ECON 545 Week 6 Quiz

  This document of ECON 545 Week 6 Quiz includes answers to the next questions: 1. (TCO F) The size of the labor force in a community is 800, and 720 of these folks are gainfully employed. In this community, 200 people over the age of 16 do not have a job, and are not looking for work. In addition, 100 people in the community are under the age of 16. The unemployment rate is:
2. (TCO F) Suppose nominal GDP in 2005 was $14 trillion, and in 2006 it was $15 trillion. The general price index in 2005 was 100, and in 2006 it was 103. Between 2005 and 2006, real GDP rose by what percent?
3. (TCO F) The consumer price index was 185.2 in January of 2004, and it was 190.7 in January of 2005. Therefore, the rate of inflation in 2004 was about
4. (TCO E) (10 points) As the Euro appreciates in value relative to the U.S. dollar, what happens to the price of U.S. goods in Europe? What happens to the price of European goods in the U.S.?
(10 points) Why would a country (for example, China) choose to keep their currency relatively pegged to the U.S. dollar? If the U.S. dollar were to appreciate considerably against most currencies, what would be the effect on Chinese exports to countries other than the United States?
5. (TCO E) Suppose the Indian rupee price of one British pound is 54.392 rupees for each pound. A hotel room in London costs 120 pounds, while a similar hotel room in New Delhi costs 6,500 Indian rupees. In which city is the hotel room cheaper, and by how much?
6. (TCO E) Answer the next question on the basis of the following production possibilities data for Landia and Scandia
7. (TCO E) Answer the next question on the basis of the following production possibilities data for Landia and Scandia:
Landia production possibilities
8. (TCO F) Country A produces two goods, elephants and saddles. In the year 2006, the 100 units of elephants produced sold for $2,500 per unit and the 30 units of saddles produced sold for $200 per unit. In 2007, the 120 units of elephants
produced sold for $3,000 per unit, and the 50 units of saddles produced sold for $300 per unit. Real GDP for 2007, assuming that 2006 is the base year, is ______.
9. (TCO E) A Honda Accord sells for $24,000 in the United States and for SF29,500 in Switzerland. Given an exchange rate of SF1.25 = $1, how do the car prices of both countries compare?
Business - General Business
 DEVRY ECON 545 Week 1 DQ 1 Supply and Demand


 DEVRY ECON 545 Week 1 DQ 2 Elasticity and the Minimum Wage


 DEVRY ECON 545 Week 2 DQ 1 Marginal Analysis


 DEVRY ECON 545 Week 2 DQ 2 Controlling Costs


 DEVRY ECON 545 Week 2 Project Part 1


 DEVRY ECON 545 Week 3 DQ 1 Mergers Acquisitions


 DEVRY ECON 545 Week 3 DQ 2 Anti-Trust Policy and Microsoft


 DEVRY ECON 545 Week 3 Quiz Imperfect Competition


 DEVRY ECON 545 Week 4 DQ 1 Macroeconomic News


 DEVRY ECON 545 Week 4 DQ 2 Healthcare


 DEVRY ECON 545 Week 5 DQ 1 Trade Deficits


 DEVRY ECON 545 Week 5 DQ 2 Exchange Rates


 DEVRY ECON 545 Week 5 Project Part 2


 DEVRY ECON 545 Week 6 DQ 1 Fiscal Policy


 DEVRY ECON 545 Week 6 DQ 2 Monetary Policy


 DEVRY ECON 545 Week 6 Monetary and Fiscal Policy - You Decide


 DEVRY ECON 545 Week 6 Quiz


 DEVRY ECON 545 Week 7 DQ 1 The Public Sector


 DEVRY ECON 545 Week 7 DQ 2 Forecasting


 DEVRY ECON 545 Week 8 Final Exam


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