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macroexam - Name Introduction to Economics Econ 1000-100...

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Name: . Introduction to Economics Econ 1000-100 Fall 2008 Midterm 2 Macroeconomics Version A TA Section Time Day Location Liu, Yibei 111 8:00-8:50 T MCOL E186 Cho 112 1:00-1:50 T E1B75 Cho 113 1:00-1:50 R MUEN E126 Cho 114 3:30-4:20 R EDUC 143 Hiller 115 10:00-10:50 M HLMS 220 Hiller 116 11:00-11:50 M HLMS 196 Liu, Yibei 117 3:00-3:50 M HLMS 191 Liu, Yibei 118 3:00-3:50 W CLRE 301 Liu, Yibei 119 4:00-4:50 W MCOL E186 Hiller 120 5:00-5:50 W GUGG 206 Hiller 121 12:00-12:50 F HLMS 196 1. On the scantron: a. Bubble in your full name. b. In the section marked “1234” put the number of your recitation section. c. In the section marked “Identification Number” enter your student ID. If you do not know your student id number, put in any combination of numbers. d. In question number 60, bubble in “A” since you are taking version A of the exam. 2. There are 4 True/False questions (4 pts each) and 28 Multiple Choice questions (3 pts each). No extra credit. 3. Do not cheat! If we catch you cheating you will be given an automatic zero on this exam and I will report your violation of the honor code to the honor code council. 4. GOOD LUCK!!
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TRUE/FALSE QUESTIONS (4 points each) 1. Banks could not change the size of the money supply if they were required to hold all deposits in reserve. 2. If a country sells more goods and services abroad than it purchases abroad, it has positive net exports and a trade surplus. 3. Monetary and fiscal policy impact the aggregate supply curve. 4. Suppose a small closed economy has GDP of $5 billion, Consumption of $3 billion, and Government expenditures of $1 billion. Then domestic investment and national saving are both $1 billion. 2
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MULTIPLE CHOICE QUESTIONS (3 points each) 5. GDP is defined as a. the market value of all goods and services produced within a country in a given period of time. b. the market value of all goods and services produced by the citizens of a country, regardless of where they are living in a given period of time. c. the market value of all final goods and services produced within a country in a given period of time. d. the market value of all final goods and services produced by the citizens of a country, regardless of where they are living, in a given period of time.
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