The Economic Environment of Business
Final Exam
Open Notes, Open Book,
Taken Individually
General Instructions
You may take up to 2 hours and 20 minutes on this examThere are a total of 45 points on the exam. The test is open note and open book.
Please type your answers in bold type immediately after the question(s). Please keep your answers short. Short, to the point answers will do the trick. Rambling often brings with it “not so right” stuff and costs points. I have not intended to make this a time-constrained exam but, depending on your comfort level with the material, you might need to keep moving with targeted answers. I would suggest that you first answer all the questions with bullet point responses, then go back and make sure your points are clear.
Part I: Fill in the Blank and T/F (1 point each)
- If steady-state real (per capita) GDP growth in an economy is 2%, the standard of living for the average(?) citizen will ___________ in approximately __________ years.
Ans: Double, 35
- For the 12 months ending in March, 2009, Britain had a Current Account deficit of $50.6 billion and it had a Financial Account ____________________ of ___________________.
Ans: Surplus, $50.6 billion
To Read More / Full Solution
To Read More / Full Solution
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