This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 158 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 158 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. An ..... operation is a purchase or sale of government debt by the Fed. A) Open-Market. B) Closed-Market. C) Discount Window. D) Central. Show Answer Correct Answer: A) Open-Market. 2. A firm faces a perfectly elastic demand curve, if ..... A) MC = MR. B) MR = AR. C) AR = MC. D) ATC = AVC. Show Answer Correct Answer: B) MR = AR. 3. What is income? A) The total amount of money spent in a particular period of time. B) An amount of money that has been leant to someone over a particular period of time to allow them to purchase a product. C) A sum of money that is owed to someone else. D) The total money received by an individual, household or company on a regular basis, for work or through investments. Show Answer Correct Answer: D) The total money received by an individual, household or company on a regular basis, for work or through investments. 4. Ben's savings from his part-time job are in a savings account paying a fixed rate of interest. A) Harmed from unanticipated inflation. B) Benefits from unanticipated inflation. C) Uncertain. D) None of above. Show Answer Correct Answer: A) Harmed from unanticipated inflation. 5. Farm helpers are unemployed when the cropping season is over. A) Frictional. B) Cyclical. C) Structural. D) Seasonal. Show Answer Correct Answer: D) Seasonal. 6. The followings are true for three (3) types of unemployment, EXCEPT A) Frictional. B) Processional. C) Cyclical. D) Structural. Show Answer Correct Answer: B) Processional. 7. T.V., radio, washing machine are examples of ..... A) Durable consumer goods. B) Semi-durable consumer goods. C) Single-use consumer goods. D) Capital goods. Show Answer Correct Answer: A) Durable consumer goods. 8. Spending on education and training to reduce labor immobility is an example of A) Interventionist supply-side policies. B) Tight fiscal policy. C) Tight monetary policy. D) Market-based supply-side policies. Show Answer Correct Answer: A) Interventionist supply-side policies. 9. A statistical series used to measure price changes for a representative sample of frequently used household items is called the A) Producer price index. B) Composite index of leading economic indicators. C) Consumer price index. D) Implicit GDP price deflator. Show Answer Correct Answer: C) Consumer price index. 10. Which is NOT a characteristic of a monopoly? A) Seller sets the market price. B) Firm sells a unique product. C) One seller. D) Entry into the market is easy. Show Answer Correct Answer: D) Entry into the market is easy. 11. Hyperinflations occur when the government runs a large budget ....., which the central bank finances with a substantial monetary ..... A) Deficit, contraction. B) Deficit, expansion. C) Surplus, contraction. D) Surplus, expansion. Show Answer Correct Answer: B) Deficit, expansion. 12. ..... are stocks of foreign currency that governments maintain to buy their own currency on the foreign exchange market. A) Foreign Exchange Reserves. B) Foreign Exchange Controls. C) Floating Exchange Rate. D) Exchange Market Intervention. Show Answer Correct Answer: A) Foreign Exchange Reserves. 13. Increases aggregate demand (an increase of purchases of goods and services, a cut in taxes, a increase in government transfers) A) Contractionary Fiscal Policy. B) Discretionary Fiscal Policy. C) Expansionary Fiscal Policy. D) Budget. Show Answer Correct Answer: C) Expansionary Fiscal Policy. 14. The ..... is the exchange rate at which the quantity of a currency demanded in the foreign exchange market is equal to the quantity supplied. A) Equilibrium Exchange Rate. B) Stable Exchange Rate. C) Currency Rate of Equilibrium. D) Currency Demand Rate. Show Answer Correct Answer: A) Equilibrium Exchange Rate. 15. What element listed is a noble gas? A) Oxygen. B) Argon. C) Phosphourous. D) Lithium. Show Answer Correct Answer: B) Argon. 16. Which of the following groups of people will benefit from unexpected inflation? A) Creditors. B) Savers. C) Consumers. D) Fixed income investors. E) Debtors. Show Answer Correct Answer: E) Debtors. 17. What is one advantage of a free market? A) Consumers have no influence over the goods and services produced. B) Producers have no incentive to meet consumer demands. C) Public goods are overproduced. D) Resources are efficiently allocated based on consumer preferences. Show Answer Correct Answer: D) Resources are efficiently allocated based on consumer preferences. 18. Those inflows of money to the government account against which no liability of repayment is created, is called A) Revenue receipts. B) Capital receipts. C) Revenue expenditure. D) Capital expenditure. Show Answer Correct Answer: A) Revenue receipts. 19. The United States has a ..... economy. A) Mixed. B) Free. C) Command. D) Unregulated. Show Answer Correct Answer: A) Mixed. 20. ..... refers to a decrease in price level. A) Hyperinflation. B) Disinflaation. C) Deflation. D) Stagflation. Show Answer Correct Answer: C) Deflation. ← 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