ECO 372 ( Principles of Macroeconomics ) Final Exam Guide
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1. The market where business sell goods and services to households and the government is called
2. Real gross domestic product is best defined as
3. underemployment includes
4. .The bureau of economic analysis is responsible for which of the following
5. The federal reserve provides which of the following data
6. Consider if the government instituted a 10% income tax surcharge. In terms of the AS/AD model this change should have
7. The largest source of household income is in the U.S. is obtained
8. If the depreciation of a country’s currency increases it aggregate expenditures by 20, the AD curve will
9. Aggregate demand management policies are designed most directly to
10. Suppose that consumer spending is expected to decrease in the near future. If output is at potential output, which of the following policies is most appropriate according to the AS/AD model
11. According to Keynes, market economies
12. The laissez-faire policy prescription to eliminate unemployment was to
13. In the AS/AD model, an expansionary monetary policy has the greatest effect on the price level when it
14. The Federal funds rate
15. What tool of monetary policy will the Federal Reserve use to increase the federal funds rate from 1% to 1.25%?
16. If the Federal Reserve increases the required reserves, financial institutions will likely lend out
17. Suppose the money multiplier in the U.S. is 3. Suppose further that if the Federal Reserve changes the discount rate by 1 percentage point, banks change their reserves by 300. To increase the money supply by 2700 the Federal Reserve should
18. If the Federal Reserve reduced its reserve requirement from 6.5 percent to 5 percent. This policy would most likely
19. A country can have a trade deficit as long...