CHAPTER 3
GROWTH AND ACCUMULATION
Difficulty: Easy
1. Growth accounting explains
A) how economic decisions control the accumulation of capital
B) how the current savings rate affects the stock of capital in the future
C) what part of growth in total outpu
CHAPTER 5
AGGREGATE SUPPLY AND DEMAND
Difficulty: Easy
1. If factor markets were perfectly competitive, then full employment would be the normal
condition and
A) inflation would always be zero
B) output would rise steadily with price increases
C) there wo
CHAPTER 4
GROWTH AND POLICY
Difficulty: Medium
1. Assume a production function with only two inputs, capital and labor. In this case, the
concept of a diminishing marginal product of capital implies that
A) as less capital is being used, more and more lab
CHAPTER 1
INTRODUCTION
Difficulty: Easy
1. Which of the following is NOT a central issue in macroeconomics?
A) How should the central bank of a country fight inflation?
B) What is responsible for high and persistent unemployment?
C) How do tax changes inf
1. According to the text, as compared to rich countries, most of the poor countries do not fare well because:
a. they have no oil.
b. the people in these countries have limited property rights.
c. access to education in these countries is very limited.
d.
1. Shirley can choose between peanut butter pretzels and caramel coated popcorn for her evening snack. According to
economists, her _ cost of consuming caramel coated popcorn would be the forgone peanut butter pretzels.
a. internal
b. opportunity
c. avera
1. The author of the textbook defines economics as the
a. science of efficiency.
b. science of scarcity.
c. study of markets.
d. study of human activity.
ANSWER: b
2. When economists speak of scarcity, they are referring to the
a. condition in which socie
ISL 233 MKROKTSAT
UYGULAMA (7)
3-4 ARALIK 2012
1.
The long-run cost function for LeAnn's telecommunication firm is: C ( q ) = 0.03q 2 . A local
telecommunication tax of $0.01 has been implemented for each unit LeAnn sells. This implies
the marginal cost f
ISL 233 MKROKTSAT
UYGULAMA (3)
22-23 EKM 2012
SORULAR
1.
The following combinations of goods X and Y represent various market
baskets. Consumption is measured in pounds per month.
Market Basket Units of X
Units of Y
A
4
6
B
16
7
C
15
3
D
3
2
Explain which
ISL 233 MKROKTSAT
UYGULAMA (2)
15-16 EKM 2012
SORULAR
1.
American Mining Company is interested in obtaining quick estimates of the supply and
demand curves for coal. The firm's research department informs you that the elasticity of
supply is approximately
ISL 233 MKROKTSAT
UYGULAMA (4)
5-6 KASIM 2012
SORULAR
KLAS K SORULAR
1.
The following table presents Mary's marginal utility for each of the four goods she
consumes to exhaust her income. The price of Good 1 is $1, the price of Good 2 is
$2, the price of
ISL 233 MKROKTSAT
UYGULAMA (4)
5-6 KASIM 2012
CEVAPLAR
KLAS K SORULAR
1.
The following table presents Mary's marginal utility for each of the four goods she
consumes to exhaust her income. The price of Good 1 is $1, the price of Good 2 is
$2, the price of
ISL 233 MKROKTSAT
UYGULAMA (3)
22-23 EKM 2012
CEVAPLAR
The following combinations of goods X and Y represent various market baskets.
Consumption is measured in pounds per month.
1.
Market Basket
Units of X
Units of Y
A
4
6
B
16
7
C
15
3
D
3
2
Explain whic
ISL 233 MKROKTSAT
UYGULAMA (6)
26-27 KASIM 2012
Murray Manufacturing Company produces pantyhose. The firm's production function is given
as:
1.
Q = 5LK,
where Q = pairs of pantyhose, L = labor measured in person hours, and K = capital measured
in machine
ECONOMIC HISTORY
WORLD WAR II (1939 1945)
(Economic Consequences)
Background
World War II 1939 1945, a worldwide conflict between two coalitions,
designated as the Axis Powers and the Allies.
The Allies consisted of the United States, the United Kingdom,
ECONOMIC HISTORY
THE FIRST WORLD WAR (WWI)
(1914 1918)
(Economic Aspects)
Cause of the War
Historians have traditionally cited four long term causes of the First World
War
o NATIONALLISM a devotion to the interests and culture of ones
nation
o IMPERIALISM
ECONOMIC HISTORY
THE GREAT DIVERGENCE
Definition
Refers to the process in the 19 th century by which the Western world emerged
as the most powerful and wealthy world civilization of the time.
Defeating China, Mughal India, Tokugawa Japan, and the Ottoman
ECONOMIC HISTORY
Rebuilding after World War II
Inside the U.S:
Transition from Wartime to Peacetime Economy
American economy after WWII
Americans prospered due to an expanding economy stimulated by Americans
involvement in the war.
Reasons for rapid growt
1) What is meant by the great divergence? Thoroughly discuss the theories
of the great divergence. What is its relation with the Industrial
Revolution?
Refers to the process in the 19th century by which the Western world emerged as the
most powerful and w
ISL 233 MKROKTSAT
UYGULAMA (2)
15-16 EKM 2012
CEVAPLAR
1.
American Mining Company is interested in obtaining quick estimates of the supply and
demand curves for coal. The firm's research department informs you that the elasticity of
supply is approximatel
ISL 233 MKROKTSAT
UYGULAMA (1)
8-9 EKM 2012
CEVAPLAR
1.
The price of a taco was $0.29 in 1970 and $0.99 in 1993. The CPI was 38.8 in 1970 and 144.0 in 1993.
What is the 1993 price of a taco in 1970 dollars?
Solution:
Real Price (1993) = [CPI (1970)/CPI (1
ECONOMIC HISTORY
THE GREAT DEPRESSION (1920 to 1941)
Great Depression
Worst and longest economic collapse in the history of the modern
industrial world, lasting from the end of 1929 until the early 1940s.
Beginning in the United States, the depression spr
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INSTRUCTORS
MANUAL
Nora Underwood
University of Central Florida
http:/ingesolucionarios.blogspot.com
http:/ingesolucionarios.blogspot.com
CONTENTS
P A R T 1: Introduction: Markets and Prices
Chapter 1
Preliminaries
1
C
QUESTIONS
1. Which one is one of the examples of business secrets?
A. Company Supplier relation
B. Sales technique
C. Company Customer relations
D. All of them
2. Is a current account agreement terminated as;
A. On the date of expiry
B. Notice of either p
QUESTONS
1. According to principle of _ , the participations in a commercial enterprice
are free to agree to the legal form at company that best suits their needs ?
A)
B)
C)
D)
E)
Commercial contract
Organizations contract
Freedom of contract
Right of con
CHAPTER 6
AGGREGATE SUPPLY AND THE PHILLIPS CURVE
Difficulty: Medium
1. The theory of aggregate supply is one of the most controversial in macroeconomics because
A) modern models, while similar in their starting points, reach widely different results in
e
CHAPTER 9
POLICY PREVIEW
Difficulty: Easy
1. A central bank that wants to stabilize the economy in the short run should try to
A) establish a clear inflation target and stick to it no matter what
B) affect aggregate supply through open market operations
C
CHAPTER 8
INFLATION
1.
A)
B)
C)
D)
E)
If inflation were always perfectly anticipated, then
its real costs would exactly equal the inflation rate
people would hold less cash but would still suffer losses since money balances are always positive
the yield o
