Quiz on Macroeconomics

What does macroeconomics primarily study?

• The whole economy

• Individual markets

• Microeconomic policies

• Consumer behavior

Who published 'The General Theory of Employment, Interest and Money'?

• David Ricardo

• John Maynard Keynes

• Milton Friedman

• Adam Smith

Which of the following is NOT a focus area of macroeconomics?

• Employment

• Consumer preferences

• Inflation

• Economic growth

What does GDP stand for?

• Gross Domestic Product

• General Domestic Price

• General Development Price

• Gross Development Product

What is GNP?

• General Net Price

• Gross National Product

• General National Price

• Gross Net Product

Which approach calculates GDP by adding market value of goods and services?

• Product approach

• Expenditure approach

• Income approach

• Market approach

What does CPI stand for?

• Cost Price Index

• Consumer Price Index

• Consumer Production Index

• Capital Price Index

What type of inflation occurs when prices rise rapidly at a rate of 10 to 20% per year?

• Hyperinflation

• Running inflation

• Walking inflation

• Creeping inflation

What is the unemployment rate?

• Total number of employed individuals

• Total number of unemployed individuals

• Percentage of the labor force that is unemployed

• Percentage of the labor force that is employed

Which type of unemployment occurs when workers move between jobs?

• Seasonal unemployment

• Cyclical unemployment

• Structural unemployment

• Frictional unemployment