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Macroeconomics Exam - Fall 2020

Authored by Jeff Searcy

Social Studies

11th - 12th Grade

Used 37+ times

Macroeconomics Exam - Fall 2020
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35 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

GDP is the total market value of:

all expenditures on natural resources, labor, and capital goods in an economy in a given year.

all expenditures on consumption, investment, and net exports in an economy in a given year.

all intermediate goods and services produced in an economy in a given year.

all final goods and services produced within a nation's borders in a given year.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A period of decline in total output, income, employment, and trade, lasting six months or longer, is defined as a:

trough

business cycle

secular trend

recession

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

1. A headline in the New York Times reads: “Thousands of U. S. auto makers lose jobs to workers in Mexico.” After reading it you realize this story is a perfect example of ______________ unemployment.

frictional

seasonal

cyclical

structural

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Consumer Price Index used for?

to measure Market Structures

to measure GDP

measures changes in price of goods and services

measure money, measure products at the same dang time

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

GDP, growth, business cycles, and unemployment are all central topics in:

microeconomics

macroeconomics

utility theory

wage determination

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is included in the measure of GDP?

spending on meals by consumers at restaurants

spending on used clothing by consumers at garage sales

the monetary value of stocks and bonds owned by investors

the monetary value of used trucks purchased by construction companies

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Exports minus imports may be defined as:

net imports

net exports

net investment

foreign exchange

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