Answered: 1)Mcq 1.the economy as whole saving…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1)Mcq 1.the economy as whole saving must be equal to a.expenditure b.budget c.public saving d.investement 2.________ economy is one that does not interact with other economies a.stagnant growth b.small c.closed d.open 3.________ is an institution that sales shares to the public and uses the proceeds to buy a selection a.mutual fund b.stock c.bank d.central bank 4.can economy increase its real gdp per capita by Putting more of the population to work ? a.yes b.no c.depends on size of the economy d.depends on size of the number of population 5.________ is the economist's term for knowledge and skills that workers acquire through education, training, and experience. a.skilled labor b.work force c.labor d.human capital 6.________economy interact with other economies around the world a.closed b.open c.large d.growing 7.if the real value of household assets falls the aggregate demand a.decreases b.increases c.remains constant d.no one of the above 8.if the economy in recession we would expect ? a.increase subsidies and decrease taxes b.decrease subsidies and increase taxes c.the government doesn't intervene d.increase subsidies and increase taxes 9._______ is a very deep and prolonged downturn a.recession b.expansion c.conteraction d.depression 10.the result of the difference of real and nominal gdp the interest rate is ? a.the effect of inflation b.the effect of deflation c.the effect of hyperinflation d.has no effect 2) True and false 1.if the central bank increases the quantity of money the aggregate demand increases ? 2.taxes are the most important source of income of a government ? 3.closed economy can interact with other economies? 4.if consumers and firms become more pessimistic the aggregate demand increases ? 5.monetary policy is related to central bank? 3). At equilibrium if the aggregate consumption = 200(C) and planned investment (I)= 50 calculate the Aggregate expenditure 4) write an essay about the difference between closed economy and opened economy .

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