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1、MultipleChoice:Answeralloftheseonyourscantronform.(2pointseach)1.Allofthefollowingaretypesofmacroeconomicsdataexceptthe:A)priceofanIBMcomputer.B)growthrateofrealGDP.C)inflationrate.D)unemploymentrate・2.Atypicaltrendduringarecessionisthat:A)theunemploymentratefalls
2、.B)thepopularityoftheincumbentpresidentrises.C)incomesfalLD)theinflationraterises.3.Whenafirmsellsaproductoutofinventory,investmentexpendituresandconsumptionexpenditures.A)increase;decreaseB)decrease;increaseC)decrease;remainunchangedD)remainunchanged;increaseJEK4
3、.Refertothefigureabove・TheGoldenRulelevelofsteady-stateconsumptionperworkeris:A)ACC)BCB)ABD)DE5.NominalGDPmeansthevalueofgoodsandservicesismeasuredinprices.A)cunentC)constantB)realD)average1.Assumethatabakeryhiresmoreworkersandpaysthemwagesandthattheworkersproduce
4、morebread・GDPincreasesinallofthefollowingcasesexceptwhenthebread:A)issoldtohouseholds・B)isstoredawayforlatersale.C)growsstaleandisthrownaway.D)issoldtootherfirms.2.IfK=厶°・5andA,K,andLareall100,themarginalproductionofcapitalis:A)50C)200B)100D)10008.Exhibit:TheCapit
5、al-LaborRatioInthisgraph,startingfromcapital-laborratiok],thecapital-laborratiowill:A)decrease・B)remainconstant.C)increase.D)firstdecreaseandthenremainconstant.9.Inexaminingtheimpactoffiscalpolicy,itisassumedthat:A)consumption,investment,andtheinterestrateareendog
6、enousvariables・B)consumption,investment,andtheinterestrateareexogenousvariables・C)governmentpurchases,taxes,andinterestratesareendogenousvariables・D)governmentpurchases,taxes,andinterestratesareexogenousvariables・10.Ifgovernmentpurchasesexceedtaxesminustransferpay
7、ments,thenthegovernmentbudgetis:A)balanced・B)indeficit.C)insurplus.D)endogenous・11.TheproductionfunctionfeaturecalledMconstantreturnstoscale11meansthatifwe:A)multiplycapitalbyzjandlaborby轨、wemultiplyoutputby込3.B)increasecapitalandlaborby10percenteach,weincreaseout
8、putby10percent.C)increasecapitalandlaborby5percenteach,weincreaseoutputby10percent.A)increasecapitalby10percentandincreaselaborby5percent,weincreaseoutp
