REVISON QUIZ_PEC2143

Macroeconomics study of economics from the viewpoint of_________.

• A. firms

• B. households

• C. the government

• D. the entire economy

2. Which of the following is true about macroeconomics?

• A. The price of chicken declined last week

• B. The income of KPTM lecturers has increased

• C. Production of cars from the Proton company increased by 5 percent

• D. The unemployment rate was 3 percent last year.

The macroeconomic objectives throughout conventional perspective is ___________.

• A. to achieve the full employment

• B. to achieve the lowest economic growth

• C. to achieve increase in general price level

• D. to ensure disequilibrium of balance of payment

 Which of the following is a macroeconomic objective from the Islamic perspective?

• A. High employment

• B. Universal education

• C. Price stability

• D. unequitable distribution of income

Increasing the moral, spiritual, and capital formation such as human capital and material capital refers to the Islamic macroeconomic objective, to achieve ___________.

• A. optimal rate of economic growth

• B. maximize the employment generation

• C. equitable distribution of income

• D. Social justice.

6. Gross Domestic Product (GDP) measures the total market value of__________.

• A. Final goods and services produced within a country in a specific time period.

• B. Final goods and services consumed within a country in a specific time period.

• C. All goods and services produced by a country’s residents, regardless of location

• D. All goods and services produced within country including intermediate goods

Gross National Product (GNP) is calculating by ___________.

• A. add net income from abroad from Gross Domestic Product (GDP)

• B. add income pay abroad from Gross Domestic Product (GDP)

• C. adding depreciation to Gross Domestic Product (GDP)

• D. deduct indirect taxes and add subsidies from Gross Domestic Product (GDP)

 Real Gross Domestic Product is measured of the____________.

• A. value of final output produced within a country in a year, using the current year price index

• B. value of final output produced within a country in a year, using price index base year.

• C. average price level in the economy

• D. total value of available resource in a nation

Which item must be added to obtain the personal income given the national income?

• A. Salary

• B. Profit from firm

• C. Pension

• D. Social security contributions

Per capita income can be obtained by ____________. 

• A. adding transfer payments to the national income

• B. subtracting the amount of population from national income

• C. divided the total income with population

• D. deducting personal income tax from personal income