midterm_1_(ecn_1b_winter_2010)

midterm_1_(ecn_1b_winter_2010) - University of California...

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Page 1 of 8 University of California, Davis Department of Economics ECN 1B Midterm Examination 1 Winter 2010 B. Modjtahedi ______________________________________________________________________________ Question 1 Unemployed is defined as a person who: A. Does not have a job. B. Is not willing to work and does not have a job. C. Is not willing to work but has a job. D. Is willing to work but does not have a job. E. None of the above. Question 2 The dollar value of all the goods produced by the Chrysler Corporation in a year might well exceed the dollar value of all the goods produced by a small country such as Jordan or Nepal. Still, the analysis of Chrysler Corporation falls in the realm of microeconomics while we should use macroeconomic tools to study the economies of Jordan or Nepal. Why? Question 3 Which of the following is an example of indirect finance? Question 4 What are the three major macroeconomic issues?
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Page 2 of 8 Question 5 Year Price of Good 1 Quantity of Good 1 Price of Good 2 Quantity of Good 2 2006 $4 5 $8 10 2007 $4 10 $8 20 The table above shows the prices and quantities of two goods produced in a country in 2006 and 2007. These are the only goods produced in the country. What is the GDP deflator in 2007 (base year = 2006)? A. $40 B. $50 C. $110 D. $200 E. None of the above (Should be able to do this without any calculation) Question 6 Which of the following is NOT a stock variable?
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