Midterm Kinh tế vĩ mô - Kinh tế vĩ mô FTU

FOREIGN TRADE UNIVERSITY DEPARTMENT OF MACROECONOMICS MID-TERM EXAMINATION - PRINCIPLES OF MACROECONOMICS Time: 60 minutes Part 1. Multiple choice question (0.25 point/question) 1. Which of following is not the field of macroeconomics A. Increase of competition increases productivity of automobile industry or not B. How increase of electricity price affects CPI C. How participating CPTPP affects exports of Vietnam D. How State Bank of Vietnam controls inflation 2. What is input of macroeconomic system? A. Household expenditures B. Population C. Investment of firms D. All of the above 3. To calculate GDP, we A. Add all the wages paid to the workers B. Add all costs to produce goods and services finally produced domestically C. Include all market values of the final goods and services produced domestically D. Add all total market value of the final goods and services minus the total cost of producing them 4. Government subsidizes 100,000 VND to a poor family, then the family uses this money to buy food. The amount of money will be calculated in which component of GDP A. Government purchases B. Consumption C. Government transfer payments D. not included in GDP 2017 5. In 2023, Tuan sells the motorbikes manufactured in 2022 at the price of 40 million VND, meanwhile he pays for brokerage a fee of 3 million VND. This activity will contribute to GDP 2023 A. 37 million VND B. 40 million VND C. 43 million VND D. a figure between VND 3 million and VND 43 million 6. Mr Truong, a Vietnamese, work in the US as lecturer. His income will be included in A. GDP of Vietnam and GNP of US B. GDP of Vietnam and GDP of US C. GNP of Vietnam and GNP of US D. GNP of Vietnam and GDP of US 7. Real GDP in 2018 is greater than nominal GDP in 2018, which proves A. Output in 2018 is larger than base year output B. Output in 2018 is smaller than base year output C. Price in 2018 is greater than the base year price D. Price in 2018 is less than the base year price 8. If the CPI was 108 in 2001 and 420 in 2023, then $10 in 2001 purchased the amount of goods and services equals to A. $ 2.75 in 2023 B. $ 28.89 in 2023 C. $ 31.2 in 2023 D. $ 38.89 in 2023 9. CPI in 2023 was 225, CPI in 2024 was 236. Nominal interest rate in the period was equal to 6.5%. The real interest rate in this period is A. 1.6% B. 4.9% C. 6.82% D. 11.4% 10. If consumers tend to buy cheaper goods while CPI still keep the basket as the same, what is the limitation of CPI A. The appearance of new goods B. Bias substitution C. Not reflect the change of quality D. None of the above 11. Mr T has the nominal income in year 1, 2, 3 of $50,000, $60,000 and $80,000 respectively. The CPI in year 1, 2, 3 are 100, 120 and 140 respectively. In which year, Mr T has the lowest real income in A. Year 1 B. Year 2 C. Year 3 D. Need more data to make conclusion 12. That Mr. Nam who just graduate from a university and is looking for a job belongs to A. Frictional Unemployment B. Structural Unemployment C. Seasonal Unemployment D. Classical Unemployment 13. Unemployment rate equals to A. the unemployed over the employed B. the unemployed over the working-age population C. the unemployed over the labor force D. none of the above 14. Know that total unemployment is 6%, natural unemployment is 4%, then cyclical unemployment is A. 1.5% B. 2% C. 10% D. -2% 15. Ms. Lan from a housewife now turns into a job seeker, this will make A. unemployment rate reduce B. unemployment rate rise C. adult populations decrease D. none of the above 16. A country with real GDP of 70 billion and an average annual growth rate of 4%. Within three years, real GDP grows by how much A. 7 billion B. 7.770 billion C. 7.175 billion D. 8.740 billion 17. If the current real GDP is $ 160 billion and 5 years after the actual GDP will be expected to be $ 200 billion then the average economic growth rate in that period is A. 4.56% B. 5% C. 25% D. There is no correct answer 18. Apply Rule 70 to a country with an average annual growth rate of 2%, so after 70 years, the country's GDP increases by A. 2 times B. 4 times C. 6 times D. 8 times 19. What is the non-economic factor driving growth A. Labor B. Capital C. Technological level D. Legal system of intellectual property 20. Which of the following policies promote technology development A. Invest in education and training B. Promote R&D activities C. Build and implement Intellectual Property Right law D. All of the above Part 2 Math Problem 1. The data of output of a country are given as follows (2 points): Goods A P Q Goods B P Q Goods C Economic GDPn GDPr DGDP growth rate P Q Year 1 4 10 2 15 8 2 (base year) Year 2 5 12 3 15 10 3 Year 3 6 14 4 16 12 4 Fulfill the table with the data of nominal GDP (GDPa), real GDP (GDPr), GDP deflator (DGDP) and economic growth rate. Write each calculation that generate your results 2. The data of CPI of a country are given as follows (2 points): Basket of goods and services of a typical consumer of the country: 10 goods A, 6 goods B and 3 goods C. PA PB PC Cost of basket CPI Inflation rate Month 1 5 2 12 Month 2 6 3 15 (base month) Month 3 8 4 ? 25% Fulfill the above table (especially the mark?) with the results of cost of basket, Consumer price index (CPI) and inflation rate 3. Unemployment rate calculation (1 point) Total population of country X is 100 million people. The number of elder and children is 20 million people. The labor force participation rate is 80%. The number of employed is greater than the number of unemployed by 56 million people. Calculate the unemployment rate.