Econ Un3 Macroeconomics

Quiz
•
Social Studies
•
12th Grade
•
Medium

Georgia Powell
Used 38+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer confidence falls, which causes consumers to save their money & postpone big purchases. What is the immediate effect on aggregate demand, price level & aggregate supply?
AD decreases, price level decreases & unemployment decreases
AD decreases, lowering both real GDP & the price level
AS will decrease, raising the price level & lowering real GDP
AS will increase, price level decreases & real GDP will increase
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which situation below is MOST negatively affected by unanticipated inflation?
Banks that loaned money at a fixed rate
Farmers with fixed rate mortgages
Businesses that profit from credit sales
Convenience stores that sell staple goods.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which person below would be considered frictionally unemployed?
Joe, who has recently entered the labor force
SuzyQ, whose skills are no longer needed
Lola, who is a full time college student
Jim, whose parents shut down the family farm
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary role of money in the economy?
It helps set interest rates at financial institutions
It identifies prices in various markets
It provides a mechanism to assist foreign trade
It serves as a medium of exchange for goods & services
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these tools is an example of monetary policy?
Borrowing through deficit spending
Changing reserve requirements
Increasing government spending
Reducing income taxes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would the Federal Reserve do if it wanted to stimulate the U.S. economy & reduce unemployment?
Cause interest rates to decrease because low interest rates encourage business growth & expansion
Cause interest rates to rise because high interest rates bring more money into the economy
Decrease the discount rate it charges banks, which would increase the money supply
Increase consumer spending by reducing the money supply.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is primarily responsible for the control of the money supply?
Comptroller of the Currency
Federal Deposit Insurance Corporation
Federal Reserve System
United States Treasury
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