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Past Exam for ECN 001B - Princ Of Macroecon with Modjtahedi at UC Davis (UCD)

Exam Information

Material Type:Mid-Term
Professor:Modjtahedi
Class:ECN 001B - Princ Of Macroecon
Subject:Economics
University:University of California - Davis
Term:Winter 2011
Keywords:
  • Reserve Ratio
  • Required Reserve Ratio
  • Speculative Bubble
  • Consumption
  • None of the Above
  • Printing Money
  • Crowding In
  • Unit of Account
  • Simple Money Multiplier
  • Classical Theory
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Sample Document Text

Page 1 of 11 University of California, Davis Department of Economics ECN 1B Midterm Examination 2 Winter 2011 B. Modjtahedi ______________________________________________________________________________ Question 1 Concerning the effect of the Economic Stimulus Act 0f 2008, the recent U.S. data on real personal consumption expenditure and real disposable income is consistent with which of the following statements? A. They support the Keynesian consumption theory by showing a strong positive relationship between income and consumption. B. They support both the life-cycle and the permanent-income theories of consumption by showing that a permanent increase in income has a strong effect on consumption. C. They reject both the life-cycle and the permanent-income theories of consumption by showing that a transitory increase in income has a strong effect on consumption. D. They reject the life-cycle theory of consumption by showing that ...

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