Exam II Pink

Exam II Pink - Econ 252 Exam 2 Pink October 10, 2007 Name...

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price of rice was \$1 per bushel. Using 2004 as the base year, it follows that, for 2005, nominal GDP is __________, real GDP is ___________, and the GDP deflator is _________. a) \$100; \$50; 50 b) \$50; \$100; 200 c) \$100; \$50; 200 d) \$40; \$100; 50 3. If we denote the real interest rate as r, the nominal interest rate as i, and the expected rate of inflation as π e , the “Fisher Effect” can be expressed as: a) r = i - π e b) r = i + π e c) i = r × π e d) r = i/ π e 4. GDP is defined as a) the market value of all goods and services produced within a country in a given period of time. b) the market value of all goods and services produced by the citizens of a country in a given period of time. c) the market value of all final goods and services produced within a country in a given period of time.
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This test prep was uploaded on 04/07/2008 for the course ECON 252 taught by Professor Robertholand during the Fall '08 term at Purdue.

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Exam II Pink - Econ 252 Exam 2 Pink October 10, 2007 Name...

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