Exam 1 - University of Houston INTB 3353: Economics of...

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1 University of Houston Spring 2008 INTB 3353: Economics of Globalization Professor Ruxandra Prodan Section 25046 Exam 1 1. For the world as a whole over the last 200 years, the Malthusian predictions a) have increasingly become a reality b) have been avoided because world population has not grown much c) have been averted primarily by new discoveries of natural resources d) have been prevented by technological advances and capital investments e) have been averted because of greater conservation of resources d 2. In the last 40 years, the most severe recession in US was between: a) 1973-1979 b) 1981-1982 c) 1991-1992 d) 2000-2001 b 3. Which of the following is part of the production function? a) total factor productivity b) prices c) interest rates d) all of the above e) none of the above a 4. The amount of labor input used in the production process is best measured by: a) energy b) birth rate c) total hours worked d) the wage c 5. The diminishing marginal product of capital implies: a) that as nations become poorer, the marginal product of capital declines b) that an extra machine generates less extra output in a country with little capital than in a country with much capital c) that additions to the capital stock produce more incremental output in poor countries than in rich countries d) that wealthy economies will continue to grow richer while poor countries become poorer e) a failure on the part of a nation’s investors to replace depreciated capital equipment c
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2 6. Between1973-1992, labor input was the most important factor to explain growth in: a) Japan b) Germany c) United Kingdom d) United States d 7. Steady-state growth refers to: a) a long run situation in which real GDP per worker is growing at a constant rate b) a short run situation where real GDP per worker is growing at a constant rate c) a long run situation in which the state government grows at a constant rate a 8 . If a country enjoys a higher saving rate, this causes: a) no change in real GDP b) higher long run output c) lower long run output d) lower tax revenues b 9 According to the Solow growth model, rich countries: a) tend to grow faster than poor ones b) tend to grow slower than poor ones c) tend to grow about the same as poor ones d) none of the above b 10 . The relationship described by Phillips Curve is that inflation equals a) Expected inflation plus some coefficient times the interest rate gap b) Expected interest rate plus some coefficient times the output gap c) Expected inflation plus some coefficient times the output gap
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This note was uploaded on 02/23/2010 for the course BUSINESS intb 3353 taught by Professor Prodon during the Spring '10 term at University of Houston.

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Exam 1 - University of Houston INTB 3353: Economics of...

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