ECO 372 WEEK 2 Quiz

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ECO 372 WEEK 2 Quiz

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ECO 372 WEEK 2 Quiz

ECO 372 WEEK 2 Quiz

ECO 372

MACROECONOMICS

WEEK TWO QUIZ

  1. During the past century the average grow the rate of S. real GDP per person implies that it doubled, on average, about every
    1. 100
    2. 70
    3. 35
    4. 25
  2. In some East Asian countries, average income, as measured by real GDP per person, has recently grown at an average annual rate that implies out put will double a bout every
    1. 10
    2. 15
    3. 20
    4. 25
  3. Which of the following is a good gauge of economic progress?
    1. thelevelofrealGDPperperson,butnotthegrowthrateofrealGDPperperson
    2. thelevelofrealGDPperpersonandthegrowthrateofrealGDPperperson
    3. thegrowthrateofrealGDPperperson,butnotthelevelofrealGDPperperson
    4. neitherthelevelnorthegrowthrateofrealGDPperperson
  4. A nation’s standard of living is best measured by its
    1. realGPD
    2. realGDPper
    3. nominal
    4. nominalGDPper
  5. Which of the following statements is correct?In 2010,
    1. realincomeperpersonintheS.wasabout6timesthatinChina.
    2. realincomeperpersoninChinawasmorethan2timesthatin
    3. thetypicalresidentofIndiahadlessrealincomethanthetypicalresidentofEnglandin
    4. Alloftheaboveare
  6. The primary economic function of the financial system is to
    1. keepinterestrates
    2. provideexpertadvicetosaversand
    3. matchoneperson’sconsumptionexpenditureswithanotherperson’scapital
    4. matchoneperson’ssavingwithanotherperson’s

 

  1. Which of the following statements is correct?
    1. Theexpectedfutureprofitabilityofacorporationinfluencesthedemandforthatcorporation’s
    2. Whenacorporationsellsstockasameansofraisingfundsitisengagingindebt
    3. TheownersofbondssoldbytheMicrosoftCorporationarepartownersofthat
    4. Allbondsare,bydefinition,.
  2. If the government’s expenditures exceeds its receipts. It would likely
    1. lendmoneytoabankorotherfinancial
    2. borrowmoneyfromabankorotherfinancial
    3. buybondsdirectlyfromthe
    4. sellbondsdirectlytothe
  3. Suppose you put $500 in to a bank account today. Interest is paid annually and the annual interest rate is 3. The future value of the$500 after 1 year is
    1. $485.44.
    2. $496.50.
    3. $509.28.
    4. $515.00.
  4. If the interest rate is 5 percent, then what is the present value of$4,000 to be received in 6 years?
    1. $2,420.68
    2. $2,591.85
    3. $2,996.33
    4. $3,040.63
  5. Suppose your uncle offers you$100 today or$150 in 10 years. You would prefer to take the$100 today if the interest rate is
    1. 3
    2. 4
    3. 5
    4. Noneoftheaboveis
  6. Compoundinrefers directly to
    1. findingthepresentvalueofafuturesumof
    2. findingthefuturevalueofapresentsumof
    3. changesintheinterestrateovertimeonabankaccountorasimilarsavings
    4. interestbeingearnedonpreviously-earned
  7. To maintain their standard of living, most people rely on
    1. government
    2. theirpersonal
    3. theirlabor
    4. rental
  8. The natural rate of unemployment is the
    1. unemploymentratethatwouldprevailwithzeroinflation
    2. rateassociatedwiththehighestpossiblelevelof
    3. differencebetweenthelong-runandshort-rununemployment
    4. amountofunemploymentthattheeconomynormally
  9. Cyclical unemployment refers to
    1. theportionofunemploymentcreatedbyjob
    2. short-runfluctuationsaroundthenaturalrateofunemployment.
    3. changesinunemploymentduetochangesinthenaturalrateof
    4. theportionofunemploymentcreatedbywagessetabovetheequilibrium
  10. The Bureau of Labor Statistics is part of the S. Department of
    1. the
    2. theInterior
  11. Unemployment data are collected
    1. fromunemploymentinsurance
    2. througharegularsurveyofabout60,000
    3. througharegularsurveyofabout200,000
    4. Alloftheabovearecorrect
  12. The Bureau of Labor Statistics produces data on
    1. typesof
    2. lengthoftheaverage
    3. Alloftheaboveare
  13. The Bureau of Labor Statistics places people in the “employed” category if they
    1. aretemporarilyabsentfromtheir
    2. areself-employed.
    3. workwithoutpayinafamilymember’s
    4. Alloftheaboveare
  14. The labor force equals the
    1. numberofpeople
    2. numberofpeopleemployedplusthenumberofpeople
    3. numberofpeopleemployedplusthenumberofpeopleunemployedplusteenagersbetweenages14and16whoworkatleast10hoursa
    4. adult

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ECO 372 WEEK 2 Quiz