Exam#1 Essay

324 words - 2 pages

Macro Midterm Exam #1

1 List the two key differences between microeconomics and macroeconomics.

2 List the two key characteristics of the scientific method.

3 List the three differences between GDP deflator and CPI.

4 Why neither CPI nor GDP deflator measures the changes in the cost of living accurately?

5 Write a Cobb−Douglas production function for which capital earns 1/3 of total income, and show its profit in a competitive market.

6 Show in a diagram to explain what ...view middle of the document...

7 Suppose the productivity of farmer increases faster than the productivity of barber does, and suppose workers can move freely between being farmers and being barbers. What does this mobility imply for the price of haircuts relative to the price of food?

8 Why might a banking crisis lead to a decrease in the money multiplier?

9 Suppose the velocity of money in an economy is growing steadily because of financial innovation, how would that affect the inflation rate? Explain it with the quantity equation.

10 Explain the connection between the nominal exchange rate and the real exchange rate.

11 What will happen to the trade balance and the real exchange rate of a small open economy when government purchases increase? Show them in diagrams.

12 Suppose that in scenario A the Fed cares only about keeping the price level stable and in scenario B the Fed cares only about keeping output and employment at their natural levels. Now suppose an introduction of automatic tell machine, explain how in each scenario the Fed would respond to it.

13 Draw the diagram of the theory of liquidity preference, and tell which variable is endogenous, which variables are fixed?

14 List the three corners of the impossible trinity.

15 There are two theories of aggregate supply. What do the two theories have in common?

Other Papers Like Exam#1

ACC 291 Week 5 Final Exam 1

3855 words - 16 pages ACC 291 Week 5 Final Exam 1 Product Description ACC 291 Sample Final Exam Question 207 On January 1, a machine with a useful life of five years and a residual value of $40,000 was purchased for $120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation? IFRS Multiple Choice Question 01 As a recent graduate of State University you're aware that IFRS requires component

A215 Exam 1 Essay

3810 words - 16 pages .  Organismal Level: Organism: has several organ systems which work together to maintain life III. PLANES OF REFERENCE & DESCRIPTIVE TERMINOLOGY A. Anatomical Position: upright, feet parallel, eyes & palms forward B.  Planes of Reference: Imaginary lines or actual dissecting cuts (sections) which may be used to "section" the body or an organ. 1. Sagittal: divides the body or organ into unequal right and left portions. a. Midsagittal

Mis Exam 1

2181 words - 9 pages 1. * Three authentication methods are passwords, token and biometric authentication. Authentication refers to the ability to know a person who they say they are; therefore, these forms of methods help verify that. Using a password is often used which is only known by the authorized users. A token is a physical device, similar to an ID that that is made to prove the identity of a user. Biometric authentication method is a method that

Exam Essay 1 Micro

1186 words - 5 pages Question 1 answer: Koch's postulates are a series of ground rules to determine whether a given organism can cause a given disease. , who developed a logical series of observations and experiments (Koch’s postulates) that proved the specific element of many infectious diseases, starting with anthrax. The series of steps worked out by Koch and others has become known as Koch’s postulates. He completed the famous postulates with anthrax. We instead

Acc 290 Weeks 1-5 Assignments Wileyplus Assignment and Final Exam

2746 words - 11 pages ACC 290 Week 1 Assignment WileyPLUS Assignment Click Assignment: Week 1 Assignment within WileyPLUS to complete the following exercises: DO IT! 1-3 Exercise 1-3 Exercise 1-4 Exercise Excel E 2-4 IFRS 2-4 Resource: WileyPLUS Click Assignment: Week 1 Assignment within WileyPLUS to complete the following exercises: DO IT! Review 1-3 Exercise 1-3 Exercise 1-4 Exercise 2-4

Juvenile Delinquency Final Exam 1-24

740 words - 3 pages 1) Roper vs Simmons: Supreme Court ruled “the standards of decency have evolved so that executing minors is considered cruel and unusual punishment”. Graham v. Florida that holds life without parole sentences for juveniles convicted of non-homicide offenses unconstitutional. Sullivan vs Florida is similar to Graham vs Florida. Conflicts with the Eighth Amendment. 2) Risky Shift effect: the phenomenon that when placed in group situations

Answers Comm217 Exam Ch. 1-4

615 words - 3 pages Review Chapters 1-4 Solutions Requirement 1 a) Unearned sales revenue ……………………………….. 2,400 Sales revenue …………………………………………. 2,400 COGS ………………………………………………….. 1,500 Inventory ………………………………………………. 1,500 b) Insurance Exp ………………………………………… 750* Prepaid Ins Exp ……………………………………….. *Calculation: 1800*5/12=750 c) Depreciation Exp …………………………………….. Acc Depreciation …………………………………….. *Calculation=( 72,800-3,800)/5=13,800 13,800 13,800 750 d) Supplies exp

Bus/475 Final Exam Part 1 2016

1440 words - 6 pages 1. Article 6 of the Treaty on European Union, called the Maastricht Treaty, states the EU is “founded” on: • rule of law 2. Which of the following is the path through which contractionary monetary policy works? • • Money down implies interest rate up implies investment down implies income down 3. Marketing research refers to__________. • the process of defining a marketing problem and opportunity, systematically collecting and


1796 words - 8 pages including Excel 2013; and MIS 3 – Word Processing and Presentation Graphics including Word 2013 and PowerPoint 2013 OR pass the online hands-on challenge exams for MIS 1, MIS 2 and MIS 3. Click the following link for more information about the online hands-on challenge exams for MIS 1, MIS 2 and MIS 3. Information for MIS 1, MIS 2 and MIS 3 Challenge Exams MIS 123 CHALLENGE EXAM SCHDULE |Exam Date |Exam Date

Good Luck

290 words - 2 pages Information about the ECO2IBE mid-semester exam, 2012 When is it? Tuesday 17th April Time: 1:10pm (start reading time, no writing) 1:20pm (start writing) 2:20PM (finish writing) Under no circumstances will students be allowed to take the mid-semester exam at another time or on another day. Where is it? Union Hall How long does it go for? 1 hour of writing time (10 mins of reading time) What is it


1255 words - 6 pages NETW-310 Final Exam Study Guide YOU MAY WANT TO PRINT THIS GUIDE. 1. The Final Exam is open book, open notes. The maximum time you can spend in the exam is 3 hours, 30 minutes. If you have not clicked the Submit for Grading button by then, you will be automatically exited from the exam. In the Final Exam environment, the Windows clipboard is disabled, so you will not be able to copy exam questions or answers to or from other applications. 2

Related Essays

Marketing Exam 1 Essay

1695 words - 7 pages MGM 301- Exam #1 Study Guide Chapter 1- Creating Customer Relationships and Value Through Marketing Marketing: the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, it’s stakeholders, and society at large - more broad than advertising and selling - stresses the importance of delivering genuine benefits to customers To serve buyers and sellers, marketing needs to: 1

Exam Version 1 Essay

1900 words - 8 pages Edgar A. Ghossoub ECO2013 Fall 2011 Exam I Version A: Duration: 75 minutes. You must use a SCANTRON answer sheet to record your responses and you may use a simple basic calculator. You may not keep this test when you are finished. 1. If the GDP is $20,000 and investment spending is $8000, consumer spending is $9000 and net export is $1000. What is the Government Spending for this period? a. $10000 b. $8000 c. $2000 d. $‐10,000 Ans

Fundamentals Of Selling Exam 1 Essay

1330 words - 6 pages FUNDAMENTALS OF SELLING - 2009FA (MKT12380-2009FA) > TAKE ASSESSMENT: MODULE 1 EXAM CHAPTERS 1, 2 & 3 1. What is the traditional definition for personal selling? How does the traditional definition differ from the new one in the text? The traditional definition of personal selling is the concept of personal communication of information in hopes of persuading a prospective customer to buy a good, service, idea, or anything that

Sociology 5618 Exam 1 Review

2627 words - 11 pages SOCIOLOGY 5618 EXAM 1 REVIEW INTRO + CH. 2 HISTORY OF POLICING Survey Research Perceived Top Problems Facing Profession 3 Key Problems of Profession: 1. Accountability 2. Racism 3. Excessive Force Reasons for Entering Law Enforcement 1. Nature of the Job: helping people and bettering communities, exciting career path, doing something different every