Unit 4 AP Macro

Quiz
•
Social Studies
•
12th Grade
•
Hard
John Robinson
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What's his name & Economic School of Thought?
John Keynes
Fiscal
Adam Smith
Monetarist
Adam Smith
Classical
Milton Friedman
Monetarist
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following will happen if the central bank of a nation purchases government bonds on the open market?
The monetary base will increase and the money supply will not change.
The monetary base will increase and the money supply will increase.
The monetary base will decrease and the money supply will increase.
The monetary base will decrease and the money supply will not change
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
On the island of Mabera, the local money is called “favoli.” The price of every good in Mabera is expressed as the number of favolis needed to buy the good. The use of favolis to express the price of goods is ...
Medium of exchange
Means of payment
Unit of account
Store of value
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a primary function of money in an economy?
Medium of exchange
Store of value
Unit of account
All of the above
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the reserve requirement is 10% and a bank receives a new deposit of $1,000, how much can the bank lend out?
$100
$900
$1,000
$10,000
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the main tool used by the Federal Reserve to control the money supply?
Open market operations
Changing the discount rate
Altering the reserve requirement
Printing more money
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In the short run, an increase in aggregate demand is most likely to cause which of the following?
An increase in unemployment
A decrease in the price level
An increase in the price level
A decrease in real GDP
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