Exam (elaborations)
MACRO EXO EXAM #2 QUESTIONS WITH CORRECT ANSWERS
- Course
- Institution
MACRO EXO EXAM #2 QUESTIONS WITH CORRECT ANSWERS
[Show more]
Content preview
MACRO EXO EXAM #2 QUESTIONSWITH CORRECT ANSWERS
A recent accounting graduate from a major business school is searching for a place to
begin his career as an accountant. This individual is best considered as
a)frictionally unemployed.
b)structurally unemployed.
c)seasonally unemployed.
d)cyclically unemployed. - Answer-A recent accounting graduate from a major business
school is searching for a place to begin his career as an accountant. This individual is
best considered as
frictionally unemployed.
The aggregate production function shows how ________ varies with ________.
labor; leisure time
real GDP; labor
leisure time; labor
labor; capital - Answer-The aggregate production function shows how ________ varies
with ________.
real GDP; labor
Technological change
lowers the real wage rate.
increases potential GDP.
decreases labor productivity.
has no effect on employment. - Answer-Technological change
increases potential GDP.
If the CPI is 120, this means that
a)prices are 120 percent higher than in the reference base period.
b)prices are 0.12 times higher than in the reference base period.
c)prices are 20 percent higher than in the reference base period.
d)the inflation rate must be positive. - Answer-If the CPI is 120, this means that
prices are 20 percent higher than in the reference base period.
Potential GDP per labor hour can increase due to
a)increases in the quantity of money.
b)increases in labor productivity.
c)decreases in the quantity of capital.
d)increases in population. - Answer-Potential GDP per labor hour can increase due to
b)increases in labor productivity.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller biggdreamer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now