EXAM_I - University of Houston INTB 3353 Economics of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 University of Houston Fall 2007 INTB 3353: Economics of Globalization Professor Ruxandra Prodan Section 9813 Exam 1 1. In most countries, the Malthusian predictions have not been realized because a) the marginal product of labor is increasing b) population is declining c) technology is improving d) aggregate demand is declining e) of governmental regulations unforeseen in Malthus’ time c 2. The geography hypothesis is that most of the differences in income per capita across countries can be explained by: a) Geographic differences b) Climatic differences c) Ecological differences d) All of the above e) None of the above d 3. 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 4. 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 5. 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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
2 6. 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 7. Steady-state growth refers to: a) a long run situation in which variables such as capital per worker and real GDP per worker are growing at a constant rate b) a short run situation where variables such as capital per worker and real GDP are growing at a constant rate c) a long run situation in which the state government grows at a constant rate d) none of the above 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 d) Negatively to the current rate of unemployment c
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 8

EXAM_I - University of Houston INTB 3353 Economics of...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online