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Macroeconomics Quiz 29 (30 MCQs)

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1. Eleanor is a senior in high school who tutors a freshman in high school. In exchange, she only receives free housing from the freshman's family. How would she be categorized by the BLS?
2. Which one of the following is not one of the basic economic questions?
3. If Mr. Woodward's disposable income increases from $ 600 to $ 650 and her level of personal consumption expenditures increase from $ 480 to $ 520, you may conclude that her marginal propensity to
4. The federal government buys $ 20 million worth of computers from Apple. If the MPC is 0.60, what will be the impact on aggregate demand, other things being equal?
5. Products that we can use instead of each other.
6. The population of Ectenia is 100 people:40 work full-time, 20 work half-time but would prefer to work full-time, 10 are looking for a job, 10 would like to work but are so discouraged that they have given up looking, 10 are not interested in working because they are full-time students, and 10 are retired. What is the size of the labor force?
7. You buy share in ABC company in the Internet and the brokerage charges you $ 50.
8. From the following choose the country which have highest economic welfare.
9. Monetary policy as a source of instability
10. What are the three questions all economic systems must answer?
11. Which of the following leads to depreciation? None of these
12. Long run equilibrium is the intersection of AD and LAS curves
13. Which one of the following is most likely to indicate a decrease in material living standards?
14. Value of Investment Multiplier directly related to MPC but inversely related with
15. The accelerator principle illustrates the relationship between investment and the rate of change of
16. Taking payments out of your pay before you receive it.
17. If the Federal Reserve increases the money supply, the aggregate-demand curve shifts to left
18. ..... is the market value of all final goods and services produced within a country in a given period of time.
19. This business venture is an agreement between two or more groups to form a business entity in order to achieve a specific goal or to operate for a specific period of time.
20. Who is a microeconomic decision maker?
21. Which school of economic thought arose during the stagflation of the 1970s and early 80s as an attempt to grow the economy with tax cuts?
22. Which of the following indicators is most appropriate in predicting a turningpoint in the economy?
23. The macroeconomic variables are as follows, except
24. Which of the following is a macroeconomics statement?
25. Barter trading will occur when there is
26. Income taxes are an example of which type of taxation?
27. What kind of chart would determine the impact of household savings on the nation's output of goods and services.
28. The burden of taxation should involve equal 'sacrifice', I.e. Be progressive
29. The recurrent ups and downs in the level of economic activity extending over several years is a description of:
30. A guarantee that all citizens receive unconditional access to a range of free, basic public services such as shelter, healthcare, education, and public transport
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