FINA 6402 Final 2024 Questions & Answers |
100% Correct | Verified
Which of the following topics are more likely to be studied by a macroeconomist than by a
microeconomist? - ✔✔a)the effect of taxes on the prices of airline tickets, and the profitability of
automobile-manufacturing firms
b)the price of beef, and wage differences between genders
c)how consumers maximize utility, and how prices are established in markets for agricultural products
D)the percentage of the labor force that is out of work, and differences in average income from country
to country
D
Which of the following statements about GDP is correct? - ✔✔a) GDP measures two things at once: the
total income of everyone in the economy and the total expenditure on the economy's output of goods
and services.
b)Money continuously flows from households to firms and then back to households, and GDP measures
this flow of money.
c)GDP is generally regarded as the best single measure of a society's economic well-being.
D)All of the above are correct.
D
Sheri, a U.S. citizen, works only in Germany. The value she adds to production in Germany is included -
✔✔a)in both German GDP and U.S. GDP.
b)in German GDP, but is not included in U.S. GDP.
C)in U.S. GDP, but is not included in German GDP.
d)in neither German GDP nor U.S. GDP.
B
, When a U.S. citizen buys $500 of Chinese-made parts for a motorcycle, - ✔✔a)U.S. consumption falls by
$500, U.S. net exports decline by $500, and U.S. GDP declines by $1000.
b)U.S. consumption does not change, U.S. net exports decline by $500, and U.S. GDP declines by $500.
c)U.S. consumption increases by $500, U.S. net exports remain the same, and U.S. GDP increases by
$500.
d)U.S. consumption increases by $500, U.S. net exports decline by $500, and U.S. GDP remains the same.
D
Refer to Table 23-6. This country's inflation rate from 2010 to 2011 was - ✔✔38.2%
The consumer price index is used to - ✔✔a)monitor changes in the level of wholesale prices in the
economy.
b)monitor changes in the cost of living over time.
c)monitor changes in the level of real GDP over time.
D)monitor changes in the stock market.
B
The table below pertains to Pieway, an economy in which the typical consumer's basket consists of 15
bushels of peaches and 10 bushels of pecans.
Year
Price ofPeaches
Price ofPecans
2012
$11 per bushel
$6 per bushel
2013
$9 per bushel
100% Correct | Verified
Which of the following topics are more likely to be studied by a macroeconomist than by a
microeconomist? - ✔✔a)the effect of taxes on the prices of airline tickets, and the profitability of
automobile-manufacturing firms
b)the price of beef, and wage differences between genders
c)how consumers maximize utility, and how prices are established in markets for agricultural products
D)the percentage of the labor force that is out of work, and differences in average income from country
to country
D
Which of the following statements about GDP is correct? - ✔✔a) GDP measures two things at once: the
total income of everyone in the economy and the total expenditure on the economy's output of goods
and services.
b)Money continuously flows from households to firms and then back to households, and GDP measures
this flow of money.
c)GDP is generally regarded as the best single measure of a society's economic well-being.
D)All of the above are correct.
D
Sheri, a U.S. citizen, works only in Germany. The value she adds to production in Germany is included -
✔✔a)in both German GDP and U.S. GDP.
b)in German GDP, but is not included in U.S. GDP.
C)in U.S. GDP, but is not included in German GDP.
d)in neither German GDP nor U.S. GDP.
B
, When a U.S. citizen buys $500 of Chinese-made parts for a motorcycle, - ✔✔a)U.S. consumption falls by
$500, U.S. net exports decline by $500, and U.S. GDP declines by $1000.
b)U.S. consumption does not change, U.S. net exports decline by $500, and U.S. GDP declines by $500.
c)U.S. consumption increases by $500, U.S. net exports remain the same, and U.S. GDP increases by
$500.
d)U.S. consumption increases by $500, U.S. net exports decline by $500, and U.S. GDP remains the same.
D
Refer to Table 23-6. This country's inflation rate from 2010 to 2011 was - ✔✔38.2%
The consumer price index is used to - ✔✔a)monitor changes in the level of wholesale prices in the
economy.
b)monitor changes in the cost of living over time.
c)monitor changes in the level of real GDP over time.
D)monitor changes in the stock market.
B
The table below pertains to Pieway, an economy in which the typical consumer's basket consists of 15
bushels of peaches and 10 bushels of pecans.
Year
Price ofPeaches
Price ofPecans
2012
$11 per bushel
$6 per bushel
2013
$9 per bushel
