This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 155 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 155 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A loan can be denied by a lender because of a person's- A) Education. B) Health. C) Credit history. D) Gender. Show Answer Correct Answer: C) Credit history. 2. Importants state and local spending items include: A) Highways; public safety. B) Public safety; traffic cones. C) Crosswalks; public schools. D) Donut shoppes and grass mowing. Show Answer Correct Answer: A) Highways; public safety. 3. The government hires contractors to build and pave highways. Is this included in GDP within the expenditures model? A) YES. B) NO. Show Answer Correct Answer: A) YES. 4. ..... is concerned with how supply & demand interact in individual markets for goods and services. A) Microeconomics. B) Macroeconomics. Show Answer Correct Answer: A) Microeconomics. 5. How many possible sources of Money are there? A) 1. B) 2. C) 3. D) 4. Show Answer Correct Answer: C) 3. 6. If the Federal Reserve decreases the rate on required and excess reserves, what would be the ideal outcome? A) Real GDP decreases and deflation occurs. B) Real GDP rises and the unemployment rate increases. C) Real GDP rises and the unemployment rate decreases. D) Real GDP decreases and the unemployment rate decreases. Show Answer Correct Answer: C) Real GDP rises and the unemployment rate decreases. 7. The willingness of citizens to pay for a vaccination does not include the benefit society receives from having vaccinated citizens who cannot transmit an illness to others. This extra benefit society gets from vaccinating its citizens is known as: A) Productivity. B) An externality. C) Market power. D) Property rights. Show Answer Correct Answer: B) An externality. 8. What was the first permanent labor union; it used strikes as a tactic? A) American Federation of Labor. B) Labor Goals. C) International Workers of the World. D) Knights of Columbus. Show Answer Correct Answer: A) American Federation of Labor. 9. The net exports effect suggests that a decrease in Canada's price level relative to other countries will: A) Shift the aggregate demand curve leftward. B) Shift the aggregate supply curve leftward. C) Decrease Canada's exports and increase Canada's imports. D) Increase Canada's exports and decrease Canada's imports. Show Answer Correct Answer: D) Increase Canada's exports and decrease Canada's imports. 10. Setting the discount and interest rates establishing reserve requirements for banks buying and selling US government securities All of these are ways in which the Federal Reserve system can A) Control the stock market. B) Regulate the money supply. C) Decrease consumer spending. D) Challenge Presidential power. Show Answer Correct Answer: B) Regulate the money supply. 11. Which one of the following statements describes why the aggregate demand (AD) curve slopes downward? A) As inflation rises, real wealth declines, so people tend to demand less goods and services. B) As inflation rises, the real money supply declines, raising interest rates and discouraging investment. C) As inflation rises the Fed will tend to raise interest rates, which reduces investment and aggregate demand. D) As inflation rises, exports become more expensive and imports become more attractive to domestic consumers, lowering aggregate demand. E) All of the above. Show Answer Correct Answer: E) All of the above. 12. Which statement about the meaning of government economic aims is correct? A) Economic growth means that a country's real output must rise over time. B) Full employment means that no one must be unemployed. C) Price stability means that the price of all goods and services must remain unchanged. D) Redistribution of income means that everyone must have equal incomes. Show Answer Correct Answer: A) Economic growth means that a country's real output must rise over time. 13. ..... is the total number of people currently employed, either full time or part-time. A) The Work Force. B) Employment. C) Stagflation. D) Unemployment. Show Answer Correct Answer: B) Employment. 14. Stock prices are going up in a: A) Bear Market. B) Bull Market. C) Peak Market. D) Soft Market. Show Answer Correct Answer: B) Bull Market. 15. What is NOT characteristics of inflation A) Rise in the price level. B) Each rupiah buys a larger quantity of goods and services. C) Each dollar buys a smaller quantity of goods and services. D) Lower value of money. Show Answer Correct Answer: B) Each rupiah buys a larger quantity of goods and services. 16. Regulation can be defined as ..... A) The market's primary function in a market economy is to regulate and monitor the financial and economic system. B) The government body's primary function in a market economy is to regulate and monitor the financial and economic system. Show Answer Correct Answer: B) The government body's primary function in a market economy is to regulate and monitor the financial and economic system. 17. "There are many factors that can influence the probability of brain drain within a country" . That refers to A) Positive Macroeconomics. B) Normative Macroeconomics. Show Answer Correct Answer: B) Normative Macroeconomics. 18. National Income consist of A) A. B) B. C) C. D) D. Show Answer Correct Answer: D) D. 19. In the long run, what will happen to the slope of the aggregate supply line? A) It will become completely vertical (inelastic). B) It will curve downward. C) It will become completely horizonal (elastic). D) It does not change from short run to long run. Show Answer Correct Answer: A) It will become completely vertical (inelastic). 20. The difference between a Demand Schedule and a Demand Curve is ..... A) Demand Curve is a graphical representation of the Demand Schedule. B) A Demand Schedule is a graphical representation of the Demand Curve. C) A Demand Curve also shows supply, but a Demand Schedule doesn't. D) A Demand Schedule also shows supply, but a Demand Curve doesn't. Show Answer Correct Answer: A) Demand Curve is a graphical representation of the Demand Schedule. ← 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