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Macroeconomics Quiz 41 (30 MCQs)

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1. According to the Phillips curve, there is
2. A government tax on imports or exports
3. Policies to increase competitiveness and competition. For example, privatisation, deregulation, lower income tax rates, and reduced power of trade unions
4. Investments are Injections into the circular flow.
5. When an individual decides to hold money instead of other assets:
6. An example of a regressive tax is:
7. The multiplier is:
8. Which of the following describes scarcity?
9. To find real GDP economists measure the factors of GDP such as net exports to adjust for .....
10. When the skills of workers do not match the jobs that are available, this is:
11. If fiscal policy is used to influence the economy, this could involve changing
12. Structural unemployment is most likely to occur because of
13. Inflation is measured by .....
14. How are closely held and publicly held corporations different
15. National debt is different from the government deficits in that
16. All of the following will likely trigger increases in output except:
17. The most common form of business organization in the United States is:
18. What would MOST LIKELY happen if the Federal Reserve decided to increase the reserve requirement in banks?
19. Lower marginal tax rates stimulate people to work, save, and invest, resulting in more output and a larger tax base. This statement most closely reflects which of the following views?
20. In an economy, no one can be made better off without making someone else worse off. What does not necessarily follow from this?
21. When banks borrow money from the Federal Reserve, these funds are called
22. How do the government injects money back to the circular flow?
23. A decrease in the overall price level.
24. Mark is refinishing an antique china cabinet and has already spent $ 180 on the restoration. He expects to be able to sell the cabinet for $ 360. Mark discovers that he needs to do an additional $ 200 of work to make the cabinet worth $ 360 to potential buyers. He could also sell the cabinet now, without completing the additional work, for $ 100. What should he do?
25. Complements in production
26. You read in the newspaper that the CPI in 2008 was 120, you will conclude that a typical market basket in 2008 would have cost
27. Which of this is not a MACROECONOMICS variable
28. Workers DO NOT have transferable skills and these jobs won't come back
29. What does the (X-M) mean in the expenditure model for GDP?
30. Advantages include limited liability for owners, unlimited life, and ease of transfer of ownership.
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