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6. Which of the following does NOT increase labour productivity?
Select one:
A. an increase in capital
B. a discovery of new technologies
C. an increase in aggregate hours
D. an investment in human capital
7. Which theory of economic growth concludes that growth can continue indefinitely?
A. The classical growth theory
B. The neoclassical growth theory
C. The new growth theory
D. All of the theorie
Select one:
A. an increase in capital
B. a discovery of new technologies
C. an increase in aggregate hours
D. an investment in human capital
7. Which theory of economic growth concludes that growth can continue indefinitely?
A. The classical growth theory
B. The neoclassical growth theory
C. The new growth theory
D. All of the theorie
5. The commodity substitution bias reflects the point that
Select one:
A. consumers often substitute high-quality goods for low-quality goods.
B. prices of goods and services sold by some retailers are higher than the prices of the same
goods and services when sold by other retailers.
C. consumers decrease the quantity they buy of goods whose relative prices rise and increase the
quantity of goods whose relative price falls.
D. government expenditure is a good substitute for investment expenditure.
Select one:
A. consumers often substitute high-quality goods for low-quality goods.
B. prices of goods and services sold by some retailers are higher than the prices of the same
goods and services when sold by other retailers.
C. consumers decrease the quantity they buy of goods whose relative prices rise and increase the
quantity of goods whose relative price falls.
D. government expenditure is a good substitute for investment expenditure.
4. Who of the following is structurally unemployed?
Select one:
A. Eugene, a steelworker who was laid off but has stopped looking for a new job because the
economy is in a recession and he thinks he won’t be able to find a job.
B. Omar, a fishery worker who left his job to search for a better job closer to home.
C. Cara, who lost her job because of foreign competition and is unemployed until retrained.
D. Amanda, an office worker who lost her job because of a slowdown in economic activity.
Select one:
A. Eugene, a steelworker who was laid off but has stopped looking for a new job because the
economy is in a recession and he thinks he won’t be able to find a job.
B. Omar, a fishery worker who left his job to search for a better job closer to home.
C. Cara, who lost her job because of foreign competition and is unemployed until retrained.
D. Amanda, an office worker who lost her job because of a slowdown in economic activity.
1. Which of the following question is an illustration of a macroeconomic question?
A. Is the quantity of wine purchased in one year dependent upon the price of wine?
B. Is the level of employment in the economy sensitive to the quantity of consumer spending?
C. Is a consumer boycott an effective means of reducing product prices?
D. Are oil companies engaging in a rip-off of the consumer by charging exorbitantly high prices
for gasoline?
2. Which of the following is NOT part of the definition of GDP?
A. GDP includes intermediate goods
B. GDP uses the market value
C. GDP includes production within a country
D. GDP is measured over a given time period
3. Nominal GDP differs from real GDP because:
A. Nominal GDP is based on constant prices
B. Real GDP is based on current prices
C. Nominal GDP is adjusted for changes in the price level
D. Real GDP is adjusted for the changes in the price level
A. Is the quantity of wine purchased in one year dependent upon the price of wine?
B. Is the level of employment in the economy sensitive to the quantity of consumer spending?
C. Is a consumer boycott an effective means of reducing product prices?
D. Are oil companies engaging in a rip-off of the consumer by charging exorbitantly high prices
for gasoline?
2. Which of the following is NOT part of the definition of GDP?
A. GDP includes intermediate goods
B. GDP uses the market value
C. GDP includes production within a country
D. GDP is measured over a given time period
3. Nominal GDP differs from real GDP because:
A. Nominal GDP is based on constant prices
B. Real GDP is based on current prices
C. Nominal GDP is adjusted for changes in the price level
D. Real GDP is adjusted for the changes in the price level
Suppose that Calloway golf would like to capitalize on Phil Michelson winning the Open Championship in 2013 by releasing a new putter. The new product will require new equipment for $421,075.00 that will be depreciated using the 5-year MACRS schedule. The project will run for 2 years with the following forecasted numbers:
Year 1 Year 2
Putter price $64.57 $64.57
Units sold 18,834.00 10,381.00
COGS 42.00% of sales 42.00% of sales
Selling and Administrative 21.00% of sales 21.00% of sales
Calloway has a 14.00% cost of capital and a 39.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $148,698.00.
What is the project cash flow for year 2? (include the terminal cash flow here)
Answer Format: Currency: Round to: 2 decimal places.
Year 1 Year 2
Putter price $64.57 $64.57
Units sold 18,834.00 10,381.00
COGS 42.00% of sales 42.00% of sales
Selling and Administrative 21.00% of sales 21.00% of sales
Calloway has a 14.00% cost of capital and a 39.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $148,698.00.
What is the project cash flow for year 2? (include the terminal cash flow here)
Answer Format: Currency: Round to: 2 decimal places.
Suppose the population over 15 is 20 million, the labour force Participation rate is 60%, and the unemployment rate is 5%. If the labour force grows by 3% and employment grows by 2%, what does the unemployment rate become?
Compare and contrast the three approaches to calculate GDP
What were the Keynesian's attack on the quantity theory of money
explain the crude quantity theory of money with their equation P=aM
USA Canada
oranges salmonberries oranges salmonberries
12 0 6 0
3 3 3 3
0 4 0 6
a. Which country has the comparative advantage in producing salmonberries? Which one has the comparative advantage in producing oranges? Explain.
b. Suppose that each country is currently producing 3 thousand bushels of salmonberries and 3 thousand bushels of oranges. Show that both can be better off if they specialize in producing one good and then engage in trade.
oranges salmonberries oranges salmonberries
12 0 6 0
3 3 3 3
0 4 0 6
a. Which country has the comparative advantage in producing salmonberries? Which one has the comparative advantage in producing oranges? Explain.
b. Suppose that each country is currently producing 3 thousand bushels of salmonberries and 3 thousand bushels of oranges. Show that both can be better off if they specialize in producing one good and then engage in trade.
