This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Congress almost approved a $ 400 million project to build a "bridge to nowhere" in Alaska back in 2005. This is an example of ..... spending. A) Beef. B) Pork. C) Chicken. D) Spam. Show Answer Correct Answer: B) Pork. 2. Which of the following statements do not apply to investment in new technology? A) It involves encouraging spending on R&D. B) It has no impact on AD, but shifts AS to the right. C) Funding for maths, science and technology education is an example of such investment. D) It includes permitting tax credits for firms that invest in R&D. Show Answer Correct Answer: B) It has no impact on AD, but shifts AS to the right. 3. The price of one nation's currency expressed in terms of another's currency is called A) World price. B) Exchange rate. C) Purchasing power parity. D) Terms of trade. Show Answer Correct Answer: B) Exchange rate. 4. Identify which items below are correctly is not correctly matched A) Labor sold by households = Resource Market. B) Labor sold by households = Product Market. C) Computers sold by businesses = Product Market. D) Computers bought by households = Product Market. Show Answer Correct Answer: B) Labor sold by households = Product Market. 5. Refers to government revenue, spending, and debt A) Fractional Reserve Banking. B) Legal Reserves. C) Fiscal. D) Reserve system. Show Answer Correct Answer: C) Fiscal. 6. Another name for a "planned economy" is: A) Market. B) Traditional. C) Communist. D) China. Show Answer Correct Answer: C) Communist. 7. How do you calculate a budget deficit? A) Revenue-expenses. B) Expenses-revenue. C) Revenue-debt. D) Debt-revenue. Show Answer Correct Answer: A) Revenue-expenses. 8. Banks chartered, or licensed, by state governments A) State Banks. B) National Banks. C) Country Banks. D) Local Banks. Show Answer Correct Answer: A) State Banks. 9. The percentage change in quantity of goods and services produced from one year to another is called ..... A) Per Capita Income. B) Growth rate. C) Gross Domestic Product. D) Real income. Show Answer Correct Answer: B) Growth rate. 10. If an economy is experiencing a contraction or recession, what phase of the business cycle would they experience next? A) Expansion. B) Recovery. C) Peak. D) Trough. Show Answer Correct Answer: D) Trough. 11. How much does the product of an economy vary, what is the spending and tax multiplier with the following information? Increase of 100 in the TAIncrease of 100 in the GMarginal propensity to consume of 0.5 A) T multiplier =1G multiplier =2Change in Y = 100. B) Multiplier T = 2Multiplier G = 1Change in Y = 100. C) T multiplier =-1G multiplier =2Change in Y=100. D) T multiplier =-1G multiplier =2Change in Y =-100. Show Answer Correct Answer: C) T multiplier =-1G multiplier =2Change in Y=100. 12. An increase in which of the following would cause the long-run aggregate supply curve to shift to the right? A) Corporate income tax rates. B) Aggregate demand. C) Labor productivity. D) The average wage rate. E) The price level. Show Answer Correct Answer: C) Labor productivity. 13. The phrase "a change in demand" most directly implies a A) Movement along the curve. B) Movement along the price curve. C) Change in quantity demanded of a good. D) Shift in the demand curve. Show Answer Correct Answer: D) Shift in the demand curve. 14. When economists collect statistics on production, income, investment, and savings A) National Income Accounting. B) Gross Domestic Product. C) Expenditures Approach. D) Income Approach. Show Answer Correct Answer: A) National Income Accounting. 15. A surplus budget is one where A) Government revenue is less than government spending. B) Government revenue exceeds government expenditure. C) Spending on imports exceeds export earnings. D) Spending on imports is less than export earnings. Show Answer Correct Answer: B) Government revenue exceeds government expenditure. 16. During the Great Recession of 2008 many realtors and builders lost their jobs because of a slowing economy. What type of unemployment did they experience? A) Cyclical. B) Structural. C) Seasonal. D) Frictional. Show Answer Correct Answer: A) Cyclical. 17. What is the main focus of macroeconomics? A) Studying economic aggregates. B) Analyzing individual consumer behavior. C) Calculating market prices. D) Predicting stock market trends. Show Answer Correct Answer: A) Studying economic aggregates. 18. A country can have an absolute advantage in everything they produce. A) True. B) False. Show Answer Correct Answer: A) True. 19. The real interest rate is the lost opportunity cost of investment. A) True. B) Lie. Show Answer Correct Answer: A) True. 20. Comparing real GDP between two consecutive years is MOST useful in determining which economic measurement? A) Equity. B) Exchange rate. C) Economic growth. D) Equilibrium price. Show Answer Correct Answer: C) 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