NU Exam II

NU Exam II - Exam II Please mark your answers clearly NAME...

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Exam II NAME (PRINT): ___________________________ Please mark your answers clearly 1) Which of the following statements about the US inflation in the 1990’s is incorrect? a) broadly defined inflation was relatively low (under 5% in each of the years) b) inflation was felt at the same rate across all product/service categories c) inflation was higher in major service categories, such as education and health care d) inflation was lower in those areas where foreign competition was present e) none of the above 2) When the average of all prices in the economy decreases, the economy is said to experience a) inflation b) deflation c) stagflation d) economic expansion 3) When the unemployment rate increases inflation is likely to a) increase b) subside c) stay constant d) none of the above 4) An increase in business inventories is likely to be followed by a) increased inflation b) increased production c) reduced production d) increased employment e) none of the above 5) Which of the following will NOT be included in the Core CPI? a) medical services b) housing services c) gasoline d) cars e) educational services 6) During the month of September the price of gasoline declined substantially, this should have resulted in a) the CPI growth for the month being greater than the Core CPI growth b) the CPI and Core CPI growth rates being the same c) the Core CPI growth being greater than the CPI growth d) none of the above
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7) If an economy experiences deflation then a) the growth in nominal GDP will exceed the growth in real GDP b) the growth in real GDP will exceed the growth in nominal GDP c) both, the real and nominal GDP will grow at the same rate d) none of the above 8) Which of the following components of the GDP is the largest in the US? a)
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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 II - Exam II Please mark your answers clearly NAME...

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