Study Guides (248,151)
Canada (121,346)
Economics (93)
ECON 1000 (64)
all (17)
Final

ECON 1000EXAM.docx

15 Pages
336 Views
Unlock Document

Department
Economics
Course
ECON 1000
Professor
All Professors
Semester
Winter

Description
ECON 1000 INTRODUCTION TO ECONOMICS Student NameID NoAnswer ALL Questions1As recessions begin productiona and unemployment both riseb rises and unemployment fallsc falls and unemployment risesd and unemployment both fall2 The classical dichotomy refers to the separation ofa variables that move with the business cycle and variables that do notb changes in money and changes in government expendituresc endogenous and exogenous variablesd real and nominal variables3 An increase in the price level makes the dollars people hold wortha more so they spend moreb more so they spend lessc less so they spend mored less so they spend less4 When the price level falls interest ratesa rise so firms increase investmentb rise so firms decrease investmentc fall so firms increase investmentd fall so firms decrease investment5 A decrease in US interest rates leads toa a depreciation of the dollar that leads to greater net exportsb a depreciation of the dollar that leads to smaller net exportsc an appreciation of the dollar that leads to greater net exportsd an appreciation of the dollar that leads to smaller net exports6 When taxes decrease consumptiona increases so aggregate demand shifts rightb increases so aggregate supply shifts rightc decreases so aggregate demand shifts leftd decreases so aggregate supply shifts left7 Which of the following shifts aggregate demand to the lefta an increase in the price levelb a decrease in the money supplyc an increase in net exportsd an investment tax credit8 In the long run technological progressa and increases in the money supply both make the price level riseb and increases in the money supply both make the price level fallc makes the price level rise while increases in the money supply make prices falld makes the price level fall while increases in the money supply make prices rise 9 Policymakers who control monetary and fiscal policy and want to offset the effects on output of an economic contraction caused by a shift in aggregate supply could use policy to shifta aggregate supply to the rightb aggregate supply to the leftc aggregate demand to the rightd aggregate demand to the left10 In 1986 OPEC countries increased their production of oil This causeda prices to riseb aggregate supply to shift rightc unemployment to rised None of the above is correctConsider the exhibit below for the following questions
More Less

Related notes for ECON 1000

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit