Question 1 O I 1 point
If real GDP grows at an annual rate of 1%, it will double in approximately years.
ﬂ d) 70
Question 2 0 I 1 poinl
Econ 1023 (FR05B)
Due Feb 6, 2013
1. The table provides some data on the U.S. economy in 1990 and 1991.
Aggregate hours (billions)
Real GDP (billions of 1996 dollars)
Capital per hour of lab
Question 1 l I 1 point
If the cost of a market basket is $150 in year 1 and $200 in year 2f the price index for year 1 using year 2 as the base is:
J 0 a) ?5.
Question 2 1 If 1 point
If real GDP rises while nominal GDP falls, then
Question 1 0 I 1 point
A person who spends time looking for work is:
a) counted as employed.
b) usually counted as a discouraged worker.
ﬂ c) engaged in job search.
x 0 d) counted as out of the labour force.
Question 2 1 I 1 point
Table: Population Data f
Question 1 O ,l' 1 point
If the current rate of interest were higher than the current equilibrium interest rate, then the Bank of Canada would:
i a) sell treasury bills in the open market, decrease the money supply, and raise the interest rate.
x ° b) sel
Ch 14 random sectio
Question 1 1 I 1 point
Scenario: Holding Cash
Suppose that the public holds 50% of the money supply in currency and the reserve ratio is 20 percent. Banks hold no excess reserves. A customer deposits
$6000 in her chequeable deposit.