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Quiz On Macro

This document summarizes the results of 25 multiple choice questions on macroeconomics. It shows the participant's answers, whether they were correct or incorrect, and provides the correct answer. Based on their responses, the participant answered 18 questions correctly and 7 questions incorrectly. The questions covered topics such as macroeconomic indicators, the business cycle, GDP, inflation, and costs of inflation.

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Alexandria Evangelista
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455 views4 pages

Quiz On Macro

This document summarizes the results of 25 multiple choice questions on macroeconomics. It shows the participant's answers, whether they were correct or incorrect, and provides the correct answer. Based on their responses, the participant answered 18 questions correctly and 7 questions incorrectly. The questions covered topics such as macroeconomic indicators, the business cycle, GDP, inflation, and costs of inflation.

Uploaded by

Alexandria Evangelista
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Submissions

Here are your latest answers:

Question 1
 Macroeconomics is concerned with inflation or deflation, output
growth and unemployment.
Score: 0 out of 1 No CORRECT: TRUE

Question 2
 Macroeconomics is concerned with the market price and equilibrium
quantity of each good or service.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 3
 The employment rate is the number of people employed divided by
number of people in the labor force.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 4
 Hyperinflation and stagflation are two different names which refer to
identical economic conditions.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 5
 The following is a correct order in a business cycle: recession,
trough, peak, expansion.
Score: 1 out of 1 Yes CORRECT: FALSE
Question 6
 An expansion is usually associated with rising price levels.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 7
 A recession is associated with a negative rate of growth of the
economy.
Score: 1 out of 1 Yes CORRECT: TRUE
Question 8
 Fiscal policy generally takes the form of regulations specifying the
maximum amount by which the money supply can be changed.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 9
 Monetary policy includes changing the level of household taxes.
Score: 0 out of 1 No CORRECT: FALSE

Question 10
 A dividend is is paid by shareholders to firms.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 11
 A transfer payment is the tax one pays when transferring real estate.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 12
 According to Keynes, aggregate supply determines the level of
economic activities in the economy.
Score: 0 out of 1 No CORRECT: FALSE

Question 13
 Classical economists believed that economic slowdowns are self-
correcting.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 14
 Depreciation is included in GDP, but excluded from NNP.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 15
 Final sales plus changes in inventories equals GDP.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 16
 New houses count as consumer durables.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 17
 Dairy Queen opens a branch in Estonia. The sales of the restaurant
enter the U.S. GDP and the Estonian GNP.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 18
 ) A GDP deflator is real GDP divided by nominal GDP times 100.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 19
 If nominal GDP rises, then so must real GDP.
Score: 0 out of 1 No CORRECT: TRUE

Question 20
 Production in the illegal or underground economy is not reflected in
GDP.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 21
 When more people who are not working start looking for jobs, the
labor-force participation rate increases.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 22
 The natural rate of unemployment is the unemployment rate during a
period of full employment.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 23
 Anyone 16 years of age or older who is not classified as employed is
classified as unemployed.
Score: 1 out of 1 Yes CORRECT: FALSE
Question 24
 A 100% increase in the price of salt changes the CPI more than a 10%
increase in rent.
Score: 0 out of 1 No CORRECT: FALSE

Question 25
 There are no costs associated with inflation if the inflation rate is
perfectly anticipated.
Score: 1 out of 1 CORRECT: FALSE

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