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ECO 550 Midterm Exam
1. If two alternative economic models are offered, other things equal, we would 2. Time-series forecasting models:
3. Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example?
4. An example of a time series data set is one for which the: 5. For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use? 6. Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry? 7. If Ben Bernanke, Chair of the Federal Reserve Board, begins to tighten monetary policy by raising US interest rates next year, what is the likely impact on the value of the dollar? 8. An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? 9. The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time 10. In an open economy with few capital restrictions and substantial import-export trade, a rise in interest rates and a decline in the producer price index of inflation will 11. An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from 12. The optimal currency area involves a trade-off of reducing transaction costs but the inability to use changes in exchange rates to help ailing regions. If the US, Canada, and Mexico had one single currency (the Peso-Dollar) we would tend to see all of the following EXCEPT: 13. Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would 14. The isoquants for inputs that are perfect complements for one another consist of a series of: 15. The combinations of inputs costing a constant C dollars is called: 16. In a production process, an excessive amount of the variable input relative to...
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