Macroeconomics Quiz 1

Which of the following is NOT a goal of macroeconomics?

• Achieving full employment

• Maintaining price stability

• Maximizing individual wealth

• Sustainable economic growth

What does inflation refer to?

• A decrease in general price levels

• A rise in general price levels

• Stability in price levels

• A balance in trade

What is aggregate demand?

• Total exports of a country

• Total production of goods and services

• Total amount of goods and services demanded

• Total income of households

Which of the following is a determinant factor affecting aggregate supply?

• Consumer preferences

• Market competition

• Government regulations

• Costs of production

What is the impact of IR 4.0 on jobs?

• Stability in employment rates

• Creation of more manual jobs

• Disappearance of certain jobs

• Increase in job security

What is the definition of unemployment?

• A situation where the economy is booming

• A situation where a person is not willing to work

• A situation where a person desires to work but cannot find employment

• A situation where jobs are plentiful

Which of the following is a macroeconomic problem?

• Local business growth

• Consumer debt

• Unemployment

• Personal savings

What is the goal of maintaining price stability?

• To ensure prices remain constant

• To minimize changes in general price levels

• To maximize profits for businesses

• To increase consumer spending

Which of the following factors can shift the aggregate demand curve?

• Changes in production costs

• Interest rates

• Government purchases

• Consumer savings

What is a characteristic of sustainable economic growth?

• Decrease in real per capita income

• Increase in the economy's ability to produce goods

• Reduction in resource utilization

• Stagnation in economic activity