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Practice Test #1b

Practice Test #1b - ECO 3202 Applied Macroeconomics...

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ECO 3202 Applied Macroeconomics – Practice Test #1b – September 2010 1. The inflation rate is a measure of how fast: A) the total income of the economy is growing. B) unemployment in the economy is increasing. C) prices in the economy are rising. D) the number of jobs in the economy is expanding. 2. When a firm sells a product out of inventory, GDP: 3. The factor that makes national saving equal investment, in equilibrium, is: 4. Real GDP means the value of goods and services is measured in ______ prices. Page 1
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5. The investment function slopes ______ because there are ______ investment projects that are profitable as the interest rate decreases. A) upward; fewer B) upward; more C) downward; fewer D) downward; more 6. All of the following actions are investments in the sense of the term used by macroeconomists except : 7. The income velocity of money:
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