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ECO 550 Midterm Exam
1) For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use?
2) The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:
3) If two alternative economic models are offered, other things equal, we would
4) Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast.
5) The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as:
6) Which of the following barometric indicators would be the most helpful for orecasting future sales for an industry?
7) European Union labor costs exceed U.S. and British labor costs primarily because
8) Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because
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) 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
12) An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?
13) If Ben Bernanke, Chair of the Federal Reserve Board, begins to tighten monetary policy by raising US interest rates next year, what...
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