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.
6. The biggest change in Pres. Bush's proposed tax package is the elimination of individual taxes on ______________.
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?
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?