Quiz #1 / Thurs., Jan. 30, 2003
1. What was the Fed's decision yesterday with regard to short-term interest rates?
2. What is the current level of U.S. GDP?
3. What is the current U.S. unemployment rate?
4. If the (nominal) prime interest rate is 5% and the inflation rate is 2%, then the real prime interest rate is _____%.
5. The JP Morgan index is used to measure one of those six key economic variables - which one?
***
Quiz #2 / Thurs., Feb. 6, 2003
1. What was the U.S. economy's rate of growth in 2002:IV?
2. Why is war with Iraq expected to harm the U.S. economy?
3. GDP, using the product approach = __+__+__+NX
4. Net Investment = Gross Investment - __________
5. Name a country in W. Europe with a very low unemployment rate.
(Extra
credit:)
6.
The biggest change in Pres. Bush's proposed tax package is the elimination
of individual taxes on ______________.
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Quiz #3 / Thurs., Feb. 13, 2003
1. The GDP price deflator is a _____-weighted price index.
2. The CPI is a _____-weighted price index.
3. With Okun's Law we can calculate potential GDP based on the _________ rate.
4. Why is Pres. Bush's economic plan proving a tough sell in Congress (acc. to article)?
5. What was notable about U.S. productivity in the 4th quarter of 2002?
(Extra
credit:)
6.
What was notable about U.S. productivity in the year
2002?
***
Quiz #4 / Thurs., Feb. 27, 2003
1. Thomas Malthus argued that living standards would fail to improve over the long run because short-run improvements would inevitably lead to rapid growth of __________________.
2. In what year did the U.S. productivity slowdown begin? ____________
3. The sources of productivity growth are technical change (greater "efficiency of labor") and capital _____________.
4. What economic index fell last month to its lowest point in 10 years?
5. Why has demand for Treasury and other bonds been so strong lately?