Macro Economic questions Part I
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1 Macro Economic questions Part I
2 Question Budget Rental Car buys new automobiles for its business from a U.S. company. The value of transaction would be included in which category of the GDP? a. consumer sector b. investment sector c. government sector d. net exports
3 Answer Budget Rental Car buys new automobiles for its business from a U.S. company. The value of transaction would be included in which category of the GDP? a. consumer sector b. investment sector c. government sector d. net exports
4 Question All of the following are basic components of calculating GDP EXCEPT the a. income sector b. consumption sector c. government sector d. investment sector
5 Answer All of the following are basic components of calculating GDP EXCEPT the a. income sector b. consumption sector c. government sector d. investment sector
6 Question When looking at macroeconomic figures that measure the supply and demand for all products in an entire nation, rather than just one product at a time, these measurements are a. business cycles b. consumer price indexes c. inflation and GDP d. aggregate demand and aggregate supply
7 Answer When looking at macroeconomic figures that measure the supply and demand for all products in an entire nation, rather than just one product at a time, these measurements are a. business cycles b. consumer price indexes c. inflation and GDP d. aggregate demand and aggregate supply
8 Question If the government funds training programs to teach computer repair and website design to unemployed adults, the type of unemployment would this training most address is a. frictional b. seasonal c. structural d. cyclical
9 AnswerIf the government funds training programs to teach computer repair and website design to unemployed adults, the type of unemployment would this training most address is a. frictional b. seasonal c. structural d. cyclical
10 Question If aggregate demand and real GDP are beginning to fall and unemployment is beginning to rise, what conclusion could you draw? a. The economy is in recovery b. The economy is facing a contraction c. Aggregate supply will cause prices to rise d. The economy has reached its trough
11 Answer If aggregate demand and real GDP are beginning to fall and unemployment is beginning to rise, what conclusion could you draw? a. The economy is in recovery b. The economy is facing a contraction c. Aggregate supply will cause prices to rise d. The economy has reached its trough
12 Question Which of the following is NOT a characteristic of a depression? a. Businesses fail leaving industrial resources idle b. Widespread hyper-unemployment c. A boom in the stock market d. Consumer goods are in short supply
13 Answer Which of the following is NOT a characteristic of a depression? a. Businesses fail leaving industrial resources idle b. Widespread hyper-unemployment c. A boom in the stock market d. Consumer goods are in short supply
14 Question The Consumer Price Index is a measure of a. gross domestic product b. aggregate supply c. Inflation d. unemployment rate
15 Answer The Consumer Price Index is a measure of a. gross domestic product b. aggregate supply c. Inflation d. unemployment rate
16 Question If employees are long-term unemployed, or in the process of re-entering the work force and begin searching for jobs, he/she is a. Cyclically unemployed b. Technically unemployed c. Structurally unemployed d. Frictionally unemployed
17 Question If prices are rising but real GDP is falling, the economy is likely experiencing a. stagflation b. inflation c. economic decline d. a decrease in the labor force
18 Answer If prices are rising but real GDP is falling, the economy is likely experiencing a. stagflation b. inflation c. economic decline d. a decrease in the labor force
19 Question In order to gain an accurate measurement of how much the economy is growing over a period of time, economists adjust figures for inflation. The resulting value is referred to as a. nominal GDP b. consumer pricing indices c. real GDP d. national Income
20 Answer In order to gain an accurate measurement of how much the economy is growing over a period of time, economists adjust figures for inflation. The resulting value is referred to as a. nominal GDP b. consumer pricing indices c. real GDP d. national Income
21 Question Which of the following individuals is considered by economists as NOT being unemployed? a. worker filing for unemployment b. discouraged worker who is now actively looking for employment c. recent college student applying for his first job d. felon serving time in prison
22 Answer Which of the following individuals is considered by economists as NOT being unemployed? a. worker filing for unemployment b. discouraged worker who is now actively looking for employment c. recent college student applying for his first job d. felon serving time in prison
23 Question Inflation would MOST likely be caused by: a. Congress extending funding for unemployment benefits b. workers being laid off c. increases in wages and salaries d. GDP decreasing
24 Answer Inflation would MOST likely be caused by: a. Congress extending funding for unemployment benefits b. workers being laid off c. increases in wages and salaries d. GDP decreasing
25 Question If aggregate demand exceeds aggregate supply the economy is likely experiencing economic a. expansion b. contraction c. stability d. stagnation
26 Answer If aggregate demand exceeds aggregate supply the economy is likely experiencing economic a. expansion b. contraction c. stability d. stagnation
27 Question Which transaction would be included in the investment category of the GDP? a. Parents purchase a new computer for their son b. The Police department purchases new patrol cars c. A Canadian manufacturer places an order for American-made industrial equipment d. Newlyweds purchase a new home
28 Answer Which transaction would be included in the investment category of the GDP? a. Parents purchase a new computer for their son b. The Police department purchases new patrol cars c. A Canadian manufacturer places an order for American-made industrial equipment d. Newlyweds purchase a new home
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