ECON 3303 FINAL EXAM QUESTIONS
WITH CORRECT ANSWERS
Well-developed and properly functioning financial markets promote | | | | | |
A. Economic Growth
| |
B. Price Stability
| |
C. Consumer Well-Being
| |
D. All of the Above
| | | |
E. Only A & C - CORRECT ANSWER✔✔-E. Only A & C
| | | | | | | | | | |
In the Circular Flow Model, we identified
| | | | | | |
A. Firms as economic agents. supplying economic resources in the
| | | | | | | | | |
economy
B. Financial markets as the place where goods & services are bought
| | | | | | | | | | | |
and sold
|
C. Three major economic agents & four major types of markets
| | | | | | | | | |
D. All of the Above
| | | |
E. None of the above - CORRECT ANSWER✔✔-E. None of the above
| | | | | | | | | | |
,Please identify which of the below represents a market price?
| | | | | | | | |
A. $6.50 price on a label tag glued to a container with a gallon of milk at
| | | | | | | | | | | | | | | | |
your local grocery store
| | |
B. $35K Dealer is asking for a brand new 2017 Honda Civic
| | | | | | | | | | | |
C. $359k counter offer of a potential house buyer in response to the
| | | | | | | | | | | | |
original $380K price asked for by the current house seller
| | | | | | | | |
D. $100 a drug addict just handed over to a drug dealer in exchange for
| | | | | | | | | | | | | | |
a dose of illegal drugs
| | | |
E. None of the above - CORRECT ANSWER✔✔-D. $100 a drug addict just
| | | | | | | | | | | |
handed over to a drug dealer in exchange for a dose of illiegal drugs
| | | | | | | | | | | | | |
Based on the below provided quarterly values please estimate an
| | | | | | | | | |
annual rate of change in the US output is
| | | | | | | | |
A. 0.63%|
B. 1.22%|
C. 2.46%|
D. 2.53%|
E. 4.89 - CORRECT ANSWER✔✔-D. 2.53%
| | | | | |
, (Q4-Q3/Q3)
In the circular flow model we distinguished the following economic
| | | | | | | | | |
agents
A. Households
|
B. Corporations
|
C. Governments
| |
D. All of the above
| | | |
E. Only A & C - CORRECT ANSWER✔✔-E. Only A & C
| | | | | | | | | | |
In our lecture discussions we concluded that - CORRECT ANSWER✔✔-In
| | | | | | | | | |
macroeconmics we referred to a difference between goods produced | | | | | | | | |
and goods sold as an inventory investment
| | | | | |
Which of the following will have a bigger impact on a change in the
| | | | | | | | | | | | | |
current year's Real GDP, ceteris paribus
| | | | |
A. A Sale of already existing home
| | | | | |
B. A sale of a newly produced home
| | | | | | |
C. No difference between A & B
| | | | | |
D. Can't be answered
| | | |
WITH CORRECT ANSWERS
Well-developed and properly functioning financial markets promote | | | | | |
A. Economic Growth
| |
B. Price Stability
| |
C. Consumer Well-Being
| |
D. All of the Above
| | | |
E. Only A & C - CORRECT ANSWER✔✔-E. Only A & C
| | | | | | | | | | |
In the Circular Flow Model, we identified
| | | | | | |
A. Firms as economic agents. supplying economic resources in the
| | | | | | | | | |
economy
B. Financial markets as the place where goods & services are bought
| | | | | | | | | | | |
and sold
|
C. Three major economic agents & four major types of markets
| | | | | | | | | |
D. All of the Above
| | | |
E. None of the above - CORRECT ANSWER✔✔-E. None of the above
| | | | | | | | | | |
,Please identify which of the below represents a market price?
| | | | | | | | |
A. $6.50 price on a label tag glued to a container with a gallon of milk at
| | | | | | | | | | | | | | | | |
your local grocery store
| | |
B. $35K Dealer is asking for a brand new 2017 Honda Civic
| | | | | | | | | | | |
C. $359k counter offer of a potential house buyer in response to the
| | | | | | | | | | | | |
original $380K price asked for by the current house seller
| | | | | | | | |
D. $100 a drug addict just handed over to a drug dealer in exchange for
| | | | | | | | | | | | | | |
a dose of illegal drugs
| | | |
E. None of the above - CORRECT ANSWER✔✔-D. $100 a drug addict just
| | | | | | | | | | | |
handed over to a drug dealer in exchange for a dose of illiegal drugs
| | | | | | | | | | | | | |
Based on the below provided quarterly values please estimate an
| | | | | | | | | |
annual rate of change in the US output is
| | | | | | | | |
A. 0.63%|
B. 1.22%|
C. 2.46%|
D. 2.53%|
E. 4.89 - CORRECT ANSWER✔✔-D. 2.53%
| | | | | |
, (Q4-Q3/Q3)
In the circular flow model we distinguished the following economic
| | | | | | | | | |
agents
A. Households
|
B. Corporations
|
C. Governments
| |
D. All of the above
| | | |
E. Only A & C - CORRECT ANSWER✔✔-E. Only A & C
| | | | | | | | | | |
In our lecture discussions we concluded that - CORRECT ANSWER✔✔-In
| | | | | | | | | |
macroeconmics we referred to a difference between goods produced | | | | | | | | |
and goods sold as an inventory investment
| | | | | |
Which of the following will have a bigger impact on a change in the
| | | | | | | | | | | | | |
current year's Real GDP, ceteris paribus
| | | | |
A. A Sale of already existing home
| | | | | |
B. A sale of a newly produced home
| | | | | | |
C. No difference between A & B
| | | | | |
D. Can't be answered
| | | |
