This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 108 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 108 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is a large pool of money that several people put together, and that is usually invested in stocks and bonds and managed by a financial expert? A) Mutual fund. B) Stock. C) Bond. D) Bitcoin. Show Answer Correct Answer: A) Mutual fund. 2. A herd of cattle is an example of ..... A) Land. B) Labor. C) Entrepreneur. D) Capital. Show Answer Correct Answer: A) Land. 3. What is aggregate supply? A) The total amount of goods and services producers are willing and able to supply in an economy at a given price level and period of time, excluding imports. B) The total amount of goods and services producers are willing and able to supply in an economy at a given price level and point in time. C) Total amount of goods and services producers are willing and able to supply in an economy at a given price level and period of time. D) The total amount of goods and services consumers are willing and able to purchase in an economy at a given price level and period of time. Show Answer Correct Answer: C) Total amount of goods and services producers are willing and able to supply in an economy at a given price level and period of time. 4. The study of the economy as a whole ..... the "big picture" ..... is called A) Microeconomics. B) Mercantilism. C) Macroeconomics. D) Macronutrition. Show Answer Correct Answer: C) Macroeconomics. 5. Which of the following is a method to measure the National Income involves double counting? A) Expenditure method. B) Income method. C) Product method. D) Value Added Method. Show Answer Correct Answer: D) Value Added Method. 6. What Determines a Nation's Total Output? A) The economy's ability to produce goods and services depend on its prices of inputs or factors of production and technology to turn inputs into output. B) The economy's ability to produce goods and services depend on its quantity of inputs or factors of production and technology to turn inputs into output. C) The economy's ability to produce goods and services depend on the demand of consumers. D) The economy's ability to produce goods and services depend on Capital resources and human resources. Show Answer Correct Answer: B) The economy's ability to produce goods and services depend on its quantity of inputs or factors of production and technology to turn inputs into output. 7. What event caused many scholars to change their ideas about Smith's theory? A) The American Revolution. B) The Russian Revolution. C) The Great Depression. D) The Vietnam War. E) September 11, 2001. Show Answer Correct Answer: C) The Great Depression. 8. The average price of goods consumed by consumers is measured by the published Consumer Price Index, or CPI..... A) Every Quarter. B) Every year. C) Every month. D) Every semester. Show Answer Correct Answer: C) Every month. 9. Alice, who has left her job in New York, is moving to Atlanta and looking for a job. In terms of employment status, Alice can most accurately be described as A) Involuntarily unemployed. B) Cyclically unemployed. C) Seasonally unemployed. D) Frictionally unemployed. E) Not in the labor force. Show Answer Correct Answer: D) Frictionally unemployed. 10. Why might manufacturing workers have higher wage rates than agricultural workers? A) Manufacturing workers are in greater supply. B) Manufacturing workers face fewer health and safety risks. C) Manufacturing workers have better working conditions. D) Manufacturing workers use more productive equipment. Show Answer Correct Answer: D) Manufacturing workers use more productive equipment. 11. The government of Tatooine had a balanced budget last year. However, an unanticipated recession triggered by the wanton destruction of Jabba's Palace leads to a decrease in tax revenues, even though government spending and transfer payments did not change.What happens to the budget balance and national debt in Tatooine as a result of the decrease in tax revenues? A) There is a budget deficit; the debt will increase. B) There is a budget deficit; no impact on national debt. C) There is a budget surplus; no impact on national debt. D) There is a budget surplus; national debt will decrease. E) There is a balanced budget; national debt will increase. Show Answer Correct Answer: A) There is a budget deficit; the debt will increase. 12. Melanie owns a bakery and has just purchased new powerful mixing machines that will increase her daily output of baked goods. This is an example of an investment in: A) Technology. B) Physical capital. C) Human capital. D) Financial capital. E) Environmental capital. Show Answer Correct Answer: B) Physical capital. 13. What act by the Federal Reserve will cause the money supply to decrease and inflation to fall? A) Buy bonds. B) Raise the discount rate. C) Sell bonds. D) Print more money. Show Answer Correct Answer: C) Sell bonds. 14. Japanese embassy in India is a part of domestic territory of A) India. B) Japan. C) International area. D) None of these. Show Answer Correct Answer: B) Japan. 15. Macroeconomics is concerned with the study of ..... A) How Malaysian respond to oil price. B) Production methods and costs. C) The effects of reduction of wages on agricultural output. D) The general price level. Show Answer Correct Answer: D) The general price level. 16. Under which of the following conditions would you prefer to be the borrower? A) The nominal rate of interest is 20 percent and the inflation rate is 25 percent. B) The nominal rate of interest is 12 percent and the inflation rate is 9 percent. C) The nominal rate of interest is 5 percent and the inflation rate is 1 percent. D) The nominal rate of interest is 15 percent and the inflation rate is 14 percent. Show Answer Correct Answer: A) The nominal rate of interest is 20 percent and the inflation rate is 25 percent. 17. Choose the Best Answer.Which country has the most unequal economy in terms of income/wealth? A) France. B) U.S. C) Brazil. D) Sweden. Show Answer Correct Answer: C) Brazil. 18. TRUE or FALSE:An example of an intermediate good would be the leather used to make shoes. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 19. Which of the following is present in both markets? A) Money. B) Land. C) Labor. D) Capital. Show Answer Correct Answer: A) Money. 20. Any effort a human devotes to a task for pay A) Land. B) Capital. C) Labor. D) Entrepreneurship. Show Answer Correct Answer: C) Labor. ← PreviousNext →Related QuizzesEconomics QuizzesMacroeconomics Quiz 1Macroeconomics Quiz 2Macroeconomics Quiz 3Macroeconomics Quiz 4Macroeconomics Quiz 5Macroeconomics Quiz 6Macroeconomics Quiz 7Macroeconomics Quiz 8Macroeconomics Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books