test3 - ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011...

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ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011 Version A Page 1 1. Write down your name and last 4 digits of Panther ID number on this page. (No name, no grade) 2. After completing your exam, you must hand in this entire exam booklet. 3. You can use only simple calculators. No wireless devices allowed. A NAME: ___________________________________ Last 4 digits of Panther ID :____________________ Please turn off your wireless devices.
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ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011 Version A Page 2
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ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011 Version A Page 3 Name: __________________________ Date: _____________ PART 1 – Multiple Choice Questions (65 points) Choose the one alternative that best completes the statement or answers the question. ___ 1. All of the following are potential reasons for the poor growth performance of the sub- saharan African countries in the last decades, EXCEPT: A) lack of property rights B) lack of infrastructure C) government corruption D) stable government ___ 2. “Income-expenditure equilibrium” can be defined as a situation in which: A) there is no unplanned inventory investment. B) there are no savings. C) there are no inventories. D) inventory investment is equal to consumption. ___ 3. Long-run economic growth is: A) lower in countries when it has a strong government and independent judiciary. B) lower in countries when the courts enforce property rights and a government that protects its citizens. C) higher in countries when it has a strong rule of law and political stability. D) higher in countries when it has a weak rule of law and excessive government intervention.
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ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011 Version A Page 4 Use the following to answer questions 4-5: Figure: AE1 ___ 4. (Figure: AE1) Refer to Figure AE1. When real GDP is $700 billion, there will be a: A) $125 million decline in unplanned inventory investment. B) $200 million decline in unplanned inventory investment. C) $200 million increase in unplanned inventory investment. D) $125 million increase in unplanned inventory investment. ___ 5. (Figure: AE1) Consider Figure AE1. The equilibrium real GDP is: A) $700 billion. B) $500 billion. C) $625 billion. D) $300 billion. ___ 6. Planned investment spending depends on all of the following, EXCEPT: A) the current level of real GDP. B) the rate of interest. C) the expected future level of real GDP. D) the current productive capacity in the economy.
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ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011 Version A Page 5 ___ 7. The idea that relatively poor nations should have higher rates of growth of real GDP per capita than relatively rich nations is known as the _____. A)
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This note was uploaded on 10/15/2011 for the course ECON 11853 taught by Professor Brianallenhunt during the Spring '10 term at Georgia State University, Atlanta.

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test3 - ECON 2105 Prof. Calvet Exam 3 3:00pm MW Spring 2011...

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