Macroeconomic GDP

Economics studies

Question 1

How society manages its scarce resources social welfare ethical use of resources protection of workers' rights?

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Question 2

GAP Is the Gross Domestic Price Index

• Measures the market value of all final goods and services produced in the U. S. In a given year
• Measures the cost of inputs to factories in a given year
• Measures the unemployment rate

Question 3

Inflation results in

• A general decrease in the price level
• An increase in the number of goods that are manufactured during a given year by mommies firms
• An increase in the purchasing power of money

Question 4

Unemployment rate is calculated as the ratio of

• Number of unemployed to the number of employed workers
• Number of unemployed workers to the population.
• Number of unemployed to the adult population.
• Number of unemployed to the labor force.

Question 5

Everything else held constant, when the price of a product increases

• The quantity demanded decreases
• The quantity demanded increases
• The quantity supplied decreases
• The quantity supplied stays the same.

Question 6

When the demand of a product increases?

• The equilibrium price and quantity will decrease
• The equilibrium price and quantity will increase
• The equilibrium price will decrease and the equilibrium quantity will increase.

Question 7

In free and competitive markets, shortages always lead to

• Lower prices
• Heeler prices
• No change in prices
• Any of the above

Question 8

Business cycles are measured by fluctuations in

• Prices
• Currency exchange rate
• Real GAP
• Trade Deficit

Question 9

Recessions usually cause

• Inflation
• Hyperinflation
• Unemployment

Question 10

Inflation usually leads to

• Higher economic growth
• Higher interest rates
• More productivity

Question 11

When a country experiences high economic growth, the main cause usually is

• Higher productivity
• Higher wages
• Lower interest rates
• Higher currency value

Question 12

The largest component of a country's GAP is

• Private investment
• Government spending
• Private consumption

Question 13

If more workers Join the labor force of a country, the unemployment rate tends to

• Increase
• Decrease
• Stay the same

Question 14

Most inflation episodes are caused by

• Oil price increases
• Droughts Increases in aggregate spending
• Heeler interest rates

Question 15

Government budget deficits tend to

• Increase interest rates
• Decrease interest rates
• Decrease prices

Question 16

If the U. S. Central bank increases the money supply at a higher rate

• Aggregate spending tends to increase
• The value of the dollar tends to decrease
• Prices tend to increase
• All of the above

Question 17

If tax rates on interest-rate earnings were decreased

• Savings would decrease
• Savings would increase
• Demand for loans would increase
• Tax evasion would increase

Question 18

A depreciation of the U. S. Dollar most likely would

• Increase imports
• Increase exports

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