AP Macro Final

AP Macro Final

12th Grade

27 Qs

quiz-placeholder

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AP Macro Final

AP Macro Final

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Austin Simms

Used 2+ times

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27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A budget in which the receipts of the government exceed its expenditure is called:

Surplus budget

Deficit budget

Balanced budget

None of the above.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A budget in which the receipts of the government are matched by its expenditure is known as:

Balanced budget

Surplus budget

Deficit budget

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

____ is a systematic record of all the economic transaction between one country and rest of the world:

Balance of Payments

Gross Domestic Product

Fiscal Policy

Trade Agreement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unions can lead to different wages in a business because:

unions can threaten to strike or use collective bargaining to negotiate higher wages for union members

unions enjoy higher production

unions will agree to create similar wages with non-union members

unions lower the company costs in general

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following describes a state of the labour market which is often linked to a lower wage for those employed?

Monopsony

Strong trade unions

National minimum wage

Highly skilled occupation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The situation wherein a person who is able and willing to work is unable to find a suitable job is called?

Unemployment

Employment

Full Employment

Under Employment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term describes unemployment that is due to the business cycle and growth and contraction of the economy?

Cyclical Unemployment

Employment

Full Employment

Under Employment

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