08 Jun Question QUESTION 1 If the nominal int
Question
QUESTION 1
If the nominal interest rate is zero, then the present discounted value of a sequence of future payments is:
zero
undefined
equal to the last of the payments
equal to the sum of all payments
equal to the square of the sum of all payments
0.2 points
QUESTION 2
Suppose the central bank pursues expansionary monetary policy. Such an action will cause:
the neutral or medium-run real interest rate to rise
the neutral real interest rate to fall
ambiguous effects on the neutral real interest rate
no effect on the neutral real interest rate
0.2 points
QUESTION 3
In the medium run, lower money growth is associated with:
lower real interest rates and lower nominal interest rates
lower real interest rates and higher nominal interest rates
higher real interest rates and higher nominal interest rates
higher real interest rates and lower nominal interest rates
none of the above
0.2 points
QUESTION 4
Which of the following can help explain the technology gap that exists between some countries?
poorly established property rights
political instability
the relative absence of entrepreneurs
all of the above
none of the above
0.2 points
QUESTION 5
Assume that the rate of depreciation is 10% per year, the population growth rate is 3% per year, and the growth rate of technology is 1% per year. Then annual growth rate of “effective labour” in this economy is:
1%
3%
4%
10%
14%
0.2 points
QUESTION 6
Which of the following represents a dimension of technological progress?
larger quantities of output for given quantities of capital and labour
better products
a larger variety of products
new products
all of the above
0.2 points
QUESTION 7
Assume that the rate of depreciation is 10% per year, the population growth rate is 3% per year, and the growth rate of technology is 1% per year. Then the level of investment needed to maintain constant capital per effective worker (K/AN) in this economy is:
0.01K
0.03K
0.04K
0.10K
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