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Macro Unit 3 review

Authored by Yuyuan ZHANG

Education

10th Grade

Used 4+ times

Macro Unit 3 review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the cost of production increases, the price and equilibrium quantity will most likely change in which of the following ways?

P increases, Q decreases

P increases, Q increases

P decreases, Q increases

P decreases, Q decreases

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one can cause both a decrease in P & Q?

D decreases, S decreases

D decreases, S unchange

D unchange, S increases

D unchanged, S decreases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Along a demand curve from left to right, the elasticity changes from

Inelastic, unit elastic, elastic

Unit elastic, elastic, inelastic

elastic, unit elastic, inelastic

elastic, inelastic, unit elastic

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If consumer spending increases, how will real GDP and price level be affected?

rGDP increases, PL decreases

rGDP increases, PL increases

rGDP decreases, PL increases

PL unchange, rGDP increases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The formula to calculate tax multiplier is

1-MPC

1/(1-MPC)

MPC/MPS

MPS/MPC

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 If the government wants to close a recessionary gap, which policy is matched to the change in policy, output and price level?

Decrease spending, PL&output increases

Increases spending, PL decreases and output increases

Increases taxes, PL decreases and output decreases

Decrease taxes, PL increases and output increases

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 If an increase in taxes of $100 billion decreases equilibrium output by a total of $400 billion, then the marginal propensity to consume must be at least

0.2

0.8

0.25

0.75

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