Unit 8 Final Exam - Final Exam Questions Question 1 A...

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Macroeconomics for Today
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Chapter 5 / Exercise 12
Macroeconomics for Today
Tucker
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Final Exam Questions Question 1.A statement that is often used to describe demand-pull inflation is:A."A rising tide lifts all boats"B."Money is easily earned, but not easily saved"C."Too much money chasing too few goods"D."There is no such thing as a free lunch"
Question 2Changes in government spending and tax revenues for the purpose of achieving a full-employment and noninflationary level of domestic output is called:
Question 3The following are national income account data for a hypothetical economy in billions of dollars:gross private domestic investment ($320); imports ($35); exports ($22); personal consumption expenditures ($2,460); and, government purchases ($470). What is GDP in this economy?
Question 4A checkable deposit at a commercial bank is a(n):
Question 5Opportunity cost is best defined as:A.marginal cost minus marginal benefit.B.the value of the best foregone alternative.C.the time spent on an economic activity.D.the money cost of an economic decision
Question 6 Cost-push inflation arises from:
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Macroeconomics for Today
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Chapter 5 / Exercise 12
Macroeconomics for Today
Tucker
Expert Verified
Question 7Economists believe that use of the term auction facility:
Question 8The transactions demand for money will shift to the:
Question 9Official unemployment rate statistics may:A.Overstate the amount of unemployment by including part-time workers in the calculationsB.Understate the amount of unemployment by excluding part-time workers from the calculationsC.Overstate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employmentD.Understate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment

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