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A practice midterm exam for the principles of macroeconomics course at drexel university, taught by professor marco airaudo during the winter 2012 semester. The exam consists of multiple choice and short answer questions covering various topics in macroeconomics, such as net exports, consumption function, real and nominal gdp, and the consumer price index.
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Drexel University Econ 202: Principle of Macroeconomics Winter 2012 - Practice Midterm
Professor: Marco Airaudo Name and Section Instructions: you have 1h and 30í to complete the exam. For the multiple choice part, you do not have to motivate your answer (just pick what you think is the correct one). For the short answers part, you have to write your answers within the blank space provided at the end of each question. Please label your answers correctly. In order to get full (or even partial) credit you have to show your work. MULTIPLE CHOICE SECTION (30 Points Total, 3 Points each)
(d) $300 billion (e) none of the above
(a) an increase in the U.S. net exports (NX) with Europe (b) a decrease in the U.S. net exports (NX) with Europe (c) higher investments (I) in the U.S. (d) more government spending (G) in the U.S. SHORT ANSWER SECTION (70 points total) Please provide very short answers to the following questions
2009:
2010:
(c) A higher ináation rate in the US with respect to what seen in Europe
(a) What would be the change in consumption if disposable income went up by $200 billion?
(b) What would be the change in personal savings?
(c) How would the nationís consumption function change if the MPC increased to 0.8? Hint: would it become áatter or steeper?