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

Exam Information

Material Type:Exam 1
Professor:Charalambous
Class:ECON 2006 - Principles of Economics
Subject:Economics
University:Virginia Polytechnic Institute And State University
Term:Fall 2006
Keywords:
  • Memorial Day Weekend
  • The Economy
  • Provided That
  • Business Firm
  • Stockbroker
  • Stagflation
  • Combination
  • Unemployment Rate
  • Nondurable Goods
  • Generations
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Sample Document Text

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) In a business cycle, a peak represents the end of __________ and a trough represents the end of __________. 1) _______ A) a depression; an expansion B) an expansion; a recession C) a trough; a peak D) a recession; an expansion 2) If depreciation equals to zero and indirect taxes equal to $5 billion, then 2) _______ A) Net national product is less than GNP by $5 billion. B) GNP equals net national product. C) GNP is greater than GDP by $5 billion. D) GNP is less than net national product by $5 billion. 3) Which of the following would be an example of fine tuning? 3) _______ A) The federal government enacts legislation to increase spending to try to stimulate the economy. B) Firms increase employment benefits to increase workers' productivity. C) Firms increase wages to attract high-quality workers. D) The federal government passes legislation that would require that the government's budget always be balanc...

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