This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 261 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 261 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. If aggregate output equals planned aggregate expenditure, then A) Unplanned inventory investment is zero. B) Unplanned inventory adjustment is negative. C) Unplanned inventory adjustment is positive. D) Actual investment is greater than planned investment. Show Answer Correct Answer: A) Unplanned inventory investment is zero. 2. Which of the following is a cause of cost-push inflation? A) An increase in money supply. B) An increase in government expenditure on pensions. C) A rise in the price of housing. D) A rise in the cost of transporting goods. Show Answer Correct Answer: D) A rise in the cost of transporting goods. 3. Which import does the United States MOST depend on to increase its industrial productivity A) Manufactured goods. B) Computer technology. C) Raw materials. D) Energy resources. Show Answer Correct Answer: D) Energy resources. 4. The federal reserve has ..... regional Federal Reserve Banks and ..... on the Federal Reserve Board of Governors. A) 8 banks; 12 members. B) 12 banks; 8 members. C) 12 banks; 12 members. D) 8 banks; 8 members. Show Answer Correct Answer: B) 12 banks; 8 members. 5. It is studying small economic units? A) Microeconomics. B) Macroeconomics. C) Economics. D) Ergonomics. Show Answer Correct Answer: A) Microeconomics. 6. The highest point between the end of an economic expansion and the start of a contraction in a business cycle A) Peak. B) Trough. C) CPI. D) GDP. Show Answer Correct Answer: A) Peak. 7. Most government spending is ..... A) Discretionary. B) Mandatory. C) Pork-ly (?). D) Arbitrative. Show Answer Correct Answer: B) Mandatory. 8. The macdonald is the macroeconomics A) True. B) False. Show Answer Correct Answer: A) True. 9. Fiscal policy that is the direct result of deliberate actions by policymakers rather than automatic adjustments A) Expansionary Fiscal Policy. B) Contractionary Fiscal Policy. C) Discretionary Fiscal Policy. D) CPI. Show Answer Correct Answer: C) Discretionary Fiscal Policy. 10. The income, property, good, or service that is subject to a tax is known as ..... A) Tax Structure. B) Tax Base. C) Taxable Income. D) FICA Tax. Show Answer Correct Answer: B) Tax Base. 11. Workers temporarily unemployed but who normally find jobs quickly are called A) Frictionally unemployed. B) Cyclically unemployed. C) Seasonally unemployed. D) Structurally unemployed. Show Answer Correct Answer: A) Frictionally unemployed. 12. Changes in price level A) Shift the AD curve left (decrease). B) Shift the AD curve right (increase). C) Move along the AD curve. D) Shift the AS curve right (increase). E) Shift the AS curve left (decrease). Show Answer Correct Answer: C) Move along the AD curve. 13. Derives its value from the type of material from which it is composed A) Commodity Market. B) Representative Market. C) Fiat Money. D) Gold Standard Money. Show Answer Correct Answer: A) Commodity Market. 14. All of the following are examples of direct tax except ..... A) Personal income tax. B) Company tax. C) Stamp duties. D) Services tax. Show Answer Correct Answer: D) Services tax. 15. For most students, the largest single "cost" of a college education is: A) The wages given up to attend school. B) Tuition, fees, and books. C) Room and board. D) Transportation, parking, and entertainment. Show Answer Correct Answer: A) The wages given up to attend school. 16. Earning interest on interest is called A) Extra Interest. B) Simple Interest. C) Inflation Interest. D) Compound Interest. Show Answer Correct Answer: D) Compound Interest. 17. Why is the Federal Open Market Committee (FOMC) essential to US monetary policy? A) The FOMC is responsible for approving the federal budget. B) The FOMC works to reduce the federal deficit. C) The FOMC monitors the actions of financial institutions. D) The FOMC oversees open market operations. Show Answer Correct Answer: D) The FOMC oversees open market operations. 18. The U.S. National debt is an immediate cataclysmic event that could topple the government any day now A) True. B) False. Show Answer Correct Answer: B) False. 19. Which of the following creates a shortage of products? A) Price ceiling. B) Price floor. C) Equilibrium price. D) Market price. Show Answer Correct Answer: A) Price ceiling. 20. If Isaiah loses his job at the Ford plant because car manufacturing is slow due to a downturn in the economy, you can conclude that he is A) Frictionally Unemployed. B) Structurally Unemployed. C) Seasonally Unemployed. D) Cyclically Unemployed. Show Answer Correct Answer: D) Cyclically Unemployed. ← 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