
MACRO EXAM
Authored by Lluc BresolĂ
Business
University
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170 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The unemployment rate is calculated as the ratio between
unemployment and the working age population
unemployment and employment
employment plus unemployment and unemployment
unemployment and labor force
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
It is usually the case that nominal GDP is above real GDP in years following the base year, and nominal GDP is below real GDP in years prior to the base year. The common reason for why this happens is that
real GDP in an economy tends to grow over time thanks to economic growth.
the price level tends to decrease over time.
the population of an economy tends to grow over time.
the price level tends to increase over time.
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which statement is correct?
A CPI inflation rate larger than the GDP deflator inflation rate could be explained by the increase in the cost of some production input.
A GDP deflator inflation rate larger than the CPI inflation rate can be explained by a reduction in the export prices larger than the average decrease in prices of domestically produced goods.
A GDP deflator inflation rate lower than the CPI inflation rate can be explained by an increase in the price of imported goods that is higher than the average increase in prices of domestically produced goods.
None of the answers is correct.
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
For this question, assume that 1995 is the base year. We know with certainty that
real GDP is larger than nominal GDP from 1996 to 2000.
nominal GDP is always larger than real GDP before 1995.
real GDP and nominal GDP were equal in 1995.
real GDP and nominal GDP would be equal for the entire period from 1996 to 2000.
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A period of real GDP growth is referred to as
hyperinflation
recession
inflation
expansion
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If the CPI in a country in 2000 was 200 and in 2001 was 220, the CPI inflation rate in 2001 was
30 percent
10 percent
we need to know the base year to be able to calculate the inflation rate.
we don't have enough information on the GDP deflator to calculate the inflation rate.
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
One of the reasons macroeconomists have concerns about inflation is that inflation causes
none of the answers is correct.
real GDP to exceed nominal GDP.
real GDP to rise.
nominal GDP to fall.
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