NU Exam I

NU Exam I - Exam I NAME (please PRINT):_MIM_ In Questions...

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Exam I NAME (please PRINT):________MIM _______________ In Questions 1-7: indicate whether the stated event, all else held constant, is expected to lead to appreciation (A), depreciation (B), or no change in the value (C) of the USD 1) Increased US tourism to overseas destinations DEPRECIATION 2) Increase in US exports APPRECIATION 3) Increase in US imports DEPRECIATION 4) Increase in foreign investment into the US APPRECIATION 5) Increase in the US interest rates APPRECIATION 6) Increase in US investment overseas DEPRECIATION 7) Increase in the degree of risk associated with investing into the US DEPRECIATION For multiple choice questions just circle your answer choice 8) Which of the following best defines modern economics? a. A social science that studies allocation of resources b. A natural science that studies human behavior c. A business discipline that studies financial markets d. None of the above 9) Economics is primarily concerned with a. efficiency b. financial gains c. functions of government d. none of the above 10) Which of the following is not considered a resource in economics? a. labor b. physical capital c. money d. human capital e. none of the above 11) What ensures productive efficiency in a capitalist economy? a. competition between firms b. government regulations c. legal system d. none of the above 12) Which of the following statements is incorrect? a. most modern economies have a mixed economic system where elements of capitalism are intermixed with elements of socialism b. Western European economies tend to have a greater presence of socialism in their economies than the US c. In the 1990’s the Eastern European economies underwent a transition to a capitalist (or mixed), market based economic system d. Capitalism does not require an individual to be selfless, while both, communism and socialism do require some degree of selfishness on the part of the individual (in order for either of them to be voluntarily accepted as an economic system)
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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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NU Exam I - Exam I NAME (please PRINT):_MIM_ In Questions...

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