Economics Midterm 101(a) (Fall 2005)
You will have 75 minutes to complete this exam. There are 66 points. Multiple Choice: (20 points total, 2 points each) Choose the best answer. Write on your scantron MC#1) Which of the following would be part of GDP and investment in the U.S. national accounts: IBM builds a computer in the U.S. which it a) sells to you for personal use b) sells to a shoe company in China c) sells to a textbook publisher in the U.S. d) none of the above MC#2) The GDP deflator a) differs from the consumer price index in that it has weights that change over time b) differs from the consumer price index in that it only considers final goods and services c) tends to overstate the level of inflation because of substitution bias. d) all of the abov...
mid10105a1