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Old Exam 1

# Old Exam 1 - ECO4203 Intermediate Macroeconomic Theory Dr O...

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ECO4203: Intermediate Macroeconomic Theory Dr. O Norrbin OLD MIDTERM EXAM 1 Multiple-choice Questions _______1. Assume that a tire company sells 4 tires to an automobile company for \$400, another company sells a compact disc player for \$500, and the automobile company puts all of these items in or on a car that it sells for \$20,000. In this case, the amount from these transactions that should be counted in GDP is: A) \$20,000. B) \$20,000 less the automobile company's profit on the car. C) \$20,900. D) \$20,900 less the profits of all three companies on the items that they sold. _______2. An increase in the price of goods bought by firms and the government will show up in: A) the CPI but not in the GDP deflator. B) the GDP deflator but not in the CPI. C) both the CPI and the GDP deflator. D) neither the CPI nor the GDP deflator. ________3. If 7 million workers are unemployed, 143 million workers are employed, and the adult population equals 200 million, then the unemployment rate equals approximately ______ percent. A) 3.5 B) 4.7 C) 4.9 D) 7 _________4. If a U.S. citizen is employed by a U.S. company in Brazil, the income she earns is: A) part of U.S. GDP and Brazil’s GNP B) part of U.S. GDP and Brazil’s GDP C) part of U.S. GNP and Brazil’s GNP D) part of U.S. GNP and Brazil’s GDP

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Old Exam 1 - ECO4203 Intermediate Macroeconomic Theory Dr O...

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