Econ 301 Intermediate Macroeconomics
Econ 301 Intermediate Macroeconomics, Professor __________ Park University Online,
Fax _________________
Final Exam (Weight 300 Points) STUDENT’S NAME ______________________________
Multiple choice Questions. (Weight 5 points each) Choose the best answer.
1) The unemployment rate is the number of ?
2) The value of steel sold to an automobile producer is __________ directly included in the GDP because __________.
3) In the simplest Keynesian model of the determination of income, interest rates are assumed ?
4) An increase in the money supply will raise equilibrium GDP if the IS or IM curve?
5) The aggregate demand curve may be derived from the IS-LM analysis by shifting
6) Suppose that members of Congress and the President …show more content…
21) In the early 1970s monetary growth was relatively stable yet unemployment and prices were quite unstable. This suggests that ?
22) A policymaker would prefer that the lag in the effect of a policy be ?
23) Which of the following statements best describes the rational expectations hypothesis?
Individuals will not enter into long-term agreements unless they are certain about the payments they will receive; it is likely that individuals will consistently make errors; it is reasonable to expect individuals to consistently underestimate the level of inflation; individuals will make random errors, independent of previous errors
24) Business cycles will occur if either of the two theories below characterizes the behavior of the economy deflation impotence or rigid nominal wages and/or the classical or the real balance theory and/or the classical or the Keynesian theories of aggregate demand.
25) If it is less costly for business firms to adjust the labor demanded as the price level changes than it is for households to adjust Ns, then in the short-run?
26) Switzerland has experienced the lowest rate of price increases in the post World War II period. Consequently, Lucas would
Fax _________________
Final Exam (Weight 300 Points) STUDENT’S NAME ______________________________
Multiple choice Questions. (Weight 5 points each) Choose the best answer.
1) The unemployment rate is the number of ?
2) The value of steel sold to an automobile producer is __________ directly included in the GDP because __________.
3) In the simplest Keynesian model of the determination of income, interest rates are assumed ?
4) An increase in the money supply will raise equilibrium GDP if the IS or IM curve?
5) The aggregate demand curve may be derived from the IS-LM analysis by shifting
6) Suppose that members of Congress and the President …show more content…
21) In the early 1970s monetary growth was relatively stable yet unemployment and prices were quite unstable. This suggests that ?
22) A policymaker would prefer that the lag in the effect of a policy be ?
23) Which of the following statements best describes the rational expectations hypothesis?
Individuals will not enter into long-term agreements unless they are certain about the payments they will receive; it is likely that individuals will consistently make errors; it is reasonable to expect individuals to consistently underestimate the level of inflation; individuals will make random errors, independent of previous errors
24) Business cycles will occur if either of the two theories below characterizes the behavior of the economy deflation impotence or rigid nominal wages and/or the classical or the real balance theory and/or the classical or the Keynesian theories of aggregate demand.
25) If it is less costly for business firms to adjust the labor demanded as the price level changes than it is for households to adjust Ns, then in the short-run?
26) Switzerland has experienced the lowest rate of price increases in the post World War II period. Consequently, Lucas would