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Final%20Exam%20Macro%20Edison%20Students

# Final%20Exam%20Macro%20Edison%20Students - Final Exam Macro...

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Final Exam Macro Edison State College Student: ___________________________________________________________________________ 1. In the United States from 1929 to 1933, real GDP _____________, and the unemployment rate ________________. A. declined by 27 percent; rose to 25 percent. B. increased by 21 percent; fell to 2 percent. C. declined by 21 percent; rose to 27 percent. D. declined by 40 percent; rose to 50 percent. 2. In the aggregate expenditures model, it is assumed that investment: 3. Refer to the above data. At the \$370 billion level of DI the APS is approximately:

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4. Refer to the above diagram that applies to a private closed economy. If aggregate expenditures are C + I g 2 , the amount of saving at income level J is: 5. The equilibrium level of GDP in a private closed economy is where: A. MPC = APC. B. unemployment is about 3 percent of the labor force. C. consumption equals saving. D. aggregate expenditures equal GDP. 6. For a private closed economy, an unintended decline in inventories suggests that: 7. When investment remains the same at each level of GDP in a private closed economy, the slope of the aggregate expenditures schedule:
8. Refer to the above diagram for a private closed economy. Gross investment: 9. Refer to the above diagram for a private closed economy. At the \$400 level of GDP: A. aggregate expenditures exceed GDP with the result that GDP will rise. B. consumption is \$350 and planned investment is zero so that aggregate expenditures are \$350. C. consumption is \$300 and planned investment is \$50 so that aggregate expenditures are \$350. D. consumption is \$300 and actual investment is \$100 so that aggregate expenditures are \$400. 10. Refer to the above diagram for a private closed economy. At the \$300 level of GDP:

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