Name ________________________________________________ ECON 2101 - Principles of Macroeconomics‚ Spring 2009 - Test 1 VERSION B KEY Multiple Choice (2.5 points each) Choose the response that best answers the question or completes the statement. Make sure you put all of your responses on the opscan form. 1. Suppose that a more efficient way to produce a good is discovered‚ thus lowering production costs for the good‚ ceteris paribus. This will cause a(n): a) Increase in quantity supplied
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References: Mankiw‚ N. Principles of Macroeconomics. 7th Edition. Cengage Learning‚ 2015.
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Fundamentals of Macroeconomics Paper ECO/372 Fundamentals of Macroeconomics Paper Some of the terms that are frequently used in economics are; gross domestic product (GDP)‚ real GDP‚ nominal GDP‚ unemployment rate‚ inflation rate‚ and interest rates. Gross domestic product is the money value of the nation’s productivity. GDP is the value of all finished goods and services produced within the country’s border. Real GDP is the market value of the final goods and services produced in a year
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between them can best be explained by comparing their main features. As the terms suggest‚ macroeconomics deals with the market on a large-scale and its aggregate problems‚ while microeconomics concerns markets on a small-scale and individual aspects of the problems. There are six distinct aspects of the two approaches that are shown as in the following table: Microeconomics Macroeconomics (a) Units of the study Individual consumers‚ producers workers‚ traders
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Introduction to Macroeconomics 1) Which of the following is NOT a topic studied in Macroeconomics? A) gross domestic product B) the unemployment rate C) the price of IBM computers D) the inflation rate Answer: C . 2) Which of the following is a topic studied in Macroeconomics? A) gross domestic product B) the wage of auto workers C) the price of IBM computers D) the amount of pizza produced Answer: A 3) Which of the following is a topic studied in Macroeconomics? A) the functioning
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Part B – Macroeconomics Question 10: a) Which of the following are final goods and services and which are intermediate goods and services? Please explain why in your answer. i) A windscreen purchased by a motor vehicle spare parts supplier; Intermediate goods – by national accounts (GDP) windscreen primary production value has already been accounted. It is being resold at a deflated value as second hand goods. ii) A new bulldozer to be used by a construction
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Fundamentals of Macroeconomics Paper Definitions Gross Domestic Product GDP is the value of goods and services which is released quarterly by the Federal Reserve. This includes the goods and services manufactured by that country that calculates the state of a country’s economy. This is the main indicator used to calculate the state of a country’s economy. The GDP is the total market value of all products and services produced in an economy within the time period of one year (Colander‚ 2010)
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Reserve Bank of India India - Macroeconomic Situation Assessment and Prospects Indian Merchants’ Chamber Mumbai June 19‚ 2012 Dr. Duvvuri Subbarao Governor Reserve Bank of India 1 India Macroeconomic Situation Cause for Concern? 2 India - Macroeconomic Situation Trends in Growth Rate Long-Term Trend 10.0 9.0 8.0 7.0 6.2 Per cent 8.5 5.6 8.0 Percent 7.5 7.0 6.5 6.0 5.5 5.0 6.5 8.7 7.5 10.0 9.5 9.6 Recent Trend 9.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 3 India Growth
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Tanzania A M acroeconomic Analysis 1 2/15/2011 1 CONTENTS Sl. NO. TOPIC PAGE NO. 2 1. General Overview of Tanzania 2. Macroeconomic Performance in the recent past 3. Macroeconomic Difficulty-1 § Overview § Possible Solutions 8 10 Macroeconomic Difficulty-2 § Overview § Possible Solutions 12 13 References 14 4. 5. 3 2 The United Republic of Tanzania is a nation in Eastern Africa which was formed in 1964 with the union of
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Econ 103 Ch 4: Page 88 (page 490 in Economics) 1. Define GDP and distinguish between a final good and an intermediate good. Provide examples. GDP is the market value of all the final goods and services produced within a country in a given time period. A final good or service is an item that is sold to the final user‚ that is‚ the final consumer‚ government‚ a firm making investment‚ or a foreign entity. An intermediate good or service is an item that is produced by one firm‚ bought
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