quiz 4 6 - Blackboard Learning System 12/10/08 5:25 PM Your...

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Unformatted text preview: Blackboard Learning System 12/10/08 5:25 PM Your location: Assessments › View All Submissions › View Attempt View Attempt 1 of 4 Title: Started: Submitted: Time spent: Lesson 4 Quiz (Required for course grade) October 21, 2008 2:06 PM October 21, 2008 2:12 PM 00:05:54 Total score adjusted by 0.0 Maximum possible score: 100 Total score: 20/100 = 20% Done 1. GDP includes: Student Response A. neither intermediate nor final goods. B. intermediate, but not final, goods. C. both 0% intermediate and final goods. D. final, but not intermediate, goods. Score: Comments: 2. Value Correct Answer Feedback 0/10 In 1933 net private domestic investment was a minus $6.0 billion. This means that: Student Response A. the production of 1933's GDP used up more http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 1 of 7 Value Correct Answer Feedback Blackboard Learning System 12/10/08 5:25 PM capital goods than were produced in that year. B. the economy was expanding in that year. C. the economy produced no capital goods at all in 1933. D. gross private domestic investment exceeded depreciation by $6.0 billion. Score: Comments: 3. In national income accounting, consumption expenditures include: Student Value Response A. consumer 0% durable goods and consumer nondurable goods, but not services. B. changes in business inventories. C. consumer durable goods, consumer http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 2 of 7 0% 0/10 Correct Answer Feedback Blackboard Learning System 12/10/08 5:25 PM nondurable goods, and services. D. purchases of both new and used consumer goods. Score: Comments: 4. Real GDP measures: Student Value Response A. base year output at current prices. B. current output at base year prices. C. current output at current prices. D. base year output at current exchange rates. Score: Comments: 5. If the unemployment rate is 9 percent and the natural rate of unemployment is 5 percent, then the: Student Response Value Correct Answer Feedback 0/10 0% Correct Answer Feedback 0/10 A. natural rate of 0% unemployment http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 3 of 7 Blackboard Learning System 12/10/08 5:25 PM will eventually increase. B. cyclical unemployment rate is 4 percent. C. frictional unemployment rate is 5 percent. D. cyclical unemployment rate and the frictional unemployment rate together are 5 percent. Score: Comments: 6. Assume that Hernandez is temporarily unemployed because he has voluntarily quit his job with company A and will begin a better job next week with company B. Hernandez will be considered as: Student Response Value Correct Answer Feedback 0/10 A. cyclically 0% unemployed. B. secularly unemployed. C. employed. D. frictionally unemployed. Score: Comments: 7. If actual GDP is less than potential GDP: Student Response A. the price level will rise. http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 4 of 7 0/10 Value Correct Answer Feedback Blackboard Learning System 12/10/08 5:25 PM B. investment spending will fall. C. potential GDP will fall. D. the actual unemployment rate will be higher than the natural unemployment rate. Score: Comments: 8. If the Consumer Price index rises from 300 to 333 in a particular year, the rate of inflation in that year is: Student Value Response A. 91 percent. B. 10 percent. C. 33 percent. D. 11 percent. Score: Comments: 9. The rate of inflation can be found by subtracting: Student Value Response A. last year's 0% price index from this year's price index. Correct Answer Feedback 100% 10/10 Correct Answer Feedback 0/10 0% http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 5 of 7 Blackboard Learning System 12/10/08 5:25 PM B. the real income from the nominal income. C. last year's price index from this year's price index and dividing the difference by last year's price index. D. this year's price index from last year's price index and dividing the difference by this year's price index. Score: Comments: 10. Cost-of-living adjustment clauses (COLAs): Student Value Response A. increase the gap between nominal and real income. B. invalidate the "rule http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 6 of 7 0/10 Correct Answer Feedback Blackboard Learning System 12/10/08 5:25 PM of 70." C. apply only to demandpull inflation. D. tie wage 100% increases to changes in the price level. Score: Comments: 10/10 Done http://webct.csmd.edu/webct/cobaltMainFrame.dowebct Page 7 of 7 ...
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