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Category > Economics Posted 12 Jul 2017 My Price 10.00

ECON 306 – INTERMEDIATE MACRO ECONOMICS

ECON 306 – INTERMEDIATE MACRO ECONOMICS
MID TERM
NAME OF STUDENT ____________________________
1. A farmer grows a bushel of wheat and sells it to a miller for $1.00.
The miller turns the wheat into flour and sells it to a baker for $3.00.
The baker uses the flour to make a loaf of bread and sells it to an engineer for $6.00.
The engineer eats the bread.
Compute
a) value added at each stage of production
b) GDP 2. From the above table:
a. Compute nominal GDP in each year
b. Compute real GDP in each year using 2002 as the base year.
3. What is meant by unemployment? Discuss the rate of unemployment. How does it
affect the economy? What government programs are offered in this regard?
4. Define
a. Minimum wage law
b. Labor unions
c. Life Expectancy
d. Infant mortality 5. Discuss the Solow Model. How does saving, consumption, production, income and
population affect economic growth? MULTIPLE CHOCIE QUESTIONS GOOD LUCK !

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SuperTutor
(15)
Status NEW Posted 12 Jul 2017 12:07 AM My Price 10.00

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