This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 192 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 192 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Coal, iron ore, petroleum, diesel etc. are the examples of A) Biotic resources. B) Abiotic resources. C) Renewable resources. D) Non-Renewable resources. Show Answer Correct Answer: D) Non-Renewable resources. 2. According to IMF's latest projections, what is India's estimated real output growth for FY 2023-24? A) 7.2%. B) 5.9%. C) 4.2%. D) 9.6%. Show Answer Correct Answer: B) 5.9%. 3. Which of the following creates a surplus of goods? A) Price ceiling. B) Price floor. C) Equilibrium price. D) Market price. Show Answer Correct Answer: B) Price floor. 4. A measure of how well people live, how much "stuff" people have A) Installment buying. B) Standard of living. C) Mass advertising. D) Assembly lines. Show Answer Correct Answer: B) Standard of living. 5. Demand pull inflation arises from: A) Increased cost of raw materials. B) An overall increase in demand. C) Decrease in consumer spending. D) Reduced labor costs. Show Answer Correct Answer: B) An overall increase in demand. 6. The most likely economic situation in which a government would implement contractionary fiscal policy is ..... A) Government budget surpluses. B) Government budget deficits. C) High unemployment. D) Low unemployment. E) High inflation. Show Answer Correct Answer: E) High inflation. 7. Eurostat bases its unemployment statistics on what population? A) All civilians over age 16. B) All civilians over age 21. C) All civilian, non-institutionalized people over age 15. D) All civilian, non-institutionalized people over age 21. E) All civilian, non-institutionalized, non-self-employed people over age 21. Show Answer Correct Answer: C) All civilian, non-institutionalized people over age 15. 8. Picture a gas station next to a highway. It is the only gas station for 50 miles. How might this affect prices? A) Their prices will be low, because people don't have many choices. B) Their prices may be higher, because people with cars that need gas don't have much of a choice. Show Answer Correct Answer: B) Their prices may be higher, because people with cars that need gas don't have much of a choice. 9. The general increase in the price of goods and services A) Retention. B) Gross Domestic Product. C) Unemployment. D) Inflation. Show Answer Correct Answer: D) Inflation. 10. Gross National Happiness Index is developed in ..... A) India. B) Bhutan. C) Nepal. D) Oman. Show Answer Correct Answer: B) Bhutan. 11. Which of the following is true if the production possibilities curve is a curved line concave to the origin? A) Resources are perfectly substitutable between the production of the two goods. B) It is possible to produce more of both products. C) Both products are equally capable of satisfying consumer wants. D) As more of one good is produced, more and more of the other good must be given up. Show Answer Correct Answer: D) As more of one good is produced, more and more of the other good must be given up. 12. The ....., or ....., is the difference between a country's exports and imports of goods. A) Merchandise Trade Balance; Trade Balance. B) Balance of Payments Accounts; Payment Balance. C) Balance of Payments on the Current Account; Current Account. D) Balance of Payments on the Financial Account; Financial Account. Show Answer Correct Answer: A) Merchandise Trade Balance; Trade Balance. 13. The Communist Manifesto 2. Das Kapital3. Identified Class struggle 4. Capitalism to Socialism to Communism A) John Maynard Keynes. B) Friedrich Hayek. C) Milton Friedman. D) Karl Marx. Show Answer Correct Answer: D) Karl Marx. 14. Increase in interest rate will causes: A) Capital outflows. B) Increase in exchange rate. C) Capital inflows. D) Increase in export. Show Answer Correct Answer: C) Capital inflows. 15. When income is $ 200 consumption is $ 140, and when income is $ 250 consumption is $ 180. The marginal propensity to save is A) 0.80. B) 0.75. C) 0.25. D) 0.20. Show Answer Correct Answer: D) 0.20. 16. An increase in the demand for money, with no change in the supply of money, will lead to ..... in the equilibrium quantity of money and ..... in the equilibrium interest rate. A) An increase; an increase. B) An increase; a decrease. C) A decrease; an increase. D) No change; a decrease. E) No change; an increase. Show Answer Correct Answer: E) No change; an increase. 17. CPI= A) $\frac{\cos t\ of\ basket\ in\ that\ month}{\cos t\ of\ basket\ in\ base\ period}\times100$. B) $\frac{\cos t\ of\ basket\ in\ base\ period}{\cos t\ of\ basket\ in\ that\ month}\times100$. C) $\frac{\cos t\ of\ basket\ in\ that\ year}{\cos t\ of\ basket\ in\ base\ period\ }\times100$. D) $\frac{\cos t\ of\ basket\ in\ base\ period}{\cos t\ of\ basket\ in\ that\ year}\times100$. Show Answer Correct Answer: A) $\frac{\cos t\ of\ basket\ in\ that\ month}{\cos t\ of\ basket\ in\ base\ period}\times100$. 18. A condition of economics that results from both limited resources and unlimited wants. A) Productivity. B) Microeconomics. C) Scarcity. D) Macroeconomics. Show Answer Correct Answer: C) Scarcity. 19. The business cycle is A) A bicycle ridden by an economist. B) A regular and predictable pattern of economic activity. C) The alternating increases and decreases in economic activity. D) Not a problem in modern, regulated economies. Show Answer Correct Answer: C) The alternating increases and decreases in economic activity. 20. What is most used to measure inflation? A) CPI (Consumer Price Index). B) Prime rate. C) Federal Funds rate. D) None of above. Show Answer Correct Answer: A) CPI (Consumer Price Index). ← 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