Macroeconomics Ch, 1, 2 & 3

Macroeconomics Ch, 1, 2 & 3

University

16 Qs

quiz-placeholder

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Macroeconomics Ch, 1, 2 & 3

Macroeconomics Ch, 1, 2 & 3

Assessment

Quiz

Business

University

Medium

Created by

Lucina Beaumont

Used 2+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Macroeconomic models are used to explain how __________ variables influence

__________ variables.

  1. 

endogenous; exogenous

exogenous; endogenous

  1. microeconomic; macroeconomic

  1. macroeconomic; microeconomic

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When studying the short-run behavior of the economy, an assumption of ______________ is more plausible, whereas when studying the long-run equilibrium behavior of an economy, an assumption of _____________ is more plausible.

inflation; unemployment

  1. unemployment; inflation

  1. flexible prices; sticky prices

  1. sticky prices; flexible prices

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of these are flow variables EXCEPT:

the number of new automobile purchases

the number of people losing their jobs

business expenditures on plant and equipment

the government debt.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GNP equals GDP__________ income earned domestically by foreigners ____________ income that nationals earn abroad.

plus; plus

  1. minus; minus

  1. minus; plus

plus; minus

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

6. The investment function slopes ___________ because there are ___________

investment projects that are profitable as the interest rate decreases.

  1. upward; fewer

  1. upward; more

  1. downward; fewer

  1. downward; more

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. Recessions are periods of

  1. rising incomes.

  1. falling incomes.

  1. rising prices.

  1. falling prices.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. The unemployment rate measures the fraction of the

  1. adult population that has stopped looking for work.

  1. adult population that is not working.

  1. labour force that has stopped looking for work.

  1. labour force that is not working.

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