311M1Fall04 - Intermediate Macroeconomics 311 (Professor...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Intermediate Macroeconomics 311 (Professor Gordon) First Mid-Term Examination Fall, 2004 SOLUTION YOUR NAME: _______________________________ INSTRUCTIONS: 1. The exam lasts 1 hour. 2. The exam is worth 60 points in total: 30 points for the two analytical questions, and 30 points for the multiple choice. 3. Write your answers to Part A (the multiple choice section) in the blanks on page 1. YOU WON’T GET CREDIT FOR CIRCLED ANSWERS IN THE MULTIPLE CHOICE SECTION 4. Place all of your answers for part B in the spaces provided 5. GOOD LUCK! PART A Answer multiple choice questions in the space provided below. USE CAPITAL LETTERS. 1. _ _ C__ 6. __C_ _ 11. __B__ 16. _ _ D __ 21. _ _ B __ 26. _ D _ __ 2. _ _ C__ 7. __B_ _ 12. _ _ _B _ 17. _ _ D __ 22. _ _ D __ 27. _ _ A __ 3. __D_ _ 8. _ _ A_ _ 13. __A __ 18. _ _ C __ 23. _ _ E __ 28. _ _ D __ 4. __C_ _ 9. _ _ A_ _ 14. _E _ _ 19. _ _ B __ 24. _ _ B __ 29. _ _ A __ 5. _ _ A_ _ 10. _ _ B __ 15. _ _ C __ 20. _ _ A __ 25. _ _ C __ 30. _ _ D __
Background image of page 1

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

View Full DocumentRight Arrow Icon
1) GDP can be measured by the A) total value of all sales in the economy. B) total value of all intermediate goods produced in the economy. C) total market value of final goods and services produced in the economy. D) net national product plus investment. 2) The personal saving rate ______ during the 1990s and ______ during 2000-2004 A) increased; increased further B) declined; increased C) declined; remained constant D) remained constant; increased E) increased; remained constant 3) Which of the following would NOT be included in total final product for the US (GDP)? A) welfare payments B) a used car purchased by Helge C) profits a US firm made in Japan D) all of the above 4) Which of the following would be NOT included in total final product for the US (GDP)? A) unplanned inventory investment B) services from housing C) transfers of factor income from the rest of the world D) all of the above 5) Which of the following is NOT a cause of slower growth in per-capita income than productivity? A) slow growth in real GDP B) slow growth in the employment rate C) slow growth in labor force participation D) slow growth in hours per employee E) none of the above 6) Which of the following is NOT a flow magnitude? A) depreciation B) private saving C) the money supply D) aggregate expenditure 7) Domestic Income is equal to A) GDP-Indirect Business Taxes B) GDP-Indirect Business Taxes-depreciation C) GDP-Indirect Business Taxes-depreciation-Social security contributions –corporate taxes D) none of the above
Background image of page 2
8) The implicit GDP deflator is obtained by A) Dividing nominal GDP by real GDP B) Dividing real GDP by nominal GDP C) Constructing a chain-weighted price index D) none of the above 9) In the simple Keynesian model of the determination of income, the price level is assumed to be A) exogenous and to remain constant. B)
Background image of page 3

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

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/04/2010 for the course ECON 311 taught by Professor Gordon during the Spring '08 term at Northwestern.

Page1 / 10

311M1Fall04 - Intermediate Macroeconomics 311 (Professor...

This preview shows document pages 1 - 4. Sign up to view the full document.

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