Ross Pearlmutter: Crackerjack Salesperson

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Macro Final Exam Student: ____________________________ H. Ross Pearlmutter is a crackerjack salesperson. He could probably sell anything to anyone. The company he works for goes out of business. Until he finds a new position, Mr. Pearlmutter is _____ unemployed. A. frictionally B. structurally C. cyclically D. psychologically Junior Ozark dresses for job interviews in bib overalls, a red lumberjack shirt, and torn basketball sneakers. He has been looking for a job as an investment banker ever since he dropped out of high school. He is now 46 years old and has never held a job. Mr. Ozark is _____ unemployed. A. frictionally B. structurally C. cyclically D. psychologically In general _____ by unanticipated inflation. A. creditors…show more content…
GDP - Depreciation = NDP B. NDP - Depreciation = GDP C. GDP + NDP = Depreciation D. Depreciation = NDP - GDP The largest sector of GDP is A. investment. B. government spending. C. net exports. D. consumption Which is not counted in GDP? A. a Social Security check sent to a retiree B. government spending on highway building C. money spent on an airline ticket D. money spent by a company to build a new office park If GDP doubled between 1990 and 1995 and prices doubled between 1990 and 1995, what happened to real GDP between 1990 and 1995? A. It doubled. B. It stayed the same. C. It increased. D. It declined. E. There is not enough information to answer this question. Gross Domestic Product is the total market value of all A. commodities sold in a year. B. services produced in a year. C. production during a year. D. consumer goods sold in a year. Which of the following is the best example of an intermediate product? A. a road B. steel C. bread D. a TV set E. an automobile We run a trade ________ on goods and a trade _________ on services. A. deficit, deficit B. surplus, surplus C. surplus, deficit D. deficit, surplus Net exports is a negative figure…show more content…
percentage taxes on sales revenues. E. the second most important source of federal revenue. A progressive tax is one for which the fraction of income used to pay it _____ as income increases. A. increases and then decreases B. is constant C. levels off D. increases E. decreases If Mr. Perot faces a 90 percent marginal tax rate, A. his average tax rate must be falling. B. the next dollar he earns nets him 90 cents. C. his total tax payments equal 90 percent of his income. D. he has a strong incentive to work harder. E. he has a strong incentive to work less. Sales and excise taxes tend to be ___________ because low income people tend to spend a _________ fraction of their income than high income people. A. progressive; larger B. regressive; larger C. progressive; smaller D. regressive; smaller If supply increases and demand remains unchanged, equilibrium quantity will _______ and equilibrium price will ______________. A. rise, rise B. fall, fall C. fall, rise D. rise, fall As price declines, quantity demanded goes _______ and quantity supplied goes ________. A. up, up B. down, down C. up, down D. down, up An increase in supply means that quantity supplied

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