Question 1

Among the prices that macroeconomists study are:

Accepted Answer

A) the wage rate. 
B) the interest rate. 
C) the exchange rate. 
D) all of the above. 
A) the wage rate. 
B) the interest rate. 
C) the exchange rate. 
D) all of the above.

Question 2

If price is below equilibrium in a market, then quantity supplied will be less than quantity demanded.

Accepted Answer

A) True 
 B)False

Question 3

If prices are sticky:

Accepted Answer

A) the market quickly sticks at equilibrium. 
B) the market clears quickly. 
C) the market only slowly moves toward equilibrium. 
D) all of the above. 
A) the market quickly sticks at equilibrium. 
B) the market clears quickly. 
C) the market only slowly moves toward equilibrium. 
D) all of the above.

Question 4

-In Figure1.1 if the price is 2, then:

Accepted Answer

A) the market is in equilibrium. 
B) there is excess quantity supplied. 
C) there is excess quantity demanded. 
D) the market clears. 
A) the market is in equilibrium. 
B) there is excess quantity supplied. 
C) there is excess quantity demanded. 
D) the market clears.

Question 5

-In Figure1.1, if price is 2, then quantity demanded is:

Accepted Answer

A)  2. 
B)  7. 
C)  3. 
D)  8. 
A)  2. 
B)  7. 
C)  3. 
D)  8.

Question 6

A possible order of events in an economy over time is:

Accepted Answer

A) expansion, recession, peak, expansion. 
B) recession, trough, expansion, peak. 
C) expansion, peak, trough, recession. 
D) recession, trough, peak, expansion. 
A) expansion, recession, peak, expansion. 
B) recession, trough, expansion, peak. 
C) expansion, peak, trough, recession. 
D) recession, trough, peak, expansion.

Question 7

Macroeconomics includes the study of:

Accepted Answer

A) the general price level. 
B) the price of individual goods. 
C) the relative price of goods. 
D) all of the above. 
A) the general price level. 
B) the price of individual goods. 
C) the relative price of goods. 
D) all of the above.

Question 8

Monetary policy involves:

Accepted Answer

A) the government's expenditure. 
B) taxation. 
C) determining the quantity of money. 
D) the fiscal deficit. 
A) the government's expenditure. 
B) taxation. 
C) determining the quantity of money. 
D) the fiscal deficit.

Question 9

The inflation rate for year t is:

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)

Question 10

-In Figure1.1, if price is 7, then quantity demanded is:

Accepted Answer

A)  2. 
B)  7. 
C)  3. 
D)  8. 
A)  2. 
B)  7. 
C)  3. 
D)  8.

Question 11

-In Figure1.1 if supply increases, then equilibrium:

Accepted Answer

A) price and quantity fall. 
B) price and quantity rise. 
C) price rises and quantity falls. 
D) price falls and quantity rises. 
A) price and quantity fall. 
B) price and quantity rise. 
C) price rises and quantity falls. 
D) price falls and quantity rises.

Question 12

A peak in an economy is when the economy:

Accepted Answer

A) is growing. 
B) reaches a low point. 
C) is contracting. 
D) reaches a high point. 
A) is growing. 
B) reaches a low point. 
C) is contracting. 
D) reaches a high point.

Question 13

The unemployment rate in France was highest in:

Accepted Answer

A) 1990 
B) 1994 
C) 2001 
D) 2009 
A) 1990 
B) 1994 
C) 2001 
D) 2009

Question 14

Among the prices that macroeconomist study are:

Accepted Answer

A) the price of coffee. 
B) the price of tea. 
C) the interest rate. 
D) all of the above. 
A) the price of coffee. 
B) the price of tea. 
C) the interest rate. 
D) all of the above.

Question 15

When real GDP falls toward a low point or trough it is called a[n]:

Accepted Answer

A) boom. 
B) recession. 
C) inflation. 
D) expansion. 
A) boom. 
B) recession. 
C) inflation. 
D) expansion.

Question 16

The unemployment rate is:

Accepted Answer

A) the fraction of the population with no job. 
B) the fraction of those seeking work with no job. 
C) the rate of growth of those with no job. 
D) the rate of growth of those seeking work. 
A) the fraction of the population with no job. 
B) the fraction of those seeking work with no job. 
C) the rate of growth of those with no job. 
D) the rate of growth of those seeking work.

Question 17

The price of labour is the:

Accepted Answer

A) exchange rate. 
B) wage rate. 
C) interest rate. 
D) the rental price. 
A) exchange rate. 
B) wage rate. 
C) interest rate. 
D) the rental price.

Question 18

When GDP is expanding toward a high point it is called a[n]:

Accepted Answer

A) depression. 
B) boom. 
C) recession. 
D) inflation. 
A) depression. 
B) boom. 
C) recession. 
D) inflation.

Question 19

Macroeconomists study the price of individual products like beer.

Accepted Answer

A) True 
 B)False

Question 20

What is the rate of growth of real GDP?

Accepted Answer

First this year's GDP is subtracted from

Among the prices that macroeconomists study are:

If price is below equilibrium in a market, then quantity supplied will be less than quantity demanded.

If prices are sticky:

-In Figure1.1 if the price is 2, then:

-In Figure1.1, if price is 2, then quantity demanded is:

A possible order of events in an economy over time is:

Macroeconomics includes the study of:

Monetary policy involves:

The inflation rate for year t is:

-In Figure1.1, if price is 7, then quantity demanded is:

-In Figure1.1 if supply increases, then equilibrium:

A peak in an economy is when the economy:

The unemployment rate in France was highest in:

Among the prices that macroeconomist study are:

When real GDP falls toward a low point or trough it is called a[n]:

The unemployment rate is:

The price of labour is the:

When GDP is expanding toward a high point it is called a[n]:

Macroeconomists study the price of individual products like beer.

What is the rate of growth of real GDP?

National-Income Accounting: Gross Domestic Product and the Price Level

Introduction to Economic Growth

Working With the Solow Growth Model

Conditional Convergence and Long-Run Economic Growth

Macroeconomics Without Microeconomic Foundations

Markets, Prices, Supply, and Demand

Consumption, Saving, and Investment

An Equilibrium Business-Cycle Model

Capital Utilization and Unemployment

The Demand for Money and the Price Level

Inflation, Money Growth, and Interest Rates

Government Expenditure

Taxes

Public Debt

Money and Business Cycles I: the Price-Misperceptions Model

Money and Business Cycles Ii: Sticky Prices and Nominal Wage Rates

World Markets in Goods and Credit

Exchange Rates

Filters

Exam 1: Thinking About Macroeconomics

Among the prices that macroeconomists study are:

If price is below equilibrium in a market, then quantity supplied will be less than quantity demanded.

If prices are sticky:

-In Figure1.1 if the price is 2, then:

-In Figure1.1, if price is 2, then quantity demanded is:

A possible order of events in an economy over time is:

Macroeconomics includes the study of:

Monetary policy involves:

The inflation rate for year t is:

-In Figure1.1, if price is 7, then quantity demanded is:

-In Figure1.1 if supply increases, then equilibrium:

A peak in an economy is when the economy:

The unemployment rate in France was highest in:

Among the prices that macroeconomist study are:

When real GDP falls toward a low point or trough it is called a[n]:

The unemployment rate is:

The price of labour is the:

When GDP is expanding toward a high point it is called a[n]:

Macroeconomists study the price of individual products like beer.

What is the rate of growth of real GDP?

National-Income Accounting: Gross Domestic Product and the Price Level

Introduction to Economic Growth

Working With the Solow Growth Model

Conditional Convergence and Long-Run Economic Growth

Macroeconomics Without Microeconomic Foundations

Markets, Prices, Supply, and Demand

Consumption, Saving, and Investment

An Equilibrium Business-Cycle Model

Capital Utilization and Unemployment

The Demand for Money and the Price Level

Inflation, Money Growth, and Interest Rates

Government Expenditure

Taxes

Public Debt

Money and Business Cycles I: the Price-Misperceptions Model

Money and Business Cycles Ii: Sticky Prices and Nominal Wage Rates

World Markets in Goods and Credit

Exchange Rates

Filters