This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 264 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 264 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. This type of businesses raises large amounts of capital (money that can be used to invest in the business) through the selling of stocks A) Partnership. B) Corporation. C) Sole proprietorship. D) None of above. Show Answer Correct Answer: B) Corporation. 2. Someone without a job a job who has quit looking A) Intermediate Goods. B) Discouraged Worker. C) Structural Unemployment. D) Seasonal Unemployment. Show Answer Correct Answer: B) Discouraged Worker. 3. A diagram shows an inward shift in the aggregate demand curve for an economy. A fall in the price level of 0P to 0P1 could be explained by an increase in A) Interest rates. B) Money wages. C) Labour productiivity. D) Inward investment. Show Answer Correct Answer: A) Interest rates. 4. If you buy pizza from a restaurant instead of making the identical product at home, how have you impacted GDP? A) GDP increases. B) GDP decreases. C) GDP remains unchanged. D) GDP cannot be measured. Show Answer Correct Answer: A) GDP increases. 5. Supply curve A) Human and physical. B) The action of buying and selling goods and services. C) A curve that shows the relationship between the price of a product and the quantity of the product supplied. D) Total satisfaction or benefit from consuming a good or service. Show Answer Correct Answer: A) Human and physical. 6. The unemployment rate equals A) Labor force/population. B) Unemployed/employed. C) (employed-unemployed)/labor force. D) (labor force-employed) / labor force. Show Answer Correct Answer: D) (labor force-employed) / labor force. 7. A permanent reduction in demand for a single product will cause A) Structural unemployment. B) Frictional unemployment. C) Voluntary unemployment. D) Cyclical unemployment. Show Answer Correct Answer: A) Structural unemployment. 8. ..... companies that produce more can utilize mass production techniques and spread out fixed costs over many units A) Productivity. B) Marginal cost. C) Economies of scale. D) None of above. Show Answer Correct Answer: C) Economies of scale. 9. Which of the following is not the result of increase in economic welfare, when the national income increases? A) Increase in subsidy spending by the government. B) Increased production in the defense sector at the cost of other sector. C) Reduction in Price Level. D) Rational increase in taxes on the rich. Show Answer Correct Answer: B) Increased production in the defense sector at the cost of other sector. 10. Is this counted in the GDP of the US?Cars made by a Japanese company in California. A) Yes. B) No. Show Answer Correct Answer: A) Yes. 11. What is a producer? A) Someone who makes and sells goods and services. B) Someone who buys and uses goods and services. C) Someone who thinks of ideas about goods and services. D) Someone who enjoys the use of goods and services. Show Answer Correct Answer: A) Someone who makes and sells goods and services. 12. What body of the Federal Reserve oversees the purchase and sale of government securities/bonds? A) Federal Open Market Committee. B) Advisory Council. C) Board of Governors. D) Federal Reserve Bank of Dallas. Show Answer Correct Answer: A) Federal Open Market Committee. 13. When does deflation occur? A) When the inflation rate rises above 0%. B) When Mr. King gets mad. C) When the inflation rate falls below 0%. D) When Mr. King is happy. Show Answer Correct Answer: C) When the inflation rate falls below 0%. 14. In the circular flow model, what do individuals receive from businesses in return for their labor? A) Services. B) Money. C) Resources. D) D Goods. Show Answer Correct Answer: B) Money. 15. Standard of living A) GDP on a per-person basis; GDP divided by population. B) Material well-being of an individual, measured by how well their needs and wants are satisfied. C) How the government uses taxes and spending to reach economic goals. D) Purchase or sale of U.S. government bonds and treasury bills. Show Answer Correct Answer: B) Material well-being of an individual, measured by how well their needs and wants are satisfied. 16. Unemployment that is directly related to swings in the business cycle is A) Frictional unemployment. B) Structural unemployment. C) Cyclical unemployment. D) Seasonal unemployment. Show Answer Correct Answer: C) Cyclical unemployment. 17. What can Congress do to enable crowding in to take place? A) Decrease reserve requirement ratios. B) Increase government spending. C) Increase taxes. D) None of above. Show Answer Correct Answer: C) Increase taxes. 18. Which of the following terms refers to the trade between countries and markets around the world? A) Macroeconomics. B) GDP. C) Inflation. D) Global Economy. Show Answer Correct Answer: D) Global Economy. 19. Which of the following is an example of structural unemployment? A) A computer programmer who leaves her job to move to Florida. B) A worker who loses his job during a recession. C) An autoworker who is replaced by a robot. D) A construction worker who is always unemployed during the winter months. E) A worker who is engaged in unproductive work. Show Answer Correct Answer: C) An autoworker who is replaced by a robot. 20. In the circular flow diagram of a market economy, which of the following supplies the factors of production? A) The business sector. B) The government. C) The household sector. D) Financial sector. E) The foreign sector. Show Answer Correct Answer: C) The household sector. ← 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