Macro 1
Macro 2
Macro 3
Macro 4
WT
100
According to this figure, the point where only motorcycles are produced is
E
100
In which panel does planned investment vary inversely with income?
D
100
Money kept in a savings account is serving which function of money?
Store of value
100
During the fall of 1993, prices were increasing by 1% an hour in Bosnia, this was an example of ____________.
Hyperinflation
100
What year was WT founded?
1910
200
The single largest expenditure component of GDP is:
a. government spending
b. investment
c. consumption
d. net exports
C. consumption
200
A period during which aggregate output rises is known as
expansion
200
"Merit good" and "public goods" are two examples of what principle?
Market failure
200
What are cash payment made by the government directly to households known as?
Transfer payments
200
What is the current capacity of the WT research feedlot?
800
300
Which of the following pollution types is both a point source emission and transboundary pollution?
A. polluted oceans and seas
B. Global warming
C. acid rain
D. All of the above
C. acid rain
300
If a new governmental policy increases unemployment benefits, we would expect the _______ of labor curve to shift to the ______.
a. Supply; right
b. Demand: right
c. Supply; left
d. Demand; left
Supply; left
300
If 20 million workers are unemployed and 180 million workers are employed, then what is the unemployment rate?
10%
300
What can be defined as income received above the amount required to induce the supply of a given quantity of a factor?
Economic rent
300
What is the new Buffalo's barn name?
Doc
400
What is the labor force participation rate for the economy in the given table?
a. 66.7%
b. 75.0%
c. 77.8%
d. 80.9%
D. 80.9%
400
According to Keynes, an increase in government spending or an increase in the money supply will:
A. Shift AS1 to the right
B. Shift LAS to the right
C. Shift AD1 to the right
D. Shift AD1 to the left
C. Shift AD1 to the right
400
Which THREE of the following items are included within the definition of total economic value?
a. existence value
b. nuisance value
c. use value
d. option value
e. correction value
A, C, D
400
Suppose the economy is at Point A; an increase in oil price could move the economy to point _____.
E.
400
Who waters all of the succulents and plants in the ag building atrium?
Erin Jones
500
If we are currently at point A on the demand curve, which as a y-coordinate of 10 and a x-coordinate of 4, and a slope of -5, the price elasticity of demand is:
a. -0.5
b. -0.125
c. -0.08
d. -5
a. -0.5
500
Which area represents the external costs at the unregulated competitive equilibrium?
a. G+H+J+M+K
b. G+H+J
c. G+M
d. G
B. G+H+J
500
What is the level of aggregate output that can be sustained in the long run without inflation?
$700 million
500
If equilibrium output is initially at $600 billion, an expansionary monetary policy _______ equilibrium output and _______ the price level.
increases; increases
500
Earlier this year, WT's track and field star, Benjamin Azamati double qualified for the 2024 Paris Olympics in what two races?
100-meter and 4x100 meter relay