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

Exam Information

Material Type:Exam 2
Class:ECN 001B - Princ Of Macroecon
University:University of California - Davis
Term:Spring 2005
  • Budget Deficit
  • Structural Deficit
  • The Economy
  • Cyclical Deficit
  • Balanced Budget Multiplier
  • Equilibrium Level
  • Balanced Budget
  • Budget Surplus
  • Government Purchases
  • Consumption Function
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Sample Document Text

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Based on the terminology used by economists, A) investment represents the purchase of assets such as a mutual fund. B) an investment is not something that is used to create value in the future. C) investment refers to the creation of capital stock. D) firms invest when they sell off their inventories. 2) In a closed economy with no government, equilibrium in the goods market occurs at that point A) where S = I. B) where Y = C. C) at which actual aggregate expenditure is greater than aggregate output. D) at which actual aggregate expenditure is less than aggregate output. Refer to Scenario 1 below to answer the questions that follow. SCENARIO 1: Assume that a consumption function is C = 200 + .8Y. 3) Refer to Scenario 1. The value of the point at which the consumption function intersects the C axis is A) 200. B) 300. C) 400. D) 500. ...

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