ the above^ are^ true.
3fi,^ '/'j lf ac[nl^inflation is less than the expdcted rate of inflation, then probably ' (^62) the (^) borrotver gains at the (^) expense of the lender. ' (^) b. neither thd (^) borrower nor the lender gains. ftlthe lender^ gaifrs at^ the^ expense^ of^ the^ borrower. V thepurchasing power^ of the borrower is increased.
,/ )il. Sharonbuys^ some^ cornmon stock^ in^1990 for^ $10,000 and sells^ it^ in^2000 for^ $15,000.^ During^ the
" she^ will ay rio taxes because'she eamed negative real capital gains. /ose (^) purchasing power'and have to pay (^) taxes anyway.
earn a real capital gain.of $15,000 minus 75 percent.