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ECON252 Interim Exam #1 10-03-2013 - PINK

A thenaturalresourcemarket b

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Unformatted text preview: than the nominal interest rate, the real interest rate is negative. D. [All of the above are TRUE] 7. Consider the circular‐flow diagram. Arissa worked 40 hours this week at an IT company, and received $1,120 in pay. In what market did this transaction take place? A. the natural resource market B. the market for factors of production C. the financial market D. the market for goods & services E. the loanable funds market 8. The relative price of red wine increased so consumers have switched to buying more white wine. This substitution is A. missed by the GDP deflator, but captured by the CPI. B. missed by both the GDP deflator and the CPI. C. captured by both the GDP deflator and the CPI. D. captured by the GDP deflator, but missed by the CPI. 9. Suppose capital per worker is $800 in Winterfell, $4,500 in King’s Landing and $3,200 in Castle Rock. If each city increased investment by the same amount, all other things equal, we would expect A. Castle Rock to grow the fastest. B. all three cities to grow at the same rate. C. Winterfell to grow the fastest. D. King’s Landing to grow the faste...
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