Macroeconomics Test 1

Which of the following deals with macroeconomics issues.

• The price of shoes.

• The profits of Petronas Bhd.

• The market for Proton X70 car.

• The unemployment rate in Malaysia.

Macroeconomics can best be described as the ________________.

• analysis of how consumers spend their money.

• study supply and demand in individual market.

• analysis of how firms manage the profit of a company.

• study of the large aggregates demand in economy.

Examples of secondary sectors are forestry, farming, and mining.

• TRUE

• FALSE

One of the uses of national income accounting is to find unpaid activities.

• TRUE

• FALSE

Compensation of employees including health insurance, gratuities, and pension fund.

• TRUE

• FALSE

1.            Disposable income can be obtained by____________________

• subtracting corporate tax from national income.

•  adding transfer payment to the national income.

•      deducting personal income tax from national income

• deducting gross national income from net national income

The current price index is 160 while the base year price index is 100 and the nominal GNP (Gross National Product) is RM 10 000 million.

What is the real GNP

• RM 6250

• RM 6350

• RM 16 000

•    RM 16 250

The current price index is 160 while the base year price index is 100 and the nominal GNP (Gross National Product) is RM 10 000 million.

       

What is the GDP deflator?

 

• 1.4

• 1.6

• 0.64

• 0.625

   Proprietors' income is a corporate profits mean profit earned by the household through corporations.

• true

• false