11S_Mid1 - ECONOMICS 204 PAGE NUMBER 1 UNIVERSITY OF...

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ECONOMICS 204 PAGE NUMBER 1 UNIVERSITY OF VICTORIA ECONOMICS 204 MIDTERM 1 – Spring 2011 DURATION: 50 MINUTES INSTRUCTOR: J. Li NAME ________________________________ V STUDENT NUMBER: _________________ THIS QUESTION PAPER HAS 7 PAGES. PLEASE COUNT THE NUMBER OF PAGES IN THIS EXAMINATION PAPER BEFORE BEGINNING TO WRITE, AND REPORT ANY DISCREPANCY IMMEDIATELY TO THE INVIGILATOR. ANSWER ALL QUESTIONS BY WRITING ON THIS EXAMINATION PAPER. FOR 1 MARK BE SURE TO TUCK YOUR CRIB SHEET (WITH YOUR NAME IT) BETWEEN PAGES 1 AND 2 WHEN HANDING IN YOUR EXAM PAPER. Section 1 (20 marks) Answer ALL multiple-choice questions by circling (and ONLY circling) the letter corresponding to the best answer. 1. Macroeconomic models are used to explain how ______ variables influence ______ variables. A) endogenous; exogenous B) exogenous; endogenous C) microeconomic; macroeconomic D) macroeconomic; microeconomic 2. All of the following are a stock except : A) a consumer's wealth. B) the government budget deficit. C) the number of unemployed people. D) the amount of capital in the economy. 3. The CPI is determined by computing: A) an average of prices of all goods and services. B) the price of a basket of goods and services that changes every year, relative to the same basket in a base year. C) the price of a fixed basket of goods and services, relative to the price of the same basket in a base year. D) nominal GDP relative to real GDP.
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ECONOMICS 204 PAGE NUMBER 2 4. According to the definition used by Statistics Canada, a person is not in the labour force if that person: A) is going to school. B) is temporarily absent from a job because of illness. C) has been temporarily laid off. D) is out of a job and looking for work during the previous four weeks. 5.
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This note was uploaded on 01/27/2012 for the course ECON 204 taught by Professor Beryl li during the Spring '11 term at University of Victoria.

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11S_Mid1 - ECONOMICS 204 PAGE NUMBER 1 UNIVERSITY OF...

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