ECON2101 Final Exam S1 2011
UNIVERSITY OF NEW SOUTH WALES
School of Economics
ECON2102
Macroeconomics 2
Final Examination
Semester 1, 2011
1. Time Allowed - 2 hours
2. Reading Time – 10 minutes
3. This examination paper has 10 pages
4. Total number of marks available – 70
5. All questions are not of equal value. Marks available for each question are shown in the examination paper.
6. There are two parts to the exam: Part A and Part B
7. PART A consists of 25 multiple choice questions. All questions from Part A must be answered on the answer sheet provided. Each question in Part A is worth 1 mark.
8. PART B consists of 5 questions. Answer THREE (3) of the five questions in Part B.
Each question in Part B is worth 15 marks.
9. Candidates may bring non-programmable calculators to the exam.
10. Answers to Part A multiple choice questions must be coded in pencil.
11. All answers to Part B must be written in ink. In Part B pencils may be used only for drawing, sketching or graphical work.
12. This paper may be retained by the candidate.
Page 1 of 10
PART A: MULTIPLE CHOICE (25 MARKS)
Answer all TWENTY-FIVE (25) multiple choice questions on the answer sheet provided. Select the best option (a, b, c, d or e) for each question. Each question is worth
1 mark.
Question 1
Differences in per-capita output across economies with the same per-capita capital stock can be explained by
(a) differences in labor
(b) differences in total factor productivity
(c) similarities in total factor productivity
(d) differences in physical capital
(e) similarities in physical capital
Question 2
Which of the following does not explain differences in total factor productivity?
(a) institutions
(b) the labour force
(c) human capital
(d) natural resources
(e) technology
Question 3
Which of the following production functions exhibits constant returns to scale?
(a)
School of Economics
ECON2102
Macroeconomics 2
Final Examination
Semester 1, 2011
1. Time Allowed - 2 hours
2. Reading Time – 10 minutes
3. This examination paper has 10 pages
4. Total number of marks available – 70
5. All questions are not of equal value. Marks available for each question are shown in the examination paper.
6. There are two parts to the exam: Part A and Part B
7. PART A consists of 25 multiple choice questions. All questions from Part A must be answered on the answer sheet provided. Each question in Part A is worth 1 mark.
8. PART B consists of 5 questions. Answer THREE (3) of the five questions in Part B.
Each question in Part B is worth 15 marks.
9. Candidates may bring non-programmable calculators to the exam.
10. Answers to Part A multiple choice questions must be coded in pencil.
11. All answers to Part B must be written in ink. In Part B pencils may be used only for drawing, sketching or graphical work.
12. This paper may be retained by the candidate.
Page 1 of 10
PART A: MULTIPLE CHOICE (25 MARKS)
Answer all TWENTY-FIVE (25) multiple choice questions on the answer sheet provided. Select the best option (a, b, c, d or e) for each question. Each question is worth
1 mark.
Question 1
Differences in per-capita output across economies with the same per-capita capital stock can be explained by
(a) differences in labor
(b) differences in total factor productivity
(c) similarities in total factor productivity
(d) differences in physical capital
(e) similarities in physical capital
Question 2
Which of the following does not explain differences in total factor productivity?
(a) institutions
(b) the labour force
(c) human capital
(d) natural resources
(e) technology
Question 3
Which of the following production functions exhibits constant returns to scale?
(a)