03 Jun Question Final Review A person who studies macroeconomics encou
Question
Final Review
A person who studies macroeconomics encounters many different types of growth
rates. One of these growth rates of the value of a price index. This type of growth
rate is called an
a. economic growth rate
b. exchange rate
c. inflation rate
d. interest rate
A component of GDP that tends to change very drastically during economic
recessions, and is often responsible for most of the severity of a recession, is
a. Consumption
b. Investment
c. Government purchases
d. Exports
e. Imports
According to the National Bureau of Economic Research, the most recent U.S.
recession began near the end of 2007. Since the preceding recession ended near
the end of 2001, there were six years between these two recessions. Based on
economic data from the last 40 years, this interval between recessions is _______.
a. Much shorter than average
b. Fairly close to the average
c. Much longer than the average
d. A record: its the longest interval the US economy has had between
recessions
e. A record: its the shortest interval the US economy has had between
recessions
In the U.S economy, the demand for loanable funds comes mostly from _______,
who use these funds mostly to finance
a. Households, home purchases.
b. Firms, investment spending
c. Units of government, their budget deficits
d. Households, purchases of consumer durable goods
e. Firms, fringe benefits payments
A bank made a loan to a manufacturing firm, in dollars. The loan had a fixed
nominal interest rate of 5 percent. The average annual inflation rate over the term
of the loan turned out to be 2 percent. Which of the following statements about
this loan is correct?
a. Over the term of this loan, the purchasing power of a dollar fell at an
average rate of approximately 3% per year.
b. The average annual growth rate of the real value of the dollars repaid,
relative to the real value of the dollars lent, was approximately 3 percent
c. The real interest rate on the loan turned out to be approximately 7 %.
d. If the bank had expected the average annual inflation rate, over the loans
term, to turn out to be 3%, then it was disappointed with the loans
outcome.
6.
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