Macroeconomics

What are the two main parts into which economics is divided?

• Inflation and Deflation

• Goods and Services

• Supply and Demand

• Microeconomics and Macroeconomics

What does macroeconomics study?

• Consumer behavior

• Business spending

• Economic aggregates

• Individual markets

What does GDP stand for?

• General Domestic Product

• Government Debt Percentage

• Gross Domestic Product

• Gross Domestic Policy

Which one is not included in GDP?

• The value of newly produced cars

• Money spent on education

• Transactions involving vintage goods

• Government spending on infrastructure

What is Real GDP adjusted for?

• Interest rates

• Inflation

• Population growth

• Unemployment

What was the unemployment rate in Greece?

• Around 20%

• Exactly 15%

• Less than 10%

• Over 25%

Which type of unemployment is due to a recession?

• Frictional unemployment

• Seasonal unemployment

• Cyclical unemployment

• Structural unemployment

What is the goal of the unemployment policy?

• To achieve 0% unemployment

• To limit unemployment

• To increase labor force participation

• To decrease wages

What does deflation encourage people to do?

• Increase borrowing

• Spend more immediately

• Save money expecting further price drops

• Invest in stocks

What is the most important measure of an economy?

• Interest rates

• Gross Domestic Product

• Unemployment rate

• Inflation rate