Macroeconomics

Which of the following is NOT a factor that economists would look at to determine economic health?

• CPI

• GDP

• Price Elasticity

• Unemployment

The yearly total value of all finished good/services produced within a a country is known as...

• Gross Domestic Product

• Consumer Price Index

• Multiplier Effect

• Aggregate Supply

Unemployment that results from recessions would be considered...

• Frictional

• Structural

• Cyclical

• Marginal

Consumer Price Index (CPI) is a measurement of...

• Inflation

• Unemployment

• Exchange Rates

• International Trade

If a person's job is replaced by technology (ie: a machine), the unemployment that results is..

• Cyclical

• Structural

• Seasonal

• Frictional

C + I + G + (X-M) = ???

• GDP

• CPI

• Unemployment

• None answer is correct

What strategy would economists advocate for if the economy is in a recession?

• Balance of Trade

• Balance of payments

• Expansionary Policy

• Contractionary Policy

The government raises taxes or decreases spending, what policy is being exercised?

• Expansionary Fiscal Policy

• Contractionary Fiscal Policy

• Expansionary Monetary Policy

• Contractionary Monetary Policy

The amount of debt that a country accumulates in one fiscal year is known as...

• Budget Deficit

• Contraction

• Bankruptucy

• National Dept

Fiscal policy can help lower inequality through fiscal redistribution.

• True

• False

• Depends on the size of the economy