Quiz
Macroenomics
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Questions in this quiz (32)
1We Measure Gross Domestic product by multiplying the quantities of goods by their Prices Because it allows us to
- AExpress the values of products in a common unit measurement
- BCalculate the total number of units of goods produced in an economy
- CCorrect for inflation
2Gross domestic product calculations count only final goods and services because
- AThese are the only goods and services that are purchased in the economy
- BCounting all goods and services would lead to double counter of many activities
- COne can I calculate the quantity of intermediate produce
- DIt is difficult to measure the price of intermediate good production
3How does real gross domestic product differ from nominal gross domestic product
- AA nominal GDP controls for price change while real GDP does not
- BNominal GDP can be used to directly compare the amount of output produced from year to year while real GDP cannot be used for such comparison
- CReal GDP controls for price change while nominal GDP D does not
- DThere's no difference between nominal GDP and real GDP
4When they are sustain increases in Real GDP over time we say that the economic is undergoing
- AEconomic growth
- BEconomic stagnation
- CA recession
- DChange in banking
5Which of the following is not a component of gross domestic production
- AGovernment purchases
- BPurchases by consumers of used Goods
- CNet exports
- DPurchases by consumers of finished goods
6The largest component of GDP in the United States is
- ANet exports
- BPrivate investment expenditures
- CGovernment spending
- DConsumption expenditures
7Which of the following is an example of consumption expenditure
- AThe salary paid to the mayor of Denver
- BStaple Byington copy machines
- CThe export of us Pharmaceuticals to Mexico
- DThe purchase of a ticket to a New Orleans Saints game
8For the purpose of GDP accounting government purchases include
- ASocial Security payment
- BDirect transfer payment by the government to other individuals
- CThe purchase of military equipment
- DWelfare payments
9A nation net export consists of
- AIt's export plus all of this nation's Imports
- BIt's exports plus its Imports
- CIt's imports plus all of the nation export
- DIt's export minus its Imports
10When GDP is measured in current prices it is known as the
- ANominal GDP
- BReal GNP
- CReal GDP
- DNominal GNP
11When the GDP is measured using a justments for price changes it is known as the
- AReal GNP
- BNominal GNP
- CNominal GDP
- Dreal GDP
12Recession refers to a When the economy
- AGrows rapidly
- BExperience a raise in living standards
- CDecline for at least 6 months
- DSuffers due to political instability
13Business cycle are
- AThe transfer of an executive between firms
- BIllustration of fluctuation in GDP
- CA description of time required to bring a new product to Market
- DMovements in stock prices
14The period of time in which the level of output moves from a trough to a peak is called a
- ARecovery / expansion
- BPlateau
- CContraction/ decline
- DDepression
15One of the flaws of GDP is that it
- AIgnores transactions that do not take place in organized markets
- BIncludes measures of the underground economy
- CInclude only transactions that take place in foreign countries
- DIncludes measures of changes of tax levels
16During periods of poor economic Performance Real GDP
- ADecline but unemployment typically does not change
- BIs unchanged but employment rise sharply
- CDeclines and unemployment declines
- DDeclines and unemployment rise
17People who are currently not working but actively looking for work all officially classified as
- AUnemployment and in the labor force
- BUnemployment and out of the labor force
- Cemployment and out of the labor force
- DEmployment and in the labor force
18The data in table 6.1 the labor force participation rate of metropolis is approximately
- A52%
- B49%
- C96%
- D75%
19The Existence of discouraged workers will lead to an official headline unemployment rate that is
- AUnderstand, misleading low
- BOverstated misleading High
- CEither overstated or understated
- DUnbiased
20Hector voluntary left his job to search for a job in accounting the filed which he has his bachelor's degree at Hector is considered
- AFractionally unemployment
- BCyclically unemployed
- CStructurally unemployed
- DNot to be unemployed
21Auto worker laid off from Hotrod auto works as a result of a recession are considered
- ASeasonally unemployed
- BFrictionally unemployed
- CStructurally unemployed
- DCyclically unemployed
22At full employment the unemployment rate equals
- AStructural unemployment rate plus the cyclically unemployment rate
- BCyclical unemployment rate
- CStructural unemployment rates plus the fictional unemployment rate
- DStructural unemployment rate
23Which one of the following statements is true of the Consumer Price Index
- AIt does not take an account of the price of imported goods and services
- BIt measure change in price of a fixed basket of goods that change slowly
- CIt does not take into account the price of used Goods
24Cost of living adjustments are
- AAutomatic ways change based on the CPI which are included in some Union contracts
- BQuality measurement included in the calculation of CPI
- CAverage of neighboring years base price used in Constructing the CPI
- DChanges in the basket of goods used in calculating the CPI
25Suppose the CPI in Thailand was 300 in 2009 and 360 in 2010 the inflation rate between those two years was
- A30%
- B36%
- C20%
- D60%
26One of the necessary conditions for the classic Model to be true is that
- AWages and prices will not change
- BWages and prices are set by the government
- CWages were flexible and prices are fixed
- DWages and prices are fully flexible
27The term classical refers to an economic theory which states that over a relatively short period of time wages and prices will adjust quickly to bring the economy back to full employment
- ATrue
- BFalse
28When there is a decrease in labor Supply real wages are likely to
- AAllow less Leisure Time
- BRemain the same
- CDecrease
- DIncrease
29In 2008 which of the following countries had the highest share of consumption spending in GDP
- AChina
- BFrance
- CUnited States
- DGermany
30Crowding out refers to
- AReduction in tax revenues associated with increasing tax rates
- BDecrease in consumption investment or net export caused by an increase in government purchases
- CIncrease in tax revenues associated with increase in tax rates
- DIncrease in consumption investment or net exports caused by an increase in government purchases
31According to the classic views of economicos more Capital will lead to an increase in output ceteris paribus
- ATrue
- BFalse
32Requiring an employer to provide health insurance or pension for workers is like attacks or labor which will cause a decrease in the demand of labor
- ATrue
- BFalse
Information
- Description
- Quiz on Macroenomics , created by Felisia Fitzpatrick on 14/11/2018.
- Author
- Felisia Fitzpatrick
- Language
- English
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