Principles of Macroeconomics Exam Questions With Correct Answers
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Course
Macroeconomics
Institution
Macroeconomics
Principles of Macroeconomics Exam
Questions With Correct Answers
Which of the following is NOT a topic studied in Macroeconomics?
A) the unemployment rate
B) gross domestic product
C) the price of Dell computers
D) the inflation rate - answerC) the price of Dell computers
Government policyma...
Principles of Macroeconomics Exam
Questions With Correct Answers
Which of the following is NOT a topic studied in Macroeconomics?
A) the unemployment rate
B) gross domestic product
C) the price of Dell computers
D) the inflation rate - answer✔C) the price of Dell computers
Government policymakers would like to have high ___________ and low _____________.
A) unemployment and output growth; inflation
B) output growth; unemployment and inflation
C) output growth and inflation; unemployment
D) inflation; unemployment and output growth - answer✔B) output growth; unemployment and
inflation
In the circular flow diagram, firms ___________ labor and households ________ goods and
services.
A) supply; demand
B) supply; supply
C) demand; supply
D) demand; demand - answer✔D) demand; demand
Which of the following is NOT a correct statement?
A) Shareholders earn dividends but bondholders don't.
B) Bondholders earn dividends but shareholders don't.
C) Companies can issue shares and issue bonds.
D) shortage of labor and wages will rise. - answer✔D) shortage of labor and wages will rise.
The value of what KFC produces in Japan is included in the U.S. ________ and in the Japanese
________
A) GDP; GDP
B) GNP; GDP
C) GDP; GNP
D) GNP; GNP - answer✔GNP; GDP
Which of the following would NOT be counted in 2016's GDP?
A) the commissions earned by a sales associate in selling home theater systems built prior to
2016.
B) the 2016 salary of a used furniture salesperson.
C) the value of a 1976 convertible you purchase from a dealer in 2016.
D) the value of a laser printer manufactured in 2016 but not sold in 2016. - answer✔C) the
value of a 1976 convertible you purchase from a dealer in 2016.
The equation for GDP using the expenditure approach is:
A) GDP= C + I + G + EX - IM
B) GDP= C + I + G - EX - IM
C) GDP= C + I + G + EX + IM
D) GDP= C + I + G + (IM - EX) - answer✔A) GDP= C + I + G + EX - IM
Refer to Table 6.1. The value for gross private domestic investment in billions of dollars is
A) 300
B) 375
D) 450 - answer✔C) 425
Refer to Table 6.1. The value for net exports in billions of dollars is
A) 150
B) 250
C) 650
D) 800 - answer✔A) 150
Refer to Table 6.1. The value of gross domestic product in billions of dollars is
A) 3,000
B) 3,075
C) 3,125
D) 3,750 - answer✔B) 3,075
Refer to Table 6.9. Assume that this economy produces only 2 goods Good X and Good Y. The
value for this economy's nominal GDP in year 1 is
A) $140
B) $160
C) $180
D) $200 - answer✔A) $140
Refer to Table 6.9. Assume that this economy produces only two goods Good X and Good Y. If
year 1 is the base year , the value for this economy's real GDP in year 2 is
A) $168
B) $179
C) $202
D) $214 - answer✔A) $168
The ratio of nominal GDP to real GDP multiplied by 100 is the
A) GDP deflator
B) national income
C) same as depreciation
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