This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 240 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 240 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Macroeconomics is the study of A) Relatively large-scale units, markets and decision taken by groups of individuals within an economy. B) Relatively small-scale units, markets and decisions taken by individuals within an economy. Show Answer Correct Answer: A) Relatively large-scale units, markets and decision taken by groups of individuals within an economy. 2. A business where workers are required to join a union within a set time period after being hired. A) Union Shop. B) Labor Shop. C) Right to Work Law. D) Labor Union. Show Answer Correct Answer: A) Union Shop. 3. Real GDP measures economic well-being, good in underdeveloped countries and bad in developed countries. A) True. B) Lie. Show Answer Correct Answer: B) Lie. 4. If a person's job is replaced by technology (ie:a machine), the unemployment that results is ..... A) Cyclical. B) Structural. C) Seasonal. D) Frictional. Show Answer Correct Answer: B) Structural. 5. The risk-taker A) Land. B) Capital. C) Labor. D) Entrepreneurship. Show Answer Correct Answer: D) Entrepreneurship. 6. Individuals have the exclusive right to sell their possessions with limited government interference. A) Property rights. B) Market price. C) Law of Supply. D) Law of Demand. Show Answer Correct Answer: A) Property rights. 7. Unexpected inflation can cause: A) Redistribution of wealth. B) Reduce the value of savings. C) Neither answer A nor B. D) A and B are true. Show Answer Correct Answer: D) A and B are true. 8. Disposable income can be written as ..... [Pendapatan boleh guna boleh ditulis sebagai ..... ] A) C + I + G + T [C + I + G + T]. B) C + S = I [C + S = I]. C) C = S + I [C = S + I]. D) Y-T [Y-T]. Show Answer Correct Answer: D) Y-T [Y-T]. 9. Which of the following is not a component of the money supply in the narrow sense? A) Bank card. B) Fixed deposits. C) Daily deposits. D) All the points are correct. Show Answer Correct Answer: B) Fixed deposits. 10. It is an economic model of macroeconomics that represents the movement of goods, services, and money within the various sectors of the economy. A) RECTANGULAR-FLOW DIAGRAM MODEL. B) CIRCULAR-FLOW DIAGRAM MODEL. C) FREE-FLOW DIAGRAM MODEL. D) None of above. Show Answer Correct Answer: B) CIRCULAR-FLOW DIAGRAM MODEL. 11. The U.S. Government hired 10 Chinese-language experts, from a Chinese company based in China, to train U.S. Workers. A) GDP increases. B) GDP decreases. C) No change. D) None of above. Show Answer Correct Answer: B) GDP decreases. 12. What is the difference between the GDP deflator and the CPI? A) The GDP deflator measures the prices of all goods and services produced, while the CPI measures the prices of goods and services bought by consumers. B) The GDP deflator includes imported goods, while the CPI does not. C) The GDP deflator assigns changing weights to prices, while the CPI assigns fixed weights. D) All of the above. Show Answer Correct Answer: A) The GDP deflator measures the prices of all goods and services produced, while the CPI measures the prices of goods and services bought by consumers. 13. Increases in AD tend to cause: A) The price level to increase. B) Real GDP to decrease. C) The unemployment rate to increase. D) All of the above. Show Answer Correct Answer: A) The price level to increase. 14. Winterfell and Dorne have no restrictions on the flow of financial capital. An increase in business optimism in Dorne has lead to a higher real interest rate in Dorne.What effect does this have on real interest rates and long-run economic growth in Winterfell? A) Lower interest rates and higher economic growth in Winterfell. B) Higher interest rates and lower economic growth. C) Lower interest rates and lower economic growth. D) Neither interest rates nor economic growth in Winterfell are affected. E) Higher interest rates and higher economic growth. Show Answer Correct Answer: B) Higher interest rates and lower economic growth. 15. One year nominal GDP was $ 286 billion and the price index was 88. Real GDP that year was: A) $ 252 billion. B) $ 325 billion. C) $ 308 billion. D) $ 262 billion. Show Answer Correct Answer: B) $ 325 billion. 16. Tax based on real estate and other property. The higher value the property, the more you pay in taxes. This helps fund schools, roads, and other projects. A) Individual income tax. B) Corporate income tax. C) Property tax. D) Sales tax. Show Answer Correct Answer: C) Property tax. 17. Real domestic output of producers based on the rise and fall of the price level A) Stagflation. B) Aggregate Supply. C) Inflation. D) Aggregate Demand. Show Answer Correct Answer: B) Aggregate Supply. 18. The multiplier effect shows A) How spending is magnified in the economy. B) How much consumers can spend from their paychecks. C) How much the government can spend from their budget. D) How often the economy can survive recessions. Show Answer Correct Answer: A) How spending is magnified in the economy. 19. A shift in a supply curve demonstrates A) A change in quantity supplied. B) A change in quantity demanded. C) A change in supply. D) A change in demand. Show Answer Correct Answer: C) A change in supply. 20. ..... is the reduction in aggregate demand arising from the increase in the real burden of outstanding debt caused by deflation. A) Debt Deflation. B) Debt Inflation. C) Debt Stagflation. D) Debt Decrease. Show Answer Correct Answer: A) Debt 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