Chap036
83 Pages

Chap036

Course Number: ECON 301, Spring 2013

College/University: DeVry Fremont

Word Count: 18630

Rating:

Document Preview

Chapter 36 - Current Issues in Macro Theory and Policy Chapter 36 Current Issues in Macro Theory and Policy Multiple Choice Questions 1. The equation underlying the mainstream view of macroeconomics is: A. MV = PQ. B. Ca + Ig + Xn + G = GDP. C. S = a - bY. D. GDP = P x Q. 2. The mainstream view is that macro instability is caused by: A. erratic growth of the nation's money supply. B. government interference in...

Unformatted Document Excerpt
Coursehero >> California >> DeVry Fremont >> ECON 301

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Chapter 36 - Current Issues in Macro Theory and Policy Chapter 36 Current Issues in Macro Theory and Policy Multiple Choice Questions 1. The equation underlying the mainstream view of macroeconomics is: A. MV = PQ . B. C a + I g + X n + G = GDP. C. S = a- b Y. D. GDP = P x Q . 2. The mainstream view is that macro instability is caused by: A. erratic growth of the nation's money supply. B. government interference in the economy. C. significant changes in investment spending. D. consumption "booms" and "busts." 3. According to mainstream macroeconomists, U.S. macro instability has resulted from: A. investment "booms" and "busts" and, occasionally, adverse aggregate supply shocks. B. adherence by the Fed to a monetary rule. C. government's attempts to balance its budget. D. wide fluctuations in net exports. 4. The mainstream view of macro instability is that: A. changes in the money supply directly cause changes in aggregate demand and thus cause changes in real GDP. B. changes in investment shift the aggregate demand curve and thus cause changes in real GDP. C. bursts of innovation put the economy on an unsustainable growth path, eventually producing recession. D. changes in technology and resource availability are the two main sources of fluctuations of real GDP. 36-1 Chapter 36 - Current Issues in Macro Theory and Policy 5. Economist Milton Friedman is most closely associated with: A. Keynesian economics. B. the rational expectations theory. C. supply-side economics. D. monetarism. 6. Monetarists believe that: A. prices and wages are inflexible or sticky. B. both product and resource markets are monopolistic. C. velocity is relatively stable. D. the economy is more stable when active fiscal and monetary policy are used. 7. According to monetarists: A. changes in the money supply are the primary cause of changes in the price level. B. an expansionary fiscal policy will lower interest rates and overstimulate the economy. C. changes in the velocity of money are more important than changes in the money supply in causing the level of economic activity to change. D. the supply of money changes in response to changes in the levels of real output and prices. 8. The basic equation of monetarism is: A. MV = PQ . B. S a + T + M = I g + G + X n . C. V = M /PQ. D. C a + I g + X n + G = GDP. 9. The equation of exchange indicates that: A. MV = PQ . B. other things equal, an increase in the demand for money will increase P and/or Q . C. the velocity and the supply of money vary directly with one another. D. MP = VQ . 36-2 Chapter 36 - Current Issues in Macro Theory and Policy 10. If M is $400, P is $4, and Q is 300, then V must be: A. 1.33. B. 3. C. 5.33. D. 100. 11. In the equation of exchange, the level of aggregate expenditures is indicated by: A. MV .

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

UCSD - ECON - 1
rice.AACSB: Reflective Thinking Skills Bloom's: Application Frank - Chapter 003 #50 Learning Objective: 3-3 Section: Market Equilibrium16.Efficiency occurs when A. B. C. D. the government does not interfere with market prices. the individually r
UT Dallas - RHET - 1302
DeVry Fremont - ECON - 301
Chapter 37 - International TradeChapter 37International TradeMultiple Choice Questions1. United States exports of goods and services (on a national income account basis) are about:A. 20 percent of U.S. GDP.B. 4 percent of U.S. GDP.C. 28 percent of
DeVry Fremont - ECON - 301
Chapter 38 - The Balance of Payments, Exchange Rates, and Trade DeficitsChapter 38The Balance of Payments, Exchange Rates, and Trade DeficitsMultiple Choice Questions1. International transactions fall into what two broad categories?A. Manufacturing t
DeVry Fremont - ECON - 301
Chapter 39W - The Economics of Developing CountriesChapter 39WThe Economics of Developing CountriesMultiple Choice Questions1. According to the United Nations, approximately what percentage of the world's income isreceived by the richest one-fifth of
DeVry Fremont - ACCT - 553
381Chapter 1Introduction to Federal Taxation andUnderstanding the Federal Tax LawTRUE-FALSE QUESTIONSCHAPTER 11.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.25.26.27.The majority of dollars collected by the
DeVry Fremont - ACCT - 553
389Chapter 2Tax Research, Practice, and ProcedureTRUE-FALSE QUESTIONSCHAPTER 2*Questions 2144 have been adapted from the IRS Examinations.1. Committee reports of the House Ways and Means Committee, the Senate Finance Committee, and theconference com
DeVry Fremont - ACCT - 553
411Chapter 3Individual TaxationAn OverviewTRUE-FALSE QUESTIONSCHAPTER 31.2.Taxpayers are allowed to take the larger of their itemized deductions or the standard deduction.If no one person contributes more than half the support of a dependent, the e
DeVry Fremont - ACCT - 553
423Chapter 4Gross IncomeTRUE-FALSE QUESTIONSCHAPTER 41.2.3.4.5.6.7.8.9.10.11.12.13.Dr. Yomo, a cash basis taxpayer, received a check for $250 after banking hours on December 30, 2010,from a patient. Since Dr. Yomo could not deposit the c
DeVry Fremont - ACCT - 553
443Chapter 5Gross IncomeExclusionsTRUE-FALSE QUESTIONSCHAPTER 5*The True-False questions have been adapted from the IRS Examinations.1. Interest on insurance dividends left on deposit with an insurance company and withdrawable upon demandis taxable
DeVry Fremont - ACCT - 553
459Chapter 6Deductions: General Concepts andTrade or Business DeductionsTRUE-FALSE QUESTIONSCHAPTER 61.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.An ordinary expenditure is one which is commonly incurred by o
DeVry Fremont - ACCT - 553
485Chapter 7Deductions: Business/Investment Lossesand Passive Activity LossesTRUE-FALSE QUESTIONSCHAPTER 71.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.Practically all tax shelters were formed as limited partnerships.Portfolio i
DeVry Fremont - ACCT - 553
501Chapter 8Deductions: Itemized DeductionsTRUE-FALSE QUESTIONSCHAPTER 81.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.Itemized deductions only reduce taxable income if the taxpayers itemized deductions exceed the stand
DeVry Fremont - ACCT - 553
519Chapter 9Tax Credits, Prepayments, and Special MethodsTRUE-FALSE QUESTIONSCHAPTER 91.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.A tax credit produces a tax benet only to the extent of the effective tax rate in the
DeVry Fremont - ACCT - 553
537Chapter 10Property Transactions: Determination of Basis andGains and LossesTRUE-FALSE QUESTIONSCHAPTER 10*Some of the true-false questions have been adapted from the IRS Examinations.1. Terry Trumbull purchased a tract of land. In order to have c
DeVry Fremont - ACCT - 553
559Chapter 11Property Transactions: Nonrecognition ofGains and LossesTRUE-FALSE QUESTIONSCHAPTER 11*Some of the true-false questions have been adapted from the IRS Examinations.1. Alfred Ahern sold a truck with an adjusted basis of $6,000 for $1,500
DeVry Fremont - ACCT - 553
585Chapter 12Property Transactions: Treatment of Capitaland Section 1231 AssetsTRUE-FALSE QUESTIONSCHAPTER 12*Some of the true-false questions have been adapted from the IRS Examinations.1. For purposes of determining the holding period for property
DeVry Fremont - ACCT - 553
609Chapter 13Tax AccountingTRUE-FALSE QUESTIONSCHAPTER 131.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.A partnership may adopt any tax year without IRS permission.A corporation ling its rst return must annualize its income if the tax
DeVry Fremont - ACCT - 553
633Chapter 14Deferred Compensation and Education Savings PlansTRUE-FALSE QUESTIONSCHAPTER 141.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.An S corporation is permitted to adopt a Keogh plan or a SEP IRA for its emp
DeVry Fremont - ACCT - 553
647Chapter 15Tax Planning for IndividualsTRUE-FALSE QUESTIONSCHAPTER 151.2.3.4.5.6.7.8.9.10.11.12.13.14.15.The 50 percent limitation on business meals and entertainment is applied before the two percent of adjustedgross income oor for
DeVry Fremont - ACCT - 553
659Chapter 16Partnerships, Corporations, and S CorporationsTRUE-FALSE QUESTIONSCHAPTER 161.2.3.4.5.6.7.8.9.10.11.12.13.In general, a partnership must have the same tax year as that of its partners holding greater than a 50percent interes
DeVry Fremont - ACCT - 553
693Chapter 17Federal Estate Tax, Federal Gift Tax, andGeneration-Skipping Transfer TaxTRUE-FALSE QUESTIONSCHAPTER 171.2.Gift taxes paid on post-1976 gifts are generally allowed as a credit against the tentative estate tax.For 2010 the rst $3,500,0
DeVry Fremont - ACCT - 553
711Chapter 18Income Taxation of Trusts and EstatesTRUE-FALSE QUESTIONSCHAPTER 181.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.25.The decedents nal income tax return is due four months after the date of death.
DeVry Fremont - ACCT - 304
Chapter 01 - Environment and Theoretical Structure of Financial AccountingCHAPTER 1ENVIRONMENT AND THEORETICAL STRUCTURE OF FINANCIAL ACCOUNTINGOverviewThe primary function of financial accounting is to provide useful financial information to users ex
DeVry Fremont - ACCT - 304
Chapter 02 - Review of the Accounting ProcessCHAPTER 2REVIEW OF THE ACCOUNTING PROCESSOverviewChapter 1 explained that the primary means of conveying financial information to investors, creditors, and other external users is through financial statemen
DeVry Fremont - ACCT - 304
Chapter 03 - The Balance Sheet and Financial DisclosuresCHAPTER 3THE BALANCE SHEET AND FINANCIAL DISCLOSURESOverviewChapter 1 stressed the importance of the financial statements in helping investors and creditorspredict future cash flows. The balance
DeVry Fremont - ACCT - 304
Chapter 04 - The Income Statement and Statement of Cash FlowsCHAPTER 4THE INCOME STATEMENT AND STATEMENT OF CASH FLOWSOverviewThe purpose of the income statement is to summarize the profit-generating activities thatoccurred during a particular report
DeVry Fremont - ACCT - 304
Chapter 05 - Income Measurement and Profitability AnalysisCHAPTER 5INCOME MEASUREMENT AND PROFITABILITY ANALYSISOverviewThe timing of revenue recognition is critical to income measurement. Revenue affects income,and, under the matching principle, exp
DeVry Fremont - ACCT - 304
Chapter 06 - Time Value of Money ConceptsCHAPTER 6TIME VALUE OF MONEY CONCEPTSOverviewTime value of money concepts, specifically future value and present value, are essential in a variety of accounting situations. These concepts and the related comput
DeVry Fremont - ACCT - 304
Chapter 07 - Cash and ReceivablesCHAPTER 7CASH AND RECEIVABLESOverviewWe begin our study of assets by looking at cash and receivables-the two assets typically listed first in a balance sheet. Internal control and classification on the balance sheet ar
DeVry Fremont - ACCT - 304
Chapter 08 - Inventories: MeasurementCHAPTER 8INVENTORIES: MEASUREMENTOverviewThe next two chapters continue our study of assets by investigating the measurement and reporting issues involving inventories and the related expense-cost of goods sold. In
DeVry Fremont - ACCT - 304
Chapter 09 - Inventories: Additional IssuesCHAPTER 9INVENTORIES: ADDITIONAL ISSUESOverviewWe covered most of the principal measurement and reporting issues involving the assetinventory and the corresponding expense cost of goods sold in the previous
DeVry Fremont - ACCT - 304
Chapter 10 - Property, Plant, and Equipment and Intangible Assets: Acquisition and DispositionCHAPTER 10PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS: ACQUISITION ANDDISPOSITIONOverviewThis chapter and the one that follows address the measurem
DeVry Fremont - ACCT - 304
Chapter 11 - Property, Plant, and Equipment and Intangible Assets: Utilization and ImpairmentCHAPTER 11PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS: UTILIZATION ANDIMPAIRMENTOverviewThis chapter completes our discussion of accounting for prop
DeVry Fremont - ACCT - 304
Chapter 12 - InvestmentsCHAPTER 12INVESTMENTSOverviewIn this chapter we cover various approaches used to account for investments that companiesmake in the debt and equity of other companies. An investing company has the option to account forthese in
DeVry Fremont - ACCT - 304
Chapter 13 - Current Liabilities and ContingenciesCHAPTER 13CURRENT LIABILITIES AND CONTINGENCIESOverviewWith the discussion of investments in the previous chapter we concluded our six-chapter coverageof assets that began in Chapter 7 with cash and r
DeVry Fremont - ACCT - 304
Chapter 14 - Bonds and Long-Term NotesCHAPTER 14BONDS AND LONG-TERM NOTESOverviewThis chapter continues the presentation of liabilities. Specifically, the discussion focuses on theaccounting treatment of long-term liabilities. Long-term notes and bon
DeVry Fremont - ACCT - 304
Chapter 15 - LeasesCHAPTER 15LEASESOverviewIn the previous chapter, we saw how companies account for their long-term debt. The focus ofthat discussion was bonds and notes. In this chapter we continue our discussion of debt, but we nowturn our attent
DeVry Fremont - ACCT - 304
Chapter 16 - Accounting for Income TaxesCHAPTER 16ACCOUNTING FOR INCOME TAXESOverviewIn this chapter we explore the financial accounting and reporting standards for the effects ofincome taxes. The discussion defines and illustrates temporary differen
DeVry Fremont - ACCT - 304
Chapter 17 - Pensions and Other Postretirement Benefit PlansCHAPTER 17PENSIONS AND OTHER POSTRETIREMENT BENEFIT PLANSOverviewEmployee compensation comes in many forms. Salaries and wages, of course, provide directand current payment for services prov
DeVry Fremont - ACCT - 304
Chapter 18 - Shareholders EquityCHAPTER 18SHAREHOLDERS EQUITYOverviewWe turn our attention in this chapter from liabilities, which represent the creditors interests inthe assets of a corporation, to the shareholders residual interest in those assets.
DeVry Fremont - ACCT - 304
Chapter 19 - Share-Based Compensation and Earnings Per ShareCHAPTER 19SHARE-BASED COMPENSATION AND EARNINGS PER SHAREOverviewWeve discussed a variety of employee compensation plans in prior chapters, including pensionand other postretirement benefits
DeVry Fremont - ACCT - 304
Chapter 20 - Accounting Changes and ErrorsCHAPTER 20ACCOUNTING CHANGES AND ERRORSOverviewChapter 4 provided an overview of accounting changes and error correction. Later, wediscussed changes encountered in connection with specific assets and liabilit
DeVry Fremont - ACCT - 304
Chapter 21 - Statement of Cash Flows RevisitedCHAPTER 21STATEMENT OF CASH FLOWS REVISITEDOverviewThe objective of financial reporting is to provide investors and creditors with usefulinformation, primarily in the form of financial statements. The bal
Ithaca College - PHYSICS - 218
Phys 2213, Fall 2012: FinalMaterial covered:The final is cumulative and covers all material throughout the course - all lectures,all problem sets, all labs, and all handouts (including Dielectrics.pdf andElectricEnergyDensity.pdf). Approximately 1/3 o
Ithaca College - PHYSICS - 218
Prelim Topics UPDATED (Fall 2012)1. Static Electricity (as in lab)a. Charging of objects, polarization, motion of charges from one object toanother, etc.2. Coulomb's Lawa. Electrostatic force and applications (trajectory of charged particles)b. Elec
Ithaca College - PHYSICS - 218
Phys 2213, Fall 2012: Prelim 2Material covered:Prelim 2 covers all topics which did not appear on Prelim 1, up through the part ofLecture 18 (October 25) covering computing forces from magnetic fields (but notincluding how to compute magnetic fields).
Ithaca College - PHYSICS - 218
Name: _(c) What is the magnitude of the magnetic field in theregion r < a ?baiBr < a = _ _ _ .(d) What is the magnitude of the magnetic field in the region a < r < b ?Ba < r < b = _ _ _ .(e) What is the magnitude of the magnetic field in the regi
Ithaca College - PHYSICS - 218
P a g e 1 o f 20PHYS 2213 Prelim 1Physics 2213 Prelim I Fall 2011NAME:S E CT I O N:Instructions Closed book; no notes. You may use a non-graphing calculator. The formula sheet is distributed separately. Place all final answers in the boxed provide
Ithaca College - PHYSICS - 218
CORNELL UNIVERSITYDepartment of PhysicsPhysics 2213November 8, 2012Prelim II, Fall 2011NAME:SECTION: To receive credit, you must place your answers in the boxes. Closed book; no notes; calculators allowed. Important note: Successive parts within
Ithaca College - PHYSICS - 218
)( .e.yName:(c) What is the magnitude of the magnetic field in theregion a?IGoc-t>r.I",ferc./8cokWiS'(:1r~a.=-,.~Rs9J!=Js0r"<: ~:..d1 =.)-.cfw_-ie-"f 8 -J.t ffh f,. .J.,<J $/,4.ar6~",Jr<a2"TT'r~ (ZTT'"r)=r<4~ (Zrrr) =.J.A~OR.r
Ithaca College - PHYSICS - 218
Ithaca College - PHYSICS - 218
Ithaca College - PHYSICS - 218
Electric Fields In and Near Conductors inElectrostatic Equilibrium An electric conductor has some mobile charges that are free tomove in the conductor and along its surfaces. Electrostatic equilibrium means that charges are in staticequilibrium. This
Ithaca College - PHYSICS - 218
Electric Field Line Model1. Electric field lines point in the direction of the (total) electric fieldrE at each point in space.2. Electric field lines start on + charges and end on charges.rE= ?3. Electric field lines cannot cross.4. The number of
Ithaca College - PHYSICS - 218
PHYS 2213Problem Set 1 - SolutionsAugust 30, 20121 Getting a feel for magnitudes and units1.1 Coulombs and amperes(a) How many fundamental units of charge make up 1 Coulomb?We are told that one ampere of current would deposit 1.118 mg of silver ions
Ithaca College - PHYSICS - 218
Ithaca College - PHYSICS - 218
Cornell UniversityDepartment of PhysicsPhysics 2213: Electromagnetism, Fall 2012Problem Set # 2(Due Friday, September 7 at 5:00pm sharp.)Agenda and readingsReadings marked YF refer to sections from the text book, University Physics, 13th edition, vo
Ithaca College - PHYSICS - 218
Ithaca College - PHYSICS - 218
Cornell UniversityDepartment of PhysicsPhysics 2213: Electromagnetism, Fall 2012Problem Set # 3(Due Friday, September 14 at 5:00pm sharp.)Agenda and readingsReadings marked YF refer to sections from the text book, University Physics, 13th edition, v
Ithaca College - PHYSICS - 218
P a g e 1 o f 20PHYS 2213 Prelim 1Physics 2213 Prelim I Fall 2011NAME:S E CT I O N:Instructions Closed book; no notes. You may use a non-graphing calculator. The formula sheet is distributed separately. Place all final answers in the boxed provide