ECON EXAM
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eco-201-202.zipATT00001
ATT00002
ECO-201.docx
1-What is “movement “ along demand and supply curves?
2-What are the characteristics of income elasticity of demand?
3- mention about ten pairs of items that are considered to be the complement of each other
4- What is income elasticity of demand?
5- What is “Choice” in economics terms?
6-Who sets price floor and price ceiling?
7- What are the characteristics of price elasticity of demand?
8-Provide one example from your own experience to show how you made rational choice(s)
9-Who sets market prices?
10- What is Cross elasticity of demand?
11- What is price floor?
12- What is price ceiling?
13- What is market Price?
14- What is elasticity
15- What is price elasticity of demand
16- What are the advantages and disadvantages of price floor and price ceiling?
17- What is Production Possibility Curve?
18- What is the term “Ceteris Paribus”?
19- What are the characteristics of corss elasticity of demand?
20- What is the difference between substitute and complement goods?
21- What are changes in demand as well as changes in supply?
22- Provide about two real life examples of items that normally government sets price floor on them and explain why?
23- What are the factor(s) that causes movements along demand curve and supply curve?
24- What are the determinants of price elasticity of demand?
25- Mention five sets of items that are considered to be substitute to each other ?
ECO-202.docx
1-Intermediate goods are in other words finished goods and services that are ready for consumption ?
True
False
2-The focus of this course will be on demand shock because supply shock is not as such important in any economy ?
True
False
3- There is no difference between gross investment and net investment ?
True
False
4- What causes business cycle?
5- Differentiate between savings and investments ?
6- What is net exports?
7- What is the difference between Financial and economic investments
8- Define the following
i National Income
ii Personal income
iii Disposable income
iv Purchasing power parity
Question 1
9- What is economic expectation?
10- What is uncertainty in economics?
11- What are the components of expenditure approach in measuring GDP?
12- Macroeconomics studies behavior of the economy by focusing its attention to a number of firms?
True
False
13- Demand shocks are such a big problem because prices are not sticky enough and can change at anytime
True
False
14- What are the main components of income approach in measuring GDP?
15- conomic shocks occur when events unfold in ways that people were not expecting ?
True
False
16- US Gold dealers purchase gold from East Africa to produce ornaments and also resale part of the gold to other countries. Should the transactions be recorded in the GDP?
17- What are the phases of business cycle?
18- If there is high inflation in a country, there may be rapid growth in nominal GDP but not much growth in real GDP?
True
False
19- Mention four shortcomings of using GDP to explain the wellbeing of the national economy (economy’s performance) ?
20- A Chinese company relocates its plant near SNHU to produce laptops to meet the growing demand of the SNHU students. Should the value of laptops produced by this company near SNHU count as the output of the US economy or Chinese Economy?
21- List five major macroeconomic indicators?
22- Define the following
v Nominal GDP
vi Real GDP
vii GDP potential
viii GDP gap
GDP per capital
23- WHat is purchasing power parity?
24- What is the focus of macroeconomics?
25- Differentiate between economic and financial investments?
