105 A BERTEcon102-Wong-MT1-Sum09

105 A BERTEcon102-Wong-MT1-Sum09 - The University of...

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The University of Alberta Economics 102 – B1 Introduction to Macroeconomics First Term Examination SPECIAL CODE: 1 A. Wong 90 Minutes July 16, 2009 Section I: Multiple Choice. Do all 40 questions for 80 marks on the NCS sheet provided in pencil. Each question is worth 2 marks. For each questions, choose the BEST possible answer. 1. The topics studied in macroeconomics include: A) inflation. B) monopolies. C) spillovers like pollution. D) mergers. 2. Among the tools available to macroeconomic policy makers are: A) fiscal policy, control of government spending, and taxation. B) the Competition Act, to break up monopolies. C) environmental policy, to clean up the economy. D) All answer choices are correct. 3. If a one-day ticket to Disneyland Paris costs €50,while to Tokyo Disney it costs ¥12,000, and to Disneyland (in California) it costs US$65, when the euro is selling for US$1.25 and the U. S. dollar is selling for ¥120, other things being equal, the cheapest place to get a one-day ticket to a Disney property is: A) Paris. B) Tokyo. C) California. D) either Paris or Tokyo. 4. As the value of the Canadian dollar falls against that of the U.S. dollar: A) it is unequivocally bad for Canadians. B) its is unequivocally good for Canadians. C) Canadian producers experience a cost advantage over U.S. competitors. D) Canadian consumers can buy U.S. goods cheaper. Version 1 Page 1
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5. Fiscal policy attempts to stabilize the economy during the business cycle through: A) changes in the inflation rate. B) changes in the quantity of money or the interest rate. C) changes in tax policy or government spending. D) discretionary regulation of profits and wages. 6. If a country has a population of 20 million people, a labour force of 10 million people, unemployment of 500,000, and an aggregate output of $1 trillion, then its per capita output is: A) $100,000. B) $94,238.10. C) $50,000. D) $33,333.33. 7. One role for government policy is: A) to provide insurance to cover damages from macroeconomic fluctuations. B) to attempt to manage short-run macroeconomic fluctuations. C) to subsidize private insurance for businesses to cover harm from macroeconomic fluctuations. D) to put an end to macroeconomic fluctuations. 8. Changing the level of government spending is an example of: A) fiscal policy. B) interest rate policy. C) monetary policy D) exchange rate policy 9. In Canada, the official definition of a recession: A) is determined by the National Bureau of Economic Research. B) is two successive quarters of declining real GDP. C) is determined by the House of Commons. D) does not exist. 10. The Canadian economy grew at an average rate of 4.9% between 1947 and 1974. Growth rates slowed to an average of only 2.7% from 1975 through 1996 and subsequently appear to have returned to a rate of 3.5%. Economists: A) believe that this is due to the strengthening of the Canadian dollar.
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This note was uploaded on 09/29/2011 for the course ECONOMICS 331 taught by Professor Mj during the Spring '10 term at University of Alberta.

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105 A BERTEcon102-Wong-MT1-Sum09 - The University of...

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