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#### Drexel University Econ 202 Winter 2014 Mid-term Exam with all Correct Answers

Tutorial # 00014494
Number of words in this Tutorial: 1442
Posted On: 05/10/2014 09:00 AM
Posted By: expertden
Tutorial Preview …44:4% xx 10 xxxxxx Consider the xxxxxxxxx table (numbers xxx in xxxxxxxxx xxxx GDP xxxxxxxxxx 2011 10000 xx 2012 11000 xx Compute xxx xxxxxx rate xx real GDP xxx capita between xxxx and xxxx xxxxxx First xxxxx compute real xxx per capita xx the xxx xxxxx Recall xxxx real GDP xxx capita is xxxxx to xxxx xxx divided xx population GDP xxx capita 2011= xxxxx 10 x xxxx GDP xxx capita 2011= xxxxx 12 = xxxxx Second xxxxx xxxxxxx the xxxxxx rate of xxxx GDP per xxxxxx Growth xxxx xx real xxx per capita= xxxxxxxxxxxxx 1000100 =????8:34% xx population xxxxx xxxxxx than xxxxx real GDP, xxxx GDP per xxxxxx declines xx x 34% xx 15 Points xxxxxxxxxxx is the xxxxxxx component xx xxxxxxxxx demand xx the US xxxxxxx Brie y xxxxxxx how xxx xxxxxxxxx events xxxxx a¤ect its xxxxx HINT:you have xx say xxxxxxx xxxxxxxxxxx would xxxxxxxx or decrease, xxx give a xxxxx economic xxxxxxxxxxx xxx An xxxxxxxx in interest xxxxx on checking xxxxxxxx from xx xxxxxxxx value) xx 1 5% xxxxxx A positive xxxxxxxx rate xx xxxxxxxx accounts xxxxx people more xxxxxxx to save, xxxx as x xxxxxxx less xxxxxxx to consume xxx we should xxxxxx a xxxxxxxx xx consumption xxx NOTE:since the xxxxxxxx was on xxx interest xxxx xx checking xxxxxxxx (and not xx mortgages or xxxxx types xx xxxxxx an xxxxxx like "consumption xxxxx decrease because xx has xxxxxx xxxx expensive xx borrow from xxxxxx is not xxxxxxx Checking xxxxxxxx xxx a xxxxxx not a xxxxxxxxx instrument 3 xxx A xxxxxx xx ation xxxx ANSWER Higher xx ation erodes xxx purchase xxxxx xx both xxxxxx and disposable xxxxxx As a xxxxxxx if xxx xxxxxxx value xx wealth and xxxxxxxxxx income remains xxxxxxxxxx people xxxx xxxxxxxx in xxxx terms, and xxxxxxx less (c) x forecast…
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