EXAM I ECON 2105A

EXAM I ECON 2105A - ECON 2105 EXAM I NAME (print): _ For...

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ECON 2105 EXAM I NAME (print): _______________________ For the following six questions below please state whether the change will cause the US dollar a) appreciation (A) b) depreciation (B) c) leave the dollar unaffected (C) Assume that all else is held constant 1) Over the course of the last year the US Central Bank, the Federal Reserve, lowered the interest rate in the US several times. B 2) If, in light of the increased uncertainty about the future direction of the US financial markets, more and more Americans start to invest into mutual funds that specialize entirely in foreign investment (Americans start investing more overseas). This investment trend is expected to cause the US dollar to …. B 3) A sharp increase in foreign tourism to Florida A 4) A drop in the interest rates by major US trading partners, economies of China, EU, Canada. A 5) In the US, the largest single component of the GDP is a) Consumption b) Investment c) Government d) Exports e) Imports 6) Which of the following statements about the GDP is wrong? a) The GDP represents the market value of all final goods and services produced by the factors of production owned by the nation b) The GDP represents the total sum of all the domestic value added in the production during a period of time, such as one year c) Imports enter the GDP with a negative number (they are subtracted) as they represent spending on goods and services produced outside of the country d) none of the above 7) Modern economics is probably best defined as? a) a business discipline that studies financial markets b) a natural science c) a social science d) a philosophy
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8) Which of the following is not considered a resource in economics? a) Labor b) Capital c) Money d) Land 9) The primary focus of economics is on? a) Financial gains
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This note was uploaded on 03/06/2012 for the course BIOL 2107 taught by Professor J.louten during the Spring '10 term at SPSU.

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EXAM I ECON 2105A - ECON 2105 EXAM I NAME (print): _ For...

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