test_2_-_final - ECON 2010 Spring 2011 Test 2 March 16th,...

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ECON 2010 Spring 2011 Test 2 March 16 th , 2011 Hi, my name is ________________________________________________. I read the rules below and agree to conform to them. I understand that if I do not conform, academic misconduct charges can be filed against me. Sign:_____________________________________ 1. I will start and stop doing the test when I am told so. 2. I will not use any materials that are not allowed. Allowed materials are pencils, erasers, small scantron and highlighters. 3. My cell phone, laptop and any other similar electronic devices will stay turned off during the test. 4. I understand that only the answers on my scantron will count. 5. If I see a mistake in a question or if I do not understand the question I can ask about it to the proctor. But no changes will be made to any of the questions (except small typos). Therefore, I will answer that question as best as I can and object to it later by contacting the instructor.
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per capita? A) 4.7% B) 10.5% C) 15% D) 21% 2) Countries with high rates of economic growth tend to have A) a labor force that is more productive. B) a lower life expectancy at birth. C) low rates of technological advancement. D) a declining incidence of business cycle fluctuations. 3) Which of the following is an example of human capital? A) a computer B) a factory building C) a college education D) a software program 4) Potential GDP refers to A) the level of GDP attained when all firms are producing at capacity. B) the level of GDP attained by the country with the highest growth in real GDP in a given year. C) the difference between the highest level of real GDP per quarter and the lowest level of real GDP per quarter within any given year. D) the extent to which real GDP is above or below nominal GDP. 5) When the government runs a budget deficit, we would expect to see that A) private saving will fall. B) investment will fall. C) G + TR < T. D) public saving is positive. 6) What is investment in a closed economy if you have the following economic data? Y = $10 trillion, C = $5 trillion, TR = $2 trillion, G = $2 trillion A) $2 trillion B) $3 trillion C) $5 trillion D) cannot be determined without information on taxes ( T ) 7) An increase in the demand for loanable funds will occur if there is A) an increase in the real interest rate. B) a decrease in the real interest rate. C) an increase in expected profits from firm investment projects. D) an increase in the nominal interest rate accompanied by an equal increase in inflation. 8) The period between a business cycle peak and a business cycle trough is called A) expansion. B) recession.
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This note was uploaded on 08/21/2011 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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test_2_-_final - ECON 2010 Spring 2011 Test 2 March 16th,...

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