17/4/2020 MID-TERM EXAM: MACROECONOMICS _ ASSOC. PROF. NGUYEN (.4)
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MID-TERM EXAM:
MACROECONOMICS _ ASSOC. PROF.
NGUYEN (.4)
45 MINUTES
Real GDP is measured
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1.
using constant prices
using current prices
using prices of a constant base year and is corrected for inflation
using prices of a previous year
EXAM DATE2.
17/04/2020
STUDENT CODE3.
17071205
17/4/2020 MID-TERM EXAM: MACROECONOMICS _ ASSOC. PROF. NGUYEN (.4)
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FULL NAME4.
Nguyễn Thành Trung
An American company opens a pasta company in the Italy. The profits from this
pasta company are included in
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5.
a. both U.S. and Italian GNP.
b. U.S. GDP and Italian GNP.
c. both U.S. and Italian GDP.
d. U.S. GNP and Italian GDP
A professional gambler moves from a state where gambling is illegal to a state
where gambling is legal. This move
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6.
a. necessarily raises GDP.
b. doesn’t change GDP because gambling is never included in GDP.
c. necessarily reduces GDP.
d. doesn’t change GDP because in either case his income is included.
Thor is offered a job in Des Moines where the CPI is 80 and a job in New York
where the CPI is 125. Thor’s job offer in Des Moines is for $50,000. How much
does the New York job need to pay in order to make the two salaries have
almost the same purchasing power?
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7.
a. $74,667
b. $52,500
17/4/2020 MID-TERM EXAM: MACROECONOMICS _ ASSOC. PROF. NGUYEN (.4)
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c. $60,900
d. $78,125
John is a stockbroker. He has had several job offers, but he has turned them
down because he thinks he can find a firm that better matches his tastes and
skills. Curtis is an accountant. He has looked for work for some time, but no
accounting firms are hiring.
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8.
a. John and Curtis are both frictionally unemployed.
b. John and Curtis are both structurally unemployed.
c. Curtis is frictionally unemployed, and John is structurally unemployed.
d. Curtis is structurally unemployed, and John is frictionally unemployed.
Use the balance sheet for the following question.
First Bank of Mason City
Assets Liabilities
Required Reserves $20.00 Deposits $100.00
Loans $80.00
If $1,000 is deposited into the First Bank of Mason City,
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9.
a. total reserves will initially increase by $200.
b. liabilities will increase by $1,000.
c. assets will decrease by $1,000.
d. required reserves will increase by $800
The spending components of GDP include
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10.
Consumption and Investment
Government Purchases
17/4/2020 MID-TERM EXAM: MACROECONOMICS _ ASSOC. PROF. NGUYEN (.4)
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Net Exports
All above
We care about GDP because
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11.
a. many indicators of the quality of life are positively correlated with GDP
b. large GDP enables a country to afford better schools, a cleaner environment,
health care
c. many indicators of the quality of life are negatively correlated with GDP
d. a and b
Nominal GDP is measured
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12.
using current prices
using constant prices
using prices of a constant base year and is corrected for inflation
using prices of a previous year
Productivity is
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13.
the main determinant of consumption
the main determinant of living standards in the long run
the only determinant of investment in the long run
the main determinant of living standards in the short run
17/4/2020 MID-TERM EXAM: MACROECONOMICS _ ASSOC. PROF. NGUYEN (.4)
Productivity depends on
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14.
a. physical and human capital per worker
b. natural resources per worker, and technological knowledge
c. physical and human capital, natural resources, and technological knowledge
d. a and b
Because of diminishing returns to capital,
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15.
poor countries may “catch up” to rich ones
rich countries may far exceed poor ones
poor countries always “catch up” to rich ones
