Exam (elaborations)
Macroeconomics 8th Canadian Edition Andrew Abel - Test Bank
- Course
- Institution
Macroeconomics 8th Canadian Edition Andrew Abel - Test Bank
[Show more]
Seller
Follow
evileye251
Reviews received
Content preview
, TEST ITEM FILESaeed Moshiri
St. Thomas More College, University of Saskatchewan
Macroeconomics
Eighth Canadian Edition
Andrew B. Abel
University of Pennsylvania
Ben S. Bernanke
Dean Croushore
University of Richmond
Ronald D. Kneebone
University of Calgary
ISBN: 978-0-13-484257-8
Copyright © 2019 Pearson Canada Inc., Toronto, Ontario. All rights reserved. This work is protected by Canadian
copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning.
Dissemination or sale of any part of this work (including on the Internet) will destroy the integrity of the work and is
not permitted. The copyright holder grants permission to instructors who have adopted Macroeconomics, by Abel,
Bernanke, Croushore, and Kneebone, to post this material online only if the use of the website is restricted by access
codes to students in the instructor’s class that is using the textbook and provided the reproduced material bears this
copyright notice.
,Macroeconomics, Cdn. 8e (Abel et al.)
Chapter 1 Introduction to Macroeconomics
1.1 Multiple-Choice Questions
1) Which of the following is a topic of macroeconomics?
A) why nations have different rates of growth
B) what causes inflation and what can be done about it
C) why unemployment periodically reaches very high levels
D) all of the above
Answer: D
Diff: 1 Type: MC Page Ref: 1
2) The two major reasons for the tremendous growth in output in the Canadian economy over the
last 125 years are
A) population growth and budget deficit.
B) population growth and increased productivity.
C) low unemployment and budget surplus.
D) low budget deficit and low trade deficits.
Answer: B
Diff: 1 Type: MC Page Ref: 2
3) The main reason Canada has such a high standard of living is
A) low unemployment.
B) high average labour productivity.
C) low inflation.
D) low government budget deficits.
Answer: B
Diff: 1 Type: MC Page Ref: 2
4) Average labour productivity is
A) the amount of workers per machine.
B) the amount of machines per worker.
C) the ratio of employed to unemployed workers.
D) the amount of output per worker.
Answer: D
Diff: 1 Type: MC Page Ref: 2
5) In analyzing macroeconomic data during the past year, you have discovered that average
labour productivity fell, but total output increased. What was most likely to have caused this?
A) Government deficit was reduced.
B) The capital/output ratio probably rose.
C) There was an increase in labour input.
D) Unemployment probably increased.
Answer: C
Diff: 3 Type: MC Page Ref: 2
1
Copyright © 2019 Pearson Canada Inc.
, 6) The business cycle describes the
A) progression of an industry's structure from monopoly to perfect competition.
B) progression of an industry's structure from perfect competition to monopoly.
C) expansion and contraction of an individual industry within the economy.
D) expansion and contraction of economic activity in the economy as a whole.
Answer: D
Diff: 1 Type: MC Page Ref: 3
7) The short-run, but sometimes sharp, contractions and expansions in economic activity are
called
A) recession.
B) stagnation.
C) inflation.
D) business cycles.
Answer: D
Diff: 1 Type: MC Page Ref: 3
8) When national output declines, the economy is said to be in
A) an expansion.
B) a deflation.
C) a recovery.
D) a recession.
Answer: D
Diff: 1 Type: MC Page Ref: 3
9) During recessions, the unemployment rate ________ and output ________.
A) rises; falls
B) rises; rises
C) falls; rises
D) falls; falls
Answer: A
Diff: 1 Type: MC Page Ref: 3
10) The unemployment rate is the
A) number of unemployed divided by the number of employed.
B) number of employed divided by the number of unemployed.
C) number of unemployed divided by the labour force.
D) labour force divided by the number of unemployed.
Answer: C
Diff: 1 Type: MC Page Ref: 4
2
Copyright © 2019 Pearson Canada Inc.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller evileye251. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $26.74. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now