ECON 545 Week 8 Final Exam | eBooks | Education

ECON 545 Week 8 Final Exam

ECON 545 Week 8 Final Exam PLDZ-456 Instant Download Price
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ECON 545 Final Exam 1

1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.

2. (TCO B) Here is some data on the demand for marshmallows:.........

3. (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below..............

4. (TCO C) Answer the next questions on the basis of the following cost data for a firm in pure competition:...........

5. (TCO D) A software producer has fixed costs of $18,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below:.........

6. (TCO F) (a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

7. (TCO G and H) (a.) (15 points) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief -- you can answer this in 2 or 3 brief paragraphs).

8. (TCO G) (a.) (20 points) Third National Bank is fully loaned up with reserves of $20,000 and demand deposits equal to $100,000. The reserve ratio is 20%. Households deposit $5,000 in currency into the bank. How much excess reserves does the bank now have, and what is the maximum amount of new money that can be created in the banking system as a result of this deposit?

9. (TCO E and I) Let the exchange rate be defined as the number of dollars per British pound. Assume there is a decrease in U.S. interest rates relative to that of Britain.

ECON 545 Final Exam 2

1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.

2. (TCO B) Here is some data on the demand for lettuce:..........

3. (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below..........

4. (TCO C) John operates a small business out of his home and has very little in terms of fixed costs. Answer the next questions (Parts A and B) on the basis of the following cost data for John’s firm operating in pure competition:...........

5. (TCO D) A software producer has fixed costs of $30,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below:..........

6. (TCO F) (a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

7. (TCO G and H) (a.) (15 points) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief -- you can answer this in 2 or 3 brief paragraphs).

8. (TCO G) (a.) Reserve requirement for banks is set at 5%. Your firm deposits its profits of $28,000 into the Third National Bank. (10 points) How much excess reserve does your deposit generate for the bank?(10 points)

9. (TCOs E and I) Let the exchange rate be defined as the number of dollars per Japanese yen. Assume that there is a relatively lower rate of inflation in the U.S. relative to that of Japan

ECON 545 Final Exam 1 1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets. 2. (TCO B) Here is some data on the demand for marshmallows:......... 3. (TCO C) You have been hired to manage a small manufactu
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