econ2400AF_Test2_2009

econ2400AF_Test2_2009 - York University Department of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
York University Department of Economics Faculty of Liberal Arts and Professional Studies AP / ECON 2400 A Intermediate Macroeconomic Theory I Professor Tasso Adamopoulos Midterm Test 2: Thursday, November 5, 2009 Duration: 70 minutes Aids: You may use a calculator. Please answer all questions in the provided booklet. Good luck! Section I: Multiple Choice Questions (total marks 32) Each correct multiple choice answer is worth 4 marks. Indicate the correct answer on your booklet. 1. Purchasing-power-parity calculations attempt to translate one currency into another at a rate A) that preserves average purchasing power. B) that increases average purchasing power. C) that decreases average purchasing power. D) that preserves average exchange rates. 2. Patents give a firm that has discovered something new A) the right to exclude anyone else from ever using the discovery. B) the right to exclude anyone else from using the discovery for a period of years. C) the right to never share the discovery with others. D) the right to charge others exorbitant prices for the use of the discovery. 3. Consider a once and for all decrease in the level of a country’s capital stock. If the country was at its steady state level of income before the increase, and the neoclassical growth model is a good description of reality then in the long run, the country will have, A) a higher output per worker than before. B) a lower output per worker than before. C) the same output per worker as before.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/17/2010 for the course LAPS ECON2350 a taught by Professor Barrysmithandtasso during the Spring '10 term at York University.

Page1 / 4

econ2400AF_Test2_2009 - York University Department of...

This preview shows document pages 1 - 2. Sign up to view the full document.

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