{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

# TEST 1C OCT 07 ANSWERS - MIDTERM EXAM 1 OCTOBER 2007 ECON...

This preview shows pages 1–3. Sign up to view the full content.

MIDTERM EXAM 1: OCTOBER, 2007 ECON 0110: MACROECONOMICS 1 PM CLASS DR. KENKEL THIS IS TEST 1C WITH ANSWERS 20 questions worth 12.5 points each. Total Points = 250 1. Assume the following data apply to a certain country: Year Consumer Nominal Price GDP Index (Trillions) 2003 118.9 10.1 2004 154.6 13.2 2005 180.5 15.5 During 2005, real GDP equals a. Less than 8.0 trillion *b. 8.0 to less than 8.7 trillion c. 8.7 to less than 9.9 trillion d. 9.9 to less than 11.8 trillion e. none of the above ANSWER: 100 X (15.5/180.5) = 8.59 2. Assume the following data apply to a certain country: Population 410.0 million Employed 163.6 million Unemployed 6.4 million Not in Labor Force 106.0 million The unemployment rate is 3. In the previous question, the labor force participation rate is: 4. If the real rate of interest is 4.32% and the inflation rate is 2.12%, the nominal rate of interest will be

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern