Concordia University or college
Department of Economics
ECON 303/2BB: More advanced Macroeconomic Theory I
Midterm exam #1, October 12-15, 2013
Trainer: Yves Tehou
STUDENT NAME___________________________________________________ STUDENT IDENTITY ____________________________
Guidance: There are a total of 25 points. The exam has two sections: multiple-choices and brief problems. The multiple-choice section is worth 12-15 points, and the short challenges section will probably be worth 10 points. For the qmc (question multiple choice ) questions, circle ONE response for each problem. For short problems, all answers should be clearly produced.
I- Multiple choices (15 points)
1- Primarily, macroeconomists use microeconomic principles to analyze A) organization cycles and trends inside the stock market.
B) long-run economical growth and antitrust plans.
C) tendencies in the stock market and long term economic growth. D) long-run economic development and organization cycles.
2- The relationship between your level of growth of an economic changing, gt, as well as its level, yt, is best estimated as
A) gt =
B) gt sama dengan log yt - log yt-1.
C) yt sama dengan log gt - sign gt-1.
D) log grand touring = yt - yt-1.
3- Anny Brown creates and sells $1100 worth of plants. She uses no more advanced inputs. Your woman pays his workers $700 in wages, pays hundred buck in income taxes and compensates $200 in interest on a loan. Anny's contribution to GDP is
B) 1000 dollar.
4- A furniture machine used to purchase its solid wood, but has bought the lumber business. How does this impact GROSS DOMESTIC PRODUCT?
A) It reduces it.
B) It does not alter.
C) This increases it.
D) We all cannot inform.
5- Suppose that the government gathers $3 million in taxation, pays $2 million in social protection benefits, will pay $0. 5 million in interest for the national debt, and pays off workers $1,000,000 to to use their desks and are little as it can be. The government's contribution to GDP can be
B) $1 million.
C) $3 million.
D) $3. 5 million.
6- The spending components of GDP include each of the following besides A) consumption.
C) net exports.
D) net factor payments.
7- The income-expenditure identity is better paraphrased because
A) all spending builds income.
B) all revenue are used for purchase spending.
C) on average, customers cannot conserve.
D) usually, government can spend a maximum of what it gathers in income taxes.
8- Suppose that the THE CAR plant working in london, ON, produces $10 million worth of vehicles in a given year. Of this total amount, $1 million in income are returned to the owners of the firm in Australia. The $1 million in earnings
A) contributes to both Canadian GDP and Canadian GNP.
B) leads to Canadian GNP, but not Canadian GDP.
C) contributes to Canadian GDP, but is not Canadian GNP.
D) plays a role in neither Canadian GDP, neither Canadian GNP.
9- The frequency in the business routine refers to
A) how varying it is.
B) how large the deviations by trend are.
C) how much time a circuit lasts.
D) how much that leads or lags.
10- The property that macroeconomic factors fluctuate collectively in patterns that exhibit strong regularities is called
11- When a macroeconomic get worse is procyclical
A) this grows more quickly than GROSS DOMESTIC PRODUCT.
B) their deviations from trend generally change prior to the deviations by trend in GDP carry out.
C) it is deviations from trend generally change even more that the deviations from tendency in GDP.
D) it is deviations coming from trend are definitely more often of the identical sign since the deviations from craze in GDP.
12- A lagging variable can be identified by the fact that
A) the persistence is definitely smaller than those of GDP.
B) its turning points happen before the turning points of GDP.
C) the turning parts of GDP happen before their turning factors. D) the persistence can be larger than those of GDP.
13- A utility function
A) has to measure the overall level of happiness.
B) needs to measure comparative...