most missed questions ECO 202
Evan purchases a wall calendar for $9, and his consumer surplus is $1. How much is Evan willing to pay for the wall calendar?
$10
Figure 30-2 In the graph, MS represents the money supply and MD represents money demand. The vertical axis is the value of money measured as 1/P and the horizontal axis is the quantity of money. If the relevant money-demand curve is the one labeled MD2, then the equilibrium value of money is
0.61 and the equilibrium price level is 1.6.
The steps involved in calculating the consumer price index and the inflation rate, in order, are as follows:
Fix the basket, find the prices, compute the basket's cost, choose a base year and compute the index, and compute the inflation rate
Which of the following countries has had the greatest growth rate of real GDP per person within the last 10 years?
Germany
Which of the following statements accurately describes catch-up growth?
In one generation, China will be one of the richest countries in the world, if China's GDP per person continues to grow 9% per year.
Which of the following is an example of a nonrenewable resource?
Livestock
Which of the following is correct?
Nominal and real interest rates do not always move together
From 1960 to 1990, in which of the following countries has investment resulted in economic growth sufficiently higher than that in the United States?
South Korea
When the consumer price index falls, the typical family
can spend fewer dollars to maintain the same standard of living
Which of the following increases when the Fed makes open-market sales?
either currency nor reserves
Figure 32-3 Refer to the following diagram of the open-economy macroeconomic model to answer the questions that follow. Refer to Figure 32-3. National saving is represented by the
supply curve in graph (a)
In the open-economy macroeconomic model, the market for loanable funds equates national saving with
the sum of domestic investment and net capital outflow
Refer to Table 5-3. Using the midpoint method, the income elasticity of demand for good Y is
−2.33, and good Y is an inferior good
