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Macro economics

Total questions: 100

Worksheet time: 2hrs 40mins

Name
Class
Date
1.
An increase in the value of currency is called
a)
appreciation
b)
depreciation
c)
trade surplus
d)
exchange rate
2.
The value of all the final goods and services produced within a nation in a given year.
a)
Gross Domestic Product
b)
per capita GDP
c)
Gross National Product
3.
Prices at which currencies are traded is called...
a)
Exchange Currency
b)
Exchange Rate
c)
Foreign Exchange Market
d)
Local Currency Demand
4.
A product that one country SELLS to another.
a)
import
b)
export
5.

What is GDP per capita?

a)

GDP divided by the value of capital inputs

b)

GDP divided by the population

c)

GDP divided by the number of workers

d)

GDP divided by the number of weeks in the year

6.

Which of the following will increase economic growth

a)

An increase in unemployment

b)

An increase in incomes

c)

An ageing population

d)

Investment in technology

7.

A period of high economic activity and high employment is:

a)

A recovery

b)

A recession

c)

A boom

d)

A slowdown

8.

Which of the following will NOT increase economic growth?

a)

Updates in technology

b)

Immigration

c)

Increased taxation

d)

Increased Government spending

9.

Which of the following is NOT a consequence of economic growth

a)

Less employment

b)

Pollution

c)

Increased incomes

d)

Improved living standards

10.

Unemployment occurs when

a)

Someone wants a job but can't find work

b)

Someone is able and willing to work but can't find a job

c)

Someone is able to work but does not have employment

d)

Work provided is not sufficient to meet the needs of workers

11.

Identify all examples of wealth

a)

Salary

b)

Benefits

c)

Pension fund

d)

Savings

12.

Identify all incomes

a)

Shares

b)

Interest

c)

Profits

d)

Pension

13.

Identify the consequences of in equality in income

a)

Social unrest

b)

More opportunity

c)

Increase in living standards

d)

Poverty

14.

those goods which satisfy human wants directly are called?

a)

intermediate goods

b)

capital goods

c)

consumer goods

d)

none of these

15.

net investment is equal to

a)

gross investment +depreciation

b)

gross investment- depreciation

c)

gross investment xdepreciation

16.

which of the following is semi durable good?

a)

radio

b)

clothes

c)

milk

d)

petrol

17.

refrigerator purchased by a confectionery shop is and example of ?

a)

final good

b)

intermediate good

c)

capital good

d)

both a and c

18.

two sector economy consists of

a)

household sector

b)

producer sector

c)

household and producer sector

d)

none of these

19.

final goods refer to those goods which are used either for ----- or for-------

a)

consumption ,investment

b)

consumption,resale

c)

resale , investment

d)

resale , further production

20.

depreciation of fixed capital assets refers to ?

a)

normal wear and tear

b)

foreseen obsolescence

c)

normal wear and tear and foreseen obsolescence

d)

none of these

21.

Inflation can erode one's purchasing power. So how can an investor hedge against inflation?

a)

Cut down all the unnecessary expenses and keep the money at home.

b)

Lower the tax rate of investment

c)

Invest the money in an instrument that can generate higher return than the inflation rate

d)

None of the answer is correct

22.

What makes a currency become stronger?


I) Interest rate

II) Economy health

III) Foreign investment

IV) Government or central bank intervention

a)

I, II , III

b)

I , II , IV

c)

II, III , IV

d)

I , II , III , IV

23.

What does GDP stand for?

a)

General Domestic Prices

b)

Gross Domestic Prices

c)

Gross Domestic Product

d)

Gross Disgusting Person

e)

General Domestic Product

24.

What is the study of production, employment, prices and policies on a nationwide scale?

a)

Inflation

b)

Macroeconomics

c)

Pyschological pricing

25.
What is an action of monetary policy?
a)
reduce taxes
b)
changing reserve requirements
c)
increase spending
d)
borrow money for deficit
26.
What does Inflation do to the value of money?
a)
Makes it go up.
b)
Makes it go down.
c)
Makes it stay the same.
27.

A market in which a single seller dominates.

a)

Monopolistic Competition

b)

Monopoly

c)

Oligopoly

d)

Perfect Competition

28.

A market structure in which a large number of firms all produce the same product and no single seller controls supply or prices.

a)

Monopoly

b)

Monopolistic Comeptition

c)

Oligopoly

d)

Perfect Competition

29.

A market structure in which many companies sell products that are similar but not identical.

a)

Monopolistic Competition

b)

Oligopoly

c)

Monopoly

d)

Perfect Competition

30.

Microeconomics studies individuals, Macroeconomics studies...

a)

macros

b)

individual decisions

c)

economic aggregates

d)

lots of little details

31.

Which is NOT a component of expenditure based GDP?

a)

S = Surplus

b)

C = Consumption

c)

I = Investment of new physical capital

d)

G = Government expenditure

e)

X = Exports

32.

Y =

a)

C + I + G + X + M

b)

C + I + G + X - M

c)

C - I - G - X - M

d)

C - I - G - X + M

e)
33.

GDP = C +? + G + (X-M). What is ?

(a)  

34.

Define Fiscal Policy

4 lines
35.

Which of the following are indirect taxes?

a)

VAT

b)

Corporation tax

c)

Excise Duty

d)

Income tax

36.

Which of the following are sources of wealth?

a)

Salary

b)

Dividend

c)

Pension Fund

d)

Savings

37.

Multipliers are found in...

a)

contracting economies.

b)

expanding economies.

c)

both expanding and contracting economies.

d)

stagnant economies.

38.

A negative consumption shock will cause ...

a)

a rightward shift in demand curve for labor.

b)

a leftward shift in demand curve for labor.

c)

a rightward move along the demand curve for labor.

d)

a leftward move along the demand curve for labor.

39.

An expansionary monetary policy will lower interest rates and...

a)

raise inflation.

b)

lower inflation.

c)

decrease liquidity.

d)

cause mortgage defaults.

40.

An expansionary policy is...

a)

fiscal.

b)

monetary.

c)

either fiscal or monetary.

d)

neither fiscal nor monetary.

41.

Select all that apply

Which of the following are the macroeconomic goals for an economy?

a)

Economic growth

b)

Stable Prices

c)

Single market growth

d)

Full Employment

42.

The US unemployment rate increased to 3.6 percent in October 2019 from 3.5 percent in the previous month and in line with market expectations. Over the month, the number of unemployed persons increased by 86,000. The labor force participation rate edged up to 63.3 percent from 63.2 percent in September.


According to the passage, which macroeconomic goal is being described?

a)

Economic growth

b)

Full employment

c)

Stable prices

d)

Inflation

e)

Economic downturn

43.

C+I+G+(X-M) is used to measure which of the following?

a)

Full employment

b)

Economic growth

c)

Price stability

d)

Unemployment

44.

Rising prices =?

a)

inflation

b)

stagflation

c)

deflation

d)

dogflation

45.

A balanced budget is best described as which of the following

a)

Revenue is greater than expenses

b)

Revenue is less than expenses

c)

Revenue is equal to expenses

d)

Expenses is greater than revenue

46.

A budget surplus is best described as which of the following

a)

Revenue is greater than expenses

b)

Revenue is less than expenses

c)

Revenue is equal to expenses

d)

Expenses is greater than revenue

47.

When a firm is optimistic (feels good) about future business opportunities...

a)

the will decrease their demand for labor.

b)

they will increase their demand for labor.

c)

they will sell off plant machinery and factories.

d)

they will close offices to decrease costs.

48.
What three entities make up the circular flow model?
a)
businesses, households, and the government
b)
Buyers, sellers, producers
c)
Local, state, and federal government
d)
President Obama, Katy Perry, Waka Flocka
49.
When WalMart pays income taxes, what two parts of the circular flow model are involved?
a)
consumers and producers
b)
businesses and government
c)
consumers and government
d)
producers and consumers
50.
In the circular flow model, the product market describes _____.
a)
stores that sell goods and services to households
b)
the government paying for public goods
c)
households selling their labor to businesses
d)
households receive income from businesses
51.
What do households provide to the resource market?
a)
land, labor, capital 
b)
money
c)
people
d)
income
52.
What is being represented by the "red flow line"?
a)
The flow of money
b)
The flow of goods and services
53.
When you buy a new car you are increasing your 
a)
productivity
b)
wealth
54.
What drives the circular flow model?
a)
success
b)
profit
c)
taxes
d)
monetary policy
55.

Which of the following is the consumption sector?

a)

households

b)

firms

c)

foreign

d)

government

56.

Money flow involves exchange of:

a)

goods and services

b)

gifts

c)

money

d)

none of these

57.

In a closed economy, ........................... is not included?

a)

households

b)

firms

c)

government

d)

Foreign sector

58.

Which of the following is an intermediate good

a)

Machine

b)

Car

c)

Mobile

d)

Sugarcane in a sugar mill

59.

--------- causes expansion of national income.

a)

Leakages

b)

Injections

60.

which of the following is a leakage from circular flow of income

a)

Savings

b)

Taxes

c)

imports

d)

subsidies

61.

It is the branch of economics that deals with the structure, performance, behavior, and decision making of the whole, or aggregate, economy.

a)

Macroeconomics

b)

Microeconomics

62.
Which of these is NOT a monetary policy tool?
a)
Discount rate
b)
Balance Accounts
c)
Open Market Operation
d)
Reserved Requirements
63.
What is an action of monetary policy?
a)
reduce taxes
b)
changing reserve requirements
c)
increase spending
d)
borrow money for deficit
64.
Lowering interest rates to stimulate the economy is called:
a)
Fiscal policy
b)
Monetary policy
c)
Easy Money
d)
Tight Money
65.
What action would the Federal Reserve take to control inflation?
a)
Buy government securities
b)
Decrease the required reserve ratio
c)
Increase taxes
d)
Increase the discount rate
66.

The goal of monetary policy is to

a)

sell bonds

b)

reduce unemployment

c)

prevent inflationary and recessionary economic periods

d)

increase tariffs on foreign countries

67.

"The Fed" refers to the....

a)

Federal Bureau of Investigation

b)

Federal Government

c)

Federal Reserve System/Bank

d)

Federal Income Tax

68.
If the United States is experiencing inflation, the Fed will likely
a)
Increase the supply of money in the economy
b)
Decrease the supply of money in the economy
69.

The federal government's overall approach to spending and taxes is called

a)

Physical Policy

b)

Fiscal Policy

c)

вежба

d)

Monetary Policy

70.
Fiscal Policy is concerned with
a)
Government Spending and taxation
b)
Consumer spending and productivity
c)
Government spending and the money supply
d)
Taxation and inflation
71.

An example of expansionary is what? (Multiple answers - must pick all to receive credit)

a)

Decrease taxes

b)

Raise taxes

c)

Government spends more on Science research

d)

Government cuts organizations like the National Science Foundation

72.

"The Fed refers to the Federal Reserve System, the Central Bank of the United States. The FOMC is the Federal Open Market Committee, the group responsible for implementing monetary policy."

a)

Fiscal policy

b)

Monetary policy

73.

"In February, lawmakers set themselves up to reach a more permanent spending agreement by the end of March. Congress agreed to increases to domestic and defense spending over the next two years, raising funding for domestic programs by $128 billion and hiking defense budgets by $160 billion. But they didn’t actually decide where the money would go."

a)

Fiscal policy

b)

Monetary policy

74.

Which is NOT one of government's role in the economy?

a)

Protecting property rights

b)

Maintaining competition

c)

Protecting consumers, savers, and investors

d)

Protecting monopolistic corporations

75.

Which of these items are considered commodities?

a)

oil

b)

water

c)

agricultural crops

d)

precious metals like gold

76.

When measuring the benefit provided by a good or service, this can be identified as

a)

economic value

b)

intrinsic value

c)

opportunity cost

d)

subjective value

77.

Which of these are functions of money?

a)

medium of exchange that allows the trade of goods and services

b)

holds value over time

c)

standard of value that allows comparison of the value of goods related to one another

d)

used as the only means of trade between nations

78.
An example of expansionary fiscal policy would be
a)
cutting taxes.
b)
cutting government spending.
c)
cutting production of consumer goods.
d)
cutting prices of consumer goods.
79.
How could the Federal Reserve encourage banks to lend out more of their reserves?
a)
reduce the discount rate
b)
raise the required amount of reserve
c)
increase the prime rate
d)
reduce the money supply
80.
Open market operations are
a)
the processes by which money enters into circulation. 
b)
reserves greater than the required amounts
c)
the buying and selling of government securities to alter the supply of money.
d)
rates of interest banks charge on short-term loans to their best customers.
81.
The use of taxes and government spending to affect the economy
a)
Monetary Policy
b)
Fiscal Policy
c)
Contractionary Policy
d)
Expansionary Policy
82.
The manipulation of the money supply in order to influence the cost and the availability of credit is 
a)
Banking Policy
b)
Fiscal Policy
c)
Monetary Policy
d)
Spending Policy
83.

Which of the following are the functions of money? Multi-select options.

a)

As a medium of exchange

b)

As a store of wealth

c)

As a means of valuating different types of goods and services

d)

As a mean of establishing future claims and payments

84.

A repo is where a bank sell some assets (e.g. bonds) and agrees to buy them back at a particular price after a set period of time. Is this statement true or false?

a)

True

b)

Flase

85.

Who supplies money

a)

government

b)

RBI

c)

commercial banks

d)

LIC

86.

M1measurement of money supply=

a)

C+DD+OD

b)

C+CRR+SLR

c)

C+POST OFFICE SAVING ACCOUNT+TERM DEPOSIT

d)

C+DD

87.

Money supply refers to :

a)

Total volume of money held by the public at a particular point of time

b)

Total volume of money held by the public at a period of time

c)

Total amount of money held by Government

d)

Both A & B

88.

In the terminology of economics and money demand, the terms M1 and M2 are also known as :

a)

Short money

b)

Long money

c)

Broad money

d)

Narrow money

89.

Other deposits with RBI includes:

a)

Deposits of commercial banks

b)

Demand Deposits of foreign central banks

c)

Deposits of public financial Institutions

d)

Both B & C

90.

what items are not included in the M1 measure of money supply?

a)

currency and coins with public

b)

inter bank deposits

c)

other deposit with RBI

d)

demand deposit with banks

91.

money concept is a __________concept

a)

stock

b)

flow

c)

both (a) and (b)

d)

neither (a ) nor (b)

92.

When one commodity is exchanged with another commodity the system is

a)

Barter system

b)

Monetary system

c)

Digital system

d)

Exchange sysrem

93.

Which one of these is a limitation of barter system

a)

Lack of double coincidence of wants

b)

Lack of store of value

c)

Lack of common measure of value

d)

All of these

94.

Money which is accepted as a medium of exchange because of trust between the payer and the payee is called-

a)

full bodied money

b)

fait money

c)

fiduciary money

d)

credit money

95.
Barter system is now replaced by
a)
Banking system
b)
International system
c)
Monetary system
d)
Financial system
96.
which one is money ?
a)
cash
b)
cheque
c)
draft
d)
all the above
97.

money measure M₂ comprises of ____________

a)

M₁ + time deposit all banks

b)

M₁+ savings deposit with post office savings banks

c)

M₁ + National savings certificate

d)

M₁ + Time deposit of the banks as well as saving deposits with post office.

98.

In the terminology of economics and money demand, the terms M1 and M2 are also known as :

a)

Short money

b)

Long money

c)

Broad money

d)

Narrow money

99.

Real flow refers to the flow of factor services from ....... to........ .

a)

firms to households

b)

households to firms

c)

firms to government

d)

household to government

100.

Circular flow of income is correctly represented in the diagram:

a)
b)
c)
d)

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