FinalF09 - Name_ Recitation Day & Hour _ Signature_...

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Name________________________ Signature__________________ Econ 520 Fall 2009a Final 1 hour, 48 minutes. Closed book and notes . Graphing and alphanumeric calculators or computers may not be used, nor are cell phones allowed . A non-graphing calculator may be used if desired, but is probably not necessary. Please cover your answers. Please bubble in your name on your answer sheet, plus the information requested in questions 0 and 00 below. Social Security # is not necessary. There are 50 questions , 4 points each, for 200 points. Record the best answer to each question in #2 pencil on your bubble sheet. Make sure you have all 60 questions. When done, please place your bubble sheet inside this question sheet and return both to the proctor with your photo ID . 0. Under Special Code K, please bubble in the number 1 . 00. Under Special Code L, please bubble in, according to your recitation, 1 for Wed. 11:30 2 for Wed. 1:30 3 for Fri. 11:30 4 for Fri. 1:30 1. In October 2009, the US civilian unemployment rate was at its highest level since a) The Great Depression of the 1930s b) 1973-75 c) 1982 d) 1991 e) 2003 2. Between 2008 Quarter 2 and 2009 Quarter 2, US GDP fell by 3.8%. This was the worst contraction of US GDP since a) The Great Depression of the 1930s b) 1973-75 c) 1982 d) 1991 e) 2003 3. Holding constant the average length of time money is held between receipt and expenditure, an increase in real transactions conducted with money will a) increase real money demand b) decrease real money demand c) leave real money demand unchanged d) increase real money demand under a commodity standard, but decrease it under a fiat money standard e) decrease real money demand under a commodity standard, but increase it under a fiat money standard 4. Holding constant the volume of real transactions conducted with money, an increase in the average length of time it is held between receipt and expenditure will (same key as previous question) 5. In US monetary history, the de facto Silver Standard lasted approximately a) 1792 – 1834 b) 1834 – 1861 c) 1862 – 1879 d) 1879 – 1933 e) 1933 – present 6. If a bond is selling above par, its yield will be
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2 a) above its coupon rate (annual coupon/face value) b) equal to its coupon rate c) below its coupon rate d) above its coupon rate if it is indexed for inflation, but not otherwise e) below its coupon rate if it is indexed for inflation, but not otherwise 7. Suppose that a 30-year fixed-rate mortgage has a duration of 10 years. If yields to maturity rise by 1 percentage point (100 basis points), what is the approximate change in its present value? a) Zero since its rate is fixed. b) -1%
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FinalF09 - Name_ Recitation Day & Hour _ Signature_...

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