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Macroeconomics Comprehensive Final

Authored by Blake Wagner

Social Studies

12th Grade

Used 9+ times

Macroeconomics Comprehensive Final
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38 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Typically, during the recession phase of the business cycle, inflation _____ and wages ______.

  • rises and rises

  • falls and falls

  • rises and falls

  • falls and rises

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following factors would not shift the supply curve?

  • Changes in the number of consumers in the market.

  • Changes in technology.

  • Changes in input prices.

  • Changes in the number of producers in the market.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ________ market is one in which goods and services are bought and sold illegally.

balanced

black

equal

perfect

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the demand curve increases but the supply curve decreases, price increases but quantity depends on the size of the shift, or is indeterminant.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price stability is a desirable goal for the economy since it makes it ________ for consumers and businesses to plan their budgets accordingly.

harder

better

easier

none of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States is considered an ____________ economy.

close

open

command

free market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____________ is a market that consists of many buyers known as consumers and sellers known as producers.

monopoly

competitive market

oligopoly

none of the above

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