This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 123 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 123 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A gradual, steady increase in the prices of goods and services A) Stagflation. B) Influence. C) Inflation. D) Consumer price index. Show Answer Correct Answer: C) Inflation. 2. Find the unemployment rate.Labor force= 10, 000Employed = 4, 000 A) 66 %. B) 40 %. C) 60%. D) 33%. Show Answer Correct Answer: C) 60%. 3. During an expansion what would you do to prevent inflation? A) Lower the base rate. B) Raise the base rate. Show Answer Correct Answer: B) Raise the base rate. 4. Work that requires no specialized skills education or training A) Derived demand. B) Productivity of labor. C) Equilibrium wage. D) Unskilled labor. E) Semi-skilled labor. Show Answer Correct Answer: D) Unskilled labor. 5. Paper money and coins A) Money. B) Wages. C) Currency. D) Near Money. Show Answer Correct Answer: C) Currency. 6. A work stoppage A) Strike. B) Quitting. C) Leaving. D) Firing. Show Answer Correct Answer: A) Strike. 7. If Japan exports more than it imports, A) Japan's net exports are negative. B) Japan's net capital outflow must be negative. C) Japan's net capital outflow must be positive. D) Japan is running a trade deficit. Show Answer Correct Answer: C) Japan's net capital outflow must be positive. 8. In a year when the federal government spends more money than it collects in taxes, the immediate result is A) The federal budget deficit. B) An increase in GDP. C) A decrease in GDP. D) A federal budget surplus. Show Answer Correct Answer: A) The federal budget deficit. 9. Which country has the highest GDP? A) Russia. B) China. C) United States. D) Japan. E) Germany. Show Answer Correct Answer: C) United States. 10. A way to measure if prices are going up or down for things people buy. A) Consumer Price Index (CPI). B) Unemployment rate. C) Gross Domestic Product (GDP). D) Inflation. Show Answer Correct Answer: A) Consumer Price Index (CPI). 11. Who does the FOMC consist of? A) 7 Fed District Presidents and 5 Board of Governors. B) 12 Board of Governors. C) 7 Board of Governors and 5 Fed District Presidents. D) 12 Fed District Presidents. Show Answer Correct Answer: C) 7 Board of Governors and 5 Fed District Presidents. 12. Suppose a bank has RM200, 000 in deposits and RM190, 000 in loans. It hasloaned out all it can. It has a reserve ratio of A) 2.5 percent. B) 5 percent. C) 9.5 percent. D) 10 percent. Show Answer Correct Answer: B) 5 percent. 13. By engaging in the trade of goods and services with one another, the members of an economy can all be better off. This is due to ..... A) Scarcity. B) Specialization. C) Allocative efficiency. D) Entrepreneurship. Show Answer Correct Answer: B) Specialization. 14. One measure of the economy macroeconomists pay attention to to study the pace of growth in the economy is A) Supply. B) Inflation. C) Demand. D) Equilibrium price. Show Answer Correct Answer: B) Inflation. 15. What are the three criteria to be counted unemployed? A) 16+ years, paid jobs, not seeking employment. B) 16+ years, no paid jobs, seeking employment. C) 15+ years, no paid jobs, not seeking employment. D) 14+ years, no paid jobs, seeking employment. Show Answer Correct Answer: B) 16+ years, no paid jobs, seeking employment. 16. Expansionary fiscal policy will A) Not shift the aggregate demand curve. B) Shift the short-run aggregate supply curve to the left. C) Shift the aggregate demand curve to the left. D) Shift the aggregate demand curve to the right. Show Answer Correct Answer: D) Shift the aggregate demand curve to the right. 17. Which one of the following combinations, is most likely to occur in the recovery phase of the economic cycle? A) Decrease in GDP, increase in inflation rate, increase in unemployment, decrease in investment. B) Increase in GDP, decrease in inflation rate, decrease in unemployment, increase in investment. C) Increase in GDP, increase in inflation rate, decrease in unemployment, increase in investment. D) Increase in GDP, decrease in inflation rate, increase in unemployment, decrease in investment. Show Answer Correct Answer: C) Increase in GDP, increase in inflation rate, decrease in unemployment, increase in investment. 18. Suppose the Marginal Propensity to Consume (MPC) equals 75%. If the income, Y, rises by 100 and at the same time taxes, T, increase by 20 then the consumption changes by A) 100. B) 80. C) 75. D) 60. Show Answer Correct Answer: D) 60. 19. An example of a government transfer is a(n): A) Salary earned as an economist with a government agency. B) Expenditure on an interstate highway. C) Salary for members of the armed forces. D) Social Security payment. Show Answer Correct Answer: D) Social Security payment. 20. Changes in gross domestic product MOST directly measure A) Price inflation. B) Economic growth. C) Employment rates. D) Aggregate demand. Show Answer Correct Answer: B) Economic growth. ← 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