AP Macro Unit 2 Test Review

AP Macro Unit 2 Test Review

9th - 12th Grade

22 Qs

quiz-placeholder

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AP Macro Unit 2 Test Review

AP Macro Unit 2 Test Review

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a worker’s nominal wage rate increases from $10 to $12 per hour and at the same time the general price level increases by 10 percent, the worker’s real wage has

approximately decreased by 10%

approximately decreased by 20%

approximately increased by 10%

approximately increased by 20%

not changed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of which of the following is counted in the United States gross domestic product?

clean air

child care a father provides for his

child

an automobile produced in Sweden by a

United States firm

a car produced in the United States and

sold in Europe

medical services not provided due to

preventative health care

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The annual inflation rate is expected to be 5 percent over the next 3 years. Juan plans to take out a 3-year loan to purchase an automobile. If Juan decides not to take out the loan if the real interest rate exceeds 3 percent, the highest nominal interest rate he is willing to pay is

2 percent

3 percent

8 percent

15 percent

25 percent

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about the national debt of the United States?

it is the debt owed to foreign investors

it is the accumulation of past and

current budget deficits and surpluses

it increases when gross domestic product

increases

it increases when exports decrease, and

decreases when exports increase

it did not exist before 1980

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An industry historically used employees with specific skills. If this industry experiences technological advances that require new skills, there will most likely be

cyclical unemployment

frictional unemployment

seasonal unemployment

structural unemployment

no change in unemployment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would cause the official unemployment rate to understate the problem of unemployment?

Workers receiving unemployment compensation

Cyclically unemployed workers

Discouraged workers

Recent college graduates looking for work

Retirees

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following individuals is classified as unemployed?

A fifteen-year-old high school student who is looking for a babysitting job

a laid-off computer programmer who has given up looking for a new job

a parent who works in an after-school day care center for 15 hours a week

a recent college graduate who is looking for her first job

a mayor who lost an election and retired

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