Make-up Exam with Answers

Make-up Exam with Answers - ECON 410.502 Macroeconomic...

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Page 1 ECON 410.502 Macroeconomic Theory Spring 2010 Instructor: Guangyi Ma Make-up Exam Answers in bold March 3, 2010
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Problem 1~25: Multiple choice problems Please choose your answer and circle the corresponding capital letter (A, B, C, D) 1. Variables that a model takes as given are called: A) endogenous. B) exogenous. C) market clearing. D) macroeconomic. 2. When studying the short-run behavior of the economy an assumption of ______ is more plausible, in contrast to studying the long-run equilibrium behavior of an economy, when an assumption of ______ is more plausible. A) inflation; unemployment B) unemployment; inflation C) flexible prices; sticky prices D) sticky prices; flexible prices 3. Two equivalent ways to view GDP are as the: A) total payments made to all workers in the economy or the total profits of all firms and businesses in the economy. B) total expenditures on all goods produced in the economy or the total income earned from producing all services in the economy. C) total profits of all firms and businesses in the economy or the total consumption of goods and services by all households in the economy. D) total income of everyone in the economy or the total expenditure on the economy's output of goods and services. 4. All of the following are a flow except : A) the number of new automobile purchases. B) the number of people losing their jobs. C) business expenditures on plant and equipment. D) the government debt. 5. An increase in the price of imported goods will show up in: A) the CPI but not in the GDP deflator. B)
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This note was uploaded on 02/03/2012 for the course ECON 302 taught by Professor Quan during the Spring '11 term at Canadian University College.

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Make-up Exam with Answers - ECON 410.502 Macroeconomic...

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