xm2a-w05 - Econ 102/Lecture 100 Exam II Form 1 March 17,...

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Econ 102/Lecture 100 Answers Exam II Form 1 March 17, 2005 Section Day Time Location GSI 101 F 2:30-4 205 DENN Jooyong 102 F 11:30-1 373 Lorch Jooyong 103 F 1-2:30 373 Lorch Sue 104 M 4-5:30 351 DENN Joanne 105 M 2:30-4 330 DENN Joanne 107 F 1-2:30 110 DENN Sue 108 M 8:30-10 373 Lorch Seb · Do NOT open this exam booklet until instructed to do so! · Please take a moment to complete the identification information on the scantron. Indicate your NAME, discussion SECTION number, FORM number, and UM ID number. THIS, and showing up in the correct exam room are WORTH TWO POINTS ON THE EXAM! · The exam has 100 points and is designed to take about 60 minutes to complete. However, you’ll have approximately 80 minutes. Check that you have all 12 pages of the exam . · Read the questions and these instructions carefully! · Use the space provided in this booklet and the back of the pages to work out the answers to the multiple choice problems. Use the space provided on the actual page for the short answer questions. · You can use only NON-graphing calculators. · For multiple choice questions, you get 3 points for a correct answer, 0 points for a blank, and 0 points for a wrong answer. There are NO penalties for guessing. · Sign the honor code below! Honor Code : I did not use any unauthorized aid on this exam. Name : (PRINT) _______________________________ UM ID # : _______________________________ Signature : _______________________________
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Econ 102, Winter 2005, Midterm 2 Form 1 1) Suppose that the following data describe the US economy (in trillion US$). GDP=10 Consumption = 7 Domestic Investment = 2 US Foreign Direct Investment Abroad = 1.0 Foreign Direct Investment in the US = 1.3 Net Taxes = 1.2 Government Budget Deficit=0.2 Which of the following is necessarily TRUE? A. The amount of foreign Investment in the US exceeds the amount of US investment abroad. B. The amount of domestic investment exceeds the amount of private saving. C. The amount of exports exceeds the amount of imports. D. The amount of net tax collected by the US government exceeds the spending of the US government. E. none of the above [Both A and B are correct.] 2) Which of the following is a correct description of Capital Flight? A. a large and sudden rise in the aircraft industry B. a large and sudden movement of the physical capital stock across the regions within a country C. a large and sudden reduction in the supply of physical capital goods D. a large and sudden reduction in the supply of assets located in a country E. a large and sudden reduction in the demand for assets located in a country 3) A Swedish firm opens a factory that produces Mankiw textbooks in Ypsilanti. This will A. Decrease Sweden’s NFI, but not effect US NFI B. Increase Sweden’s NFI, but not effect US NFI C. Increase Sweden’s NFI and decrease US NFI D. Decrease US NFI, but not effect Sweden’s NFI E. Increase US NFI, but not effect Sweden’s NFI 2
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4) The US government is considering a tax exemption on capital income to encourage
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xm2a-w05 - Econ 102/Lecture 100 Exam II Form 1 March 17,...

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