WorksheetsQUIZ 1 - INTRODUCTION TO MACROECONOMICS
Total questions: 10
Worksheet time: 3mins
Macroeconomics is concerned with the study of
the general price level
method of production and cost
how do Malaysians react to the changes of petrol price
the impact of wage reductions on an agro-productions
Which of the macroeconomics issues will affect the economic stability?
Increase in oil subsidies.
Increase in foreign labor inflows.
Increase in prices in the property sector.
Increase in deficit balance of payments.
Economics growth would most likely be stimulated by
higher unemployment rates
higher rate of technological progress
increase in membership of labor unions
consumption of more consumer goods
Aggregate supply curve shift to the left due to an increase in
money supply
labor productivity
input tax
the general price level
Which of the following statement is BEST describes the “gig economy”?
The internet’s effect on the economy.
Using outsourcing workers in manufacturing.
The increasing frequency of employees working remotely.
The part of the economy that has grown in recent years in which work is task-focused and performed by independent workers.
Macroeconomics theory studies are to determine the types and quantities of goods produced.
TRUE
FALSE
Unemployment reduces both economic growth and national output.
TRUE
FALSE
Full employment is achieved when all available resources or factors of production are efficiently used to produce goods and services.
TRUE
FALSE
During high rates of inflation, purchasing powers of consumers are increasing.
TRUE
FALSE
Two macroeconomics objectives are in conflict if efforts made to achieve one fails to achieve the others.
TRUE
FALSE
