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test1sat_1_aplia - ECONOMICS 1BB3 Introductory...

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ECONOMICS 1BB3 Introductory Macroeconomics Sections C01, C02 Term Test #1 October 17, 2009 This examination paper includes 14 pages including the title page and 43 questions. You are responsible for ensuring that your copy of the paper is complete. Please bring any discrepancy to the attention of your invigilator. Special Instructions : Only the McMaster Standard (Casio - FX991) Calculator may be used. This test paper must be returned along with the scan sheet. Write your name and student number on the test paper and the scan sheet. If you are writing in the wrong room, you will lose 5 points off your test score. If you are wearing a baseball cap, please turn it so the peak is in the back. Please turn off all cell phones. There should be no electronic devices at your seat other than a calculator. All books and bags must be left at the front of the room. You will need your student ID card at your desk, along with your calculator, a pencil, and a pen. If you complete the short answer section in pencil your test will not be re-graded if there is a dispute. Use an HB pencil to fill in the scan sheet. If a TA has to grade your scan sheet by hand, you will lose 5 points off your test score. You cannot fill in the version number of your test paper on the scan sheet. Part A: Multiple Choice Questions: There are 40 multiple choice questions. Please record your answers on the scan answer sheet provided. Part B: Short Answer Questions: There are 3 short answer questions. Please record your answers on the test paper. Part A – Multiple Choice /40 Part B – Short Answer /15 Total /55 1
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Part A - Multiple Choice (40 points) Identify the choice that best completes the statement or answers the question. Answer on the scan sheet provided. 2
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Figure 4-10 1. Refer to Figure 4-10 . Which of the four graphs represents the market for pizza delivery in a college town in September? a. B b. C c. A d. D 2. Which of the following is included in GDP? a. the sale of stocks and bonds b. the sale of services such as visits to a doctor c. the sale of used goods d. All of the above are correct. 3. Suppose that twenty-five years ago a country had nominal GDP of 1,000, a GDP deflator of 200, and a population of 100. Today they have nominal GDP of 3,000, a deflator of 400, and population of 150? What happened to the real GDP per person? a. It more than doubled. b. It was unchanged. c. It fell. d. It rose, but less than doubled. 3
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4. The field of economics is traditionally divided into two broad subfields, a. microeconomics and macroeconomics. b. private sector economics and public sector economics. c. consumer economics and producer economics. d. national economics and international economics. Figure 3-1
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test1sat_1_aplia - ECONOMICS 1BB3 Introductory...

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