This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Macroeconomics – Quiz 91 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Macroeconomics Quiz 91 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. This type of fiscal policy increases aggregate demand. A) Expansionary. B) Contractionary. C) Discretionary. D) None of above. Show Answer Correct Answer: A) Expansionary. 2. Allocativly efficient A) Markets that are characterized by many buyers and many sellers. B) A model that shows the flow of goods and services and the interaction among households, businesses, and banks. C) Advantagethe ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors. D) A property of an efficient market whereby all goods and services are optimally distributed among buyers in an economy. Show Answer Correct Answer: D) A property of an efficient market whereby all goods and services are optimally distributed among buyers in an economy. 3. A carpenter is able to operate complex machinery and can perform their job with little supervision. This type of job falls under the category of ..... A) Unskilled labor. B) Semi-skilled labor. C) Skilled labor. D) Professional labor. Show Answer Correct Answer: C) Skilled labor. 4. Behavior modification is which type of tax? A) Sales. B) Individual. C) Sin. D) Redistribution. Show Answer Correct Answer: C) Sin. 5. If you place a part of your summer earnings as cash in a safety deposit box, you are employing money as A) A store of value. B) A medium of exchange. C) A measure of value of account. D) A standard of deferred payment. Show Answer Correct Answer: A) A store of value. 6. All of the following are tools of monetary policy but ..... A) Reserve requirment. B) Open market operations. C) Interest payments on reserves. D) Discount rate. E) Deposit destination. Show Answer Correct Answer: E) Deposit destination. 7. The aggregate of demand and the aggregate of supply study of relationship between A) The price level and unemployment. B) The price level and real GDP. C) Unemployment and real GDP. D) Nominal GDP and inflation. Show Answer Correct Answer: B) The price level and real GDP. 8. Which of the following is most likely included in gross domestic product? A) Matt gives his secondhand bicycle to his brother. B) Sal paints his own bicycle. C) Ali buys a new bicycle. D) Mike buys a share of stock in a bicycle firm. E) Daniel bikes to school every day. Show Answer Correct Answer: C) Ali buys a new bicycle. 9. Which is not a tool of fiscal policy? A) Government expenditure. B) Government borrowing. C) Bank rate. D) Tax. Show Answer Correct Answer: C) Bank rate. 10. What consumer behavior is the Federal Reserve Board trying to encourage when it implements a loose monetary policy? A) Increased saving and spending. B) Decreased saving and spending. C) Increased saving and reduces spending. D) Decreased saving and increased spending. Show Answer Correct Answer: D) Decreased saving and increased spending. 11. A partnership in which all partners assume full personal liability for debts of the firm A) Limited partnership. B) Trading partnership. C) Non-trading partnership. D) General partnership. Show Answer Correct Answer: D) General partnership. 12. When the demand curve shifts to the left, this suggests demand has A) Increased. B) Decreased. C) Quantity demanded has increased. D) Quantity demanded has decreased. Show Answer Correct Answer: B) Decreased. 13. Calculate GDP using Expenditure Approach (# in Bn$ )-Consumption 200$ , Government Spending 100$ , Family Spending on Travel 50$ , Investment 100$ , Exports 300$ and Imports 370$ ? A) 1120. B) 330. C) 750. D) I did not pay attention. Show Answer Correct Answer: B) 330. 14. Do people have private property in a "planned economy" ? A) Yes. B) No. Show Answer Correct Answer: B) No. 15. What curve that explains the short-run tradeoff between inflation and unemployment? A) Macro Curves. B) Phillips Curve. C) IS-LM Curves. D) PPF Curves. Show Answer Correct Answer: B) Phillips Curve. 16. ..... are exchange rates adjusted for international differences in aggregate price levels. A) Real Exchange Rates. B) Nominal Exchange Rates. C) Aggregate Exchange Rates. D) Disaggregate Exchange Rates. Show Answer Correct Answer: A) Real Exchange Rates. 17. ..... taxes are designed to take a larger percentage of high incomes as compared to lower incomes. A) Progressive. B) Regressive. C) Proportional. D) Negative. Show Answer Correct Answer: A) Progressive. 18. Explaining how technological change affects worker productivity A) Macroeconomics. B) Microeconomic. Show Answer Correct Answer: A) Macroeconomics. 19. When the US is is making more money than it is spending, it is operating in a A) Deficit. B) Suprlus. C) Interest. D) IOU. Show Answer Correct Answer: B) Suprlus. 20. The rate at which a consumer is willing to trade one good for another A) Economic utility. B) Marginal rate of substitution. C) Product surplus. D) None of above. Show Answer Correct Answer: B) Marginal rate of substitution. ← 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