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ECO403 Online Quiz No 02 Solution & Discussion Last Date:12-12-2014

ECO403 - Macroeconomics  Online Quiz 2 Solution Fall 2014 of Virtual University (VU)

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This is to inform that quiz 02 will be opened on 10th December, 2014 and last date to attempt quiz will be 12th  December, 2014.

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Please all students related this subject Share your online Quizzes here to help each other.thanks

 

Please share the question and their answers of this quiz if anyone has done.
Thanks. 

Question # 1 of 20 ( Start time: 01:12:03 AM )     Total Marks: 1
Which of the following is NOT included in M1?
Select correct option:
    Deposits in checking accounts that pay interest
    Deposits in checking accounts
    Deposits in money market mutual funds
    Currency held by the public
     
Question # 2 of 20 ( Start time: 01:12:37 AM )     Total Marks: 1
Different firms change their---------at different times; this leads to----------.
Select correct option:
    Prices; Menu cost of inflation.
    Weight; Shoe leather cost of inflation.
    Packing; General inconvenience.
    prices; Relative price distortions.
    
Question # 3 of 20 ( Start time: 01:14:06 AM )     Total Marks: 1
If nominal GDP = 4700 while real GDP = 1500 then GDP deflator is equal to;
Select correct option:
    (1500/4700) * 100
    (4700 + 1500) * 100
    (4700-1500) * 100
    (4700/1500) * 100

Question # 4 of 20 ( Start time: 01:15:34 AM )     Total Marks: 1
Suppose the first five units of labor inputs generate corresponding total outputs of 100, 130, 150, 160 and 170. The marginal product of the second unit of labor is:
Select correct option:
    230
    150
    130
    30

Question # 5 of 20 ( Start time: 01:17:03 AM )     Total Marks: 1
The Phillips Curve illustrates the short run tradeoff between:
Select correct option:
    Inflation and unemployment.
    Inflation and employment.
    Inflation and price level.
    Inflation and price index.

Question # 6 of 20 ( Start time: 01:18:29 AM )     Total Marks: 1
When money is used to express the value of goods and services, this function of money is called--------
Select correct option:
    Unit of account.
    Store of purchasing power.
    Store of value.
    Medium of exchange.
     
Question # 7 of 20 ( Start time: 01:19:26 AM )     Total Marks: 1
In a given year, a country's exports total Rs25 million & imports are Rs27 million. Its net exports are:
Select correct option:
    Rs.52 million.
    Rs. 25 million.
    Rs. - 2 million.
    Rs. + 2 million.
    
Question # 8 of 20 ( Start time: 01:20:45 AM )     Total Marks: 1
If you buy a pizza from a restaurant rather than making the identical product at home, then which of the following would happen?
Select correct option:
    GDP increases.
    GDP decreases.
    GDP remains unchanged.
    Society’s well-being decreases.
    
Question # 9 of 20 ( Start time: 01:21:18 AM )     Total Marks: 1
The study of the aggregate economy is known as:
Select correct option:
    Microeconomics.
    Macroeconomics.
    Financial economics.
    Development economics.

Question # 10 of 20 ( Start time: 01:22:32 AM )     Total Marks: 1
Economy faces a short run tradeoff between inflation and _________:
Select correct option:
    Employment.
    Unemployment.
    Price level.
    None of given options.
     
Question # 11 of 20 ( Start time: 01:23:48 AM )     Total Marks: 1
Use the following table to answer question Worker 1 2 3 4 Output 100 107 110 113 What is the marginal product of the second worker?
Select correct option:
    03
    07
    107
    207

Question # 12 of 20 ( Start time: 01:25:17 AM )     Total Marks: 1
If the nominal interest rate is 7 percent & the inflation rate is 4 percent, the real interest rate is-----------------percent.
Select correct option:
    3
    11
    28
    110
     
Question # 13 of 20 ( Start time: 01:26:14 AM )     Total Marks: 1
The ---------refers to the separation of ------and ----------- variables.
Select correct option:
    Classical dichotomy; real; nominal
    Keynes dichotomy; dependent; independent
    Classical dichotomy; exogenous; endogenous
    Classical dichotomy; real wages; real
    
Question # 14 of 20 ( Start time: 01:27:45 AM )     Total Marks: 1
A carpenter buys wood for Rs.500 and paint for Rs.200 and uses them to produce table for consumers of worth Rs.700, the contribution to Gross Domestic Product (GDP) is:
Select correct option:
    Rs.300
    Rs.500
    Rs.700
    Rs.1400

Question # 15 of 20 ( Start time: 01:29:16 AM )     Total Marks: 1
The GDP deflator can be used:
Select correct option:
    To reduce the overstatement of economic activity that would occur if we included intermediate production.
    To correct nominal GDP for the contribution to domestic GDP made by foreign owned factors of production.
     To decompose a change in nominal GDP into a change in real GDP and an average change in prices.
    To obtain the factor income flows that result from the economic activity that has produced the GDP.
    
Question # 16 of 20 ( Start time: 01:30:06 AM )     Total Marks: 1
The relative price of domestic ------- in terms of foreign --------- is known as nominal exchange rate.
Select correct option:
    Goods; goods
    Goods; currency
    Currency; currency
    Currency; goods
     
Question # 17 of 20 ( Start time: 01:31:32 AM )     Total Marks: 1
Gross Domestic product is sum of the market value of the:
Select correct option:
    Intermediate goods.
    Intermediate goods & used goods.
    Intermediate goods & final goods.
    Final goods and services.
     
Question # 18 of 20 ( Start time: 01:32:53 AM )     Total Marks: 1
If nominal exchange rate is Rs.20 and price ratio is Rs.30. What would be the real exchange rate?
Select correct option:
    20+30.
    20-30.
    20*30.
    20/30.
    
Question # 19 of 20 ( Start time: 01:34:06 AM )     Total Marks: 1
If an economy has population of 15 million people out of which 2 million are unemployed and 7 million are employed. What is rate of unemployment?
Select correct option:
    (2/17)*100
    (2/09)*100
    (7/09)*100
    (2/7)*100
     
Question # 20 of 20 ( Start time: 01:35:09 AM )     Total Marks: 1
------------- illustrates the short run trade-off between inflation and unemployment.
Select correct option:
    Phillips curve
    Consumption curve
    Demand curve
    Investment curve

FRIENDS PLEASE SHARE THE CORRECT ANSWERS OF THE ABOVE QUESTIONS TO HELP EACH OTHER.

only questions were copied from windows sorry for that 

Question # 20 of 20 ( Start time: 08:11:30 PM ) Total Marks: 1
The 'law of demand' means:
Select correct option:

Question # 19 of 20 ( Start time: 08:10:53 PM ) Total Marks: 1
If nominal exchange rate is Rs.10 and price ratio is Rs.20. What would be the real exchange rate?
Select correct option:

Question # 18 of 20 ( Start time: 08:09:49 PM ) Total Marks: 1
The unemployment rate is equal to the number of ---------labor divided by the------------multiply by 100.
Select correct option:

Question # 17 of 20 ( Start time: 08:09:04 PM ) Total Marks: 1
National saving is equal to ---------.
Select correct option

Question # 16 of 20 ( Start time: 08:08:26 PM ) Total Marks: 1
Disposable Personal income is equal to personal income minus------------
Select correct option

Question # 15 of 20 ( Start time: 08:07:42 PM ) Total Marks: 1
A -----------------is an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.
Select correct option:

Question # 14 of 20 ( Start time: 08:06:49 PM ) Total Marks: 1
Suppose the first five units of labor inputs generate corresponding total outputs of 100, 130, 150, 160 and 170. The marginal product of the fourth unit of labor is:
Select correct option:

Question # 13 of 20 ( Start time: 08:06:12 PM ) Total Marks: 1
Private saving is equal to ---------.
Select correct option:

Question # 12 of 20 ( Start time: 08:05:59 PM ) Total Marks: 1
Computers are examples of:
Select correct option:

Question # 11 of 20 ( Start time: 08:04:54 PM ) Total Marks: 1
If the real EXCHANGE RATE of U.K. decreases, the ------of U.K will fall and --------- will rise.
Select correct option

Question # 10 of 20 ( Start time: 08:04:30 PM ) Total Marks: 1
If the private saving is Rs.900 and public saving is Rs.800, the National saving is;
Select correct option:

Question # 9 of 20 ( Start time: 08:03:25 PM ) Total Marks: 1
Which of the following best describes a demand curve?
Select correct option

Question # 8 of 20 ( Start time: 08:02:56 PM ) Total Marks: 1
In production function, labor (L) and output (Y) has;
Select correct option:

Question # 7 of 20 ( Start time: 08:02:36 PM ) Total Marks: 1
Which of the following is NOT a flow variable?
Select correct option:

Question # 6 of 20 ( Start time: 08:01:50 PM ) Total Marks: 1
If the national saving is Rs.1000 and public saving is Rs.700, Private saving will be equal to--------.
Select correct option:

Question # 5 of 20 ( Start time: 08:01:21 PM ) Total Marks: 1
A firm hires worker up to the point where marginal product of labor (MPL) is--------:
Select correct option:

Question # 4 of 20 ( Start time: 08:01:09 PM ) Total Marks: 1
Which of the following is NOT included in M1?
Select correct option:

Question # 3 of 20 ( Start time: 08:00:23 PM ) Total Marks: 1
GDP deflator is equal to:
Select correct option:

Question # 2 of 20 ( Start time: 07:59:51 PM ) Total Marks: 1
Suppose that, because of inflation, a business in China must calculate, print, and mail a new price list to its customers each month. This is an example of----------------------.
Select correct option:

Question # 1 of 20 ( Start time: 07:58:42 PM ) Total Marks: 1
Gross Domestic product is sum of the market value of the:
Select correct option:

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