This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 113 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 113 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. If people are made unemployed because of a fall in aggregate demand this is known as: A) Cyclical unemployment. B) Frictional unemployment. C) Structural Unemplyment. D) Seasonal Unemployment. Show Answer Correct Answer: A) Cyclical unemployment. 2. As consumer confidence fell and the economy experienced a downturn, Bob was laid-off from his job at Cisco Systems. Bob has been looking for a new job, but it seems no one is hiring right now. Bob is experiencing which type of unemployment? A) Seasonal Unemployment. B) Cyclical Unemployment. C) Structural Unemployment. D) Frictional Unemployment. Show Answer Correct Answer: B) Cyclical Unemployment. 3. Economic growth is one of the factors affecting ..... A) AD CURVE. B) AS CURVE. Show Answer Correct Answer: B) AS CURVE. 4. When a business provides goods or services, it receives ..... in return. A) Income. B) Profit. C) Capital. D) Wages. Show Answer Correct Answer: A) Income. 5. Fiscal policy is..... A) Policies implemented by the government by regulating the state revenue and expenditure budget. B) Policies implemented by the government by regulating the state budget. C) Policies implemented by the government by regulating the money supply and/or changing the demand for money. D) All true. E) All wrong. Show Answer Correct Answer: A) Policies implemented by the government by regulating the state revenue and expenditure budget. 6. How is a general partnership organized? A) Every partner shares equally in both responsibility and liability. B) The doctors, lawyers, or accountants who form a general partnership hire others to run the partnership. C) No partner is responsible for the debts of the partnership beyond his or her investment. D) Only one partner is responsible for the debts of the partnership. Show Answer Correct Answer: A) Every partner shares equally in both responsibility and liability. 7. An increase in the Consumer Price Index is commonly referred to as A) Economic growth. B) Inflation. C) Unemployment. D) Discouraged workers. E) Deflation. Show Answer Correct Answer: B) Inflation. 8. Which of the following is related to macroeconomics? A) An empirical analysis of general price levels and unemployment rates since 1999. B) A study of how hiring more foreign workers affect the construction sector. C) An investigation of petrol price increases and the impact on Malaysians. D) An examination of the income of IT graduates. Show Answer Correct Answer: A) An empirical analysis of general price levels and unemployment rates since 1999. 9. The following are the goal of macroeconomics EXCEPT A) Equitable distribution of income. B) High unemployment. C) Economic growth. D) Price stability. Show Answer Correct Answer: B) High unemployment. 10. A healthcare program for the elderly and disabled A) Social security. B) Medicare. C) State income tax. D) Federal income tax. Show Answer Correct Answer: B) Medicare. 11. When the labour market is in equilibrium there will be no A) Seasonal unemployment. B) Frictional unemployment. C) Structural unemployment. D) Demand deficient unemployment. Show Answer Correct Answer: D) Demand deficient unemployment. 12. The U.S. has a trade ..... with Tuvalu A) Deficit. B) Surplus. Show Answer Correct Answer: B) Surplus. 13. What is the total value of all goods and services produced in a country each year? A) Gross Domestic Product. B) Inflation. C) Consumer Price Index. D) Unemployment Rate. Show Answer Correct Answer: A) Gross Domestic Product. 14. $\Delta k=sf\left(k\right)-\left(\delta+n\right)k$ A) Equation of motion for k with population growth. B) False. Show Answer Correct Answer: A) Equation of motion for k with population growth. 15. An economy where economic decisions are decentralized, private individuals own resources, and business supply good and services based on demand A) Command Market. B) Market Economy. C) Division of Labor. D) Imports. Show Answer Correct Answer: B) Market Economy. 16. Which of the following is NOT a an exmaple of one of the four factors of production? A) A quarter. B) Bill Gates. C) A factory. D) Oil. Show Answer Correct Answer: A) A quarter. 17. According to Friedman, people plan their consumption based on ..... A) Measured income. B) Absolute income. C) Relative income. D) Permanent income. Show Answer Correct Answer: D) Permanent income. 18. An economy is in recession with price deflation and rising unemployment. All other things being equal, which one of the following combination of policies would be most appropriate in these circumstances? A) Low interest rates, a higher budget deficit and a depreciation of the pound. B) Low interest rates, expansion of the money supply and an appreciation of the pound. C) Higher government spending, higher taxes and a contraction of the money supply. D) Higher government spending, higher interest rates and an appreciation of the pound. Show Answer Correct Answer: A) Low interest rates, a higher budget deficit and a depreciation of the pound. 19. The total market value of all final goods and services produced within the borders of a country. A) Gross Domestic Product GDP. B) Gross National Product GNP. C) Consumer Price Index CPI. D) Social Progress Index SPI. Show Answer Correct Answer: A) Gross Domestic Product GDP. 20. According to the ....., the real quantity of money is always at its long-run equilibrium level. A) Classical Model of the Price Level. B) Keynesian Model of the Price Level. C) Supply-Side Model of the Price Level. D) None of above. Show Answer Correct Answer: A) Classical Model of the Price Level. ← 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