Past Exam for ECON 2006 - Principles of Economics at Virginia Tech (VT)

Exam Information

Material Type:Exam 1
Class:ECON 2006 - Principles of Economics
University:Virginia Polytechnic Institute And State University
Term:Spring 2006
  • Decrease Increase
  • Gross Investment
  • Distinction
  • Stagflation
  • Net Investment
  • Aggregate Income
  • Utilization
  • Homogeneity
  • Underground Economy
  • Unemployment Benefits
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Sample Document Text

ECON 2006, SPRING 2006 CRN 15817 EXAM 1 MULTIPLE CHOICE. Choose the one alternative that best complete s the statement or answers the question. 1) Which of the following is NOT a transfer pa yment? A) Interest on corporate bonds B) Welfare pa yments C) Veterans' benefits D) Unemployment benefits E) Social Security benefits 2) An unanticipated reduction in inflation will A) benefit creditors. B) neither benefit nor hurt creditors. C) benefit debtors. D) hurt creditors. E) None of the above 3) The underground economy should be considered because A) the underground economy is the same size in all countries. B) unemployment is understated when it is considered. C) resource utilization is understated when it is considered. D) it is an overwhelming component of our economic system. E) it reflects economic activity not measured by GDP. 4) Deflation refers to A) short term price fluctuations. B) decreasing overall price level. C) a slowing of the inflation rate. D) that part of the economy...

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