Principles of Macroeconomics: A Study Guide

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Unformatted text preview: Colorado School of Minn Division of Economics and Busfims EBGN-312 Principle! of Macroeconomics Spring Semester 2W2 - B Em# 1 nmoopmthamdanmmm [3] mm“ c} mfhflddnflm. [d] wflhnut inflation. 2 mmmmmmwmmmmhhm .a—fiap Whom”. {b} WWMW. [cl WMMGDP. {d} buthDPmde. 3 mmammmmhmwflwmmfiywm Wm mm {'1} mm M mm [d] mm 4 mwmfimmmmhmwhm» 1 ”mm WWII. mm ' {d3 gamma-dud. 5 Hhiflmdnflmflhmm {c} WWW {d1 hlporllmm 6 hflafimhain} (a) mummmm mmflmmflhudofmnlficaoflviw. kmhfiumflmhfl. mommmamm. "I mawMoMammmmm {a} WWW {h Thom-ultra: 3 Grmdmnaflopvodudmmdmmofflnpfimofofimd. orbuo. youth In] WGDP. ' HEIDI! “GDP. {11} mantra! GDP. 9 nmhmmmmomhmmmmmm {a} Bifififlhfllon. fh, ls$550bfllm. 1534mm mummmm 1“ mmwmmmomh [a] worm-Em inn-bout. mpflon. l numb- ll mwmm Mahmoudtohm alopuupumdfioflmhfi. {o} “Nubian. {d} @3me 12 MWhGDthmflBWB GDP-C+I+G+E{—M. GDP=C+I+G+(M-EJD. to} GDP uC+I+G+H€+lM. (d) GDP -C+I+G-EK-M. l3 Nomi: ”WWW mme {c} WWMW {1!} WWW“ 14 mammmmmdm‘mfi {a} Tummmmm Tommfludmdufinw #455519 Too-squirm . {d} Todeuflopnnmpbodladulo 15 'flupafiodinflmhmmfiunopflktoohoughhfln} 5E} boom. In] mm [{1} Inflation. 16 Humtfihqandunflnpbfimhmmwmmhehn $1”... {cl Ed] hypcrhlflaflmwy period. 1'? mmmmmmmmdmmwhuhmmmm fl _ WW. W {:1 m {d} M 18 WI: [:1 hmhflnumlpmahml. [b1 haddflonalaqlflalmdlmaw. w hmduflwmmum. {d} mmamwmm 19 mmnmmwmawbmhflddm {a} m w m cl alum. {d} depression 2|} WWW: {a} GDPphudapadul-Im. WWW WWW WWW- 21 Nam-equals {a} GDPmlmnfimlaaha {b} Gmmmmflrflfln of? mmmm {1} WWW. 22 mmmm mwmmm {a} mmdmmmmmmdmmhmmm- WWW flwpuhdofhlghhflafiunh-flwmiglm ldl thEm 23 mmmddmflmmmmuimmh {a} tlwdmugumhlailmirmnhrhs. [b1 W. mum gum 25 mmmmmmwmmmflfluhm moi Midi-Mummdflummmp. «afivm {d} mm. 1% mmmmbflhflm Id} mmmwm 27 mmmhm [a1 mmmmuflmmmwm. mmmmmuwww1m mammbuwmwm mammhmwmwbym. 28 8:316thme [all unmmmmummm (b) ”pm“. ,@ mflnpfiuaafahucya‘. ”MWMMWWIGDPMMMGW. 29 mmmfiummmamu la] Wm. lb: m inflation {d} W 3!] Enpodsaqull III} “WE-network. ”fig? mm+irnpalh ham—lam {fill hm+lmwh+imwhl Problem 1 {It} points) You are given the following information about an economy that Mazes only bread and steaks. Use this infonnation to answer the following ten (11]) questions. 'I. (1) Ifwe use a fixed-weightproeedure and year 1 as the base year, then real GDP in year 1 ens-1n) is equal in: 650 ° (b) 2300 {e} 2520 (d) 2354 (2) If we use a fixednweight pmeednre and year 1 as the base year, then real GDP in year 2 (RGDPZJ'I) is equal to: (a lflflfl 50E! (e 230i.) (:1) None of the above (3) If we use a fixed-weight procedure and year 2 as the base year, time real GDP in year I (RGDPII‘Z) is equal to: a 168$ 196$! (o) 1994 (:1) None of the above (4) Ifwe use a fixed-weight procedure and year 2 as the base year, then real GDP in year 2 (RGDPZIZ) is equal to: (a) 265!) (b) 19m {5) If we use a fixed-weigh procedure and year 2 as the base year, then real GDP in year 3 {RGDPSQJ is equal to: (a) 1:550 2300 e) 2940 (d) 1960 {6) If we use a fined-weight procedure and year 3 as the base year, then real GDP in year 2 RGDPZIB) is equal to: .5? 52a .3. 195:} (e) 1903 {a} 1650 (T) Ifwe use a fixed-weight procedure and year 3 as the base year, then real GDP in year 3 (RGDPMS) is equal to: (a) 1650 (b) 1994 (e 2300 450 (8) Using the ohain-rweighted method, the inter-annual growth rate of RGDP between year 1 and. year 2 is equal to: a 15% l 133% o] —9.fl§l% (a) 44.29% (9) Using the chain-weighted method, the inter—annual growth rate of RGDP between year 2 and year 3 is equal to: {a} 25% (b) sees 6.90% None of the above (1 [1) Using the chain-weighted method, the annual values of RGDP of year 1 in chained dollars of y- :_. 2 is equal to: iGF'IB (e) 2300 (d) None of the above Problem 2 (10 points} P St} ll] 0” QB 40 100 \ Rafer 11} this gnph for the next lfl questions. 1 The slope ofthe supply curve above is: (a) -1.I}fl _ (b +1.25 +1.01) d) —2.Ufl 1 Thaslopenfflwdmandmeabowis; (a) -2.flfl (b) +0.50 c 4140 41.50 3 The specific flucfionnl form for the $1,113.31},r curve is: j? P=10+Qs }P=lfl-Qs (c) P=4D+Qs (d) P=5+Qs 4 Themific functional fonnforfl'ledcmand cuneis: (a) P=ID—Qd (b P=Qd—ID P=so—u.5Qd _ . (d) P=25—-U.5Qd 5 The apfilihrium quantity, QB, is equal to: a 40.1} 26.? {6) 100.0 (:1) 36.? 6 The equilibrium price, Po. is equal to: (a) 40.0 (b) 26.? ( —1o.o .43» @ 35.? T Ifinoome. I, inereases and t? Qd ,_2- D then: ' a I (a) The demand eurve shifts left The demand curve shifts rigrt {o} The demand curve shifie down {d} There is an upward movement of quantity demanded along the come it If m it), andPgistheprioe ofaseeondgood, flierer,theseeondgoodisa{n}: a P; (e) substitute good inferior good complimentary good (it) normal good 5' TherelaztionshiphetweenthequmfitydenrsrtdedofagooiQimdflreprioeofthatgood,P,eanbe formallyatatedas: ' ' {a} flQdfflP}l} (b flQdfdP=D anrarco {d} deIaIr-zt} I'll ThemhfionshipbehvemflteqmfitysuppfiedofagooiQs,andthepfiee ofthatgourl,P,canbe formallystaiedas: W astdPe-{l HQSIHP=EI (g) aerar-«zo (h) §st3Qd€fl ...
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