Question 1

Examples of investment goods are

Accepted Answer

A)  items that are bought and sold in the stock market. 
B)  machine tools, buildings, highways, and bridges. 
C)  bonds. 
D)  mutual funds. 
A)  items that are bought and sold in the stock market. 
B)  machine tools, buildings, highways, and bridges. 
C)  bonds. 
D)  mutual funds.

Question 2

The 1990s was a decade of generally

Accepted Answer

A)  low output growth, increasing unemployment, and increasing inflation. 
B)  high output growth, increasing unemployment, and decreasing inflation 
C)  high output growth, increasing unemployment, and decreasing inflation. 
D)  high output growth, decreasing unemployment, and decreasing inflation 
A)  low output growth, increasing unemployment, and increasing inflation. 
B)  high output growth, increasing unemployment, and decreasing inflation 
C)  high output growth, increasing unemployment, and decreasing inflation. 
D)  high output growth, decreasing unemployment, and decreasing inflation

Question 3

Periods in which production falls and unemployment rises are called

Accepted Answer

A)  macroeconomic expansions. 
B)  business cycles. 
C)  recessions, or possibly, depressions. 
D)  inflation. 
A)  macroeconomic expansions. 
B)  business cycles. 
C)  recessions, or possibly, depressions. 
D)  inflation.

Question 4

Microeconomists

Accepted Answer

A)  focus on the economy as a whole. 
B)  hold total income constant. 
C)  spend a great deal of time and energy investigating how people form their expectations and change them over time. 
D)  consider the possibility that decision makers might change the quantities they produce before they change the prices they charge. 
A)  focus on the economy as a whole. 
B)  hold total income constant. 
C)  spend a great deal of time and energy investigating how people form their expectations and change them over time. 
D)  consider the possibility that decision makers might change the quantities they produce before they change the prices they charge.

Question 5

Which of the following is not likely to be considered part of economic activity?

Accepted Answer

A)  Purchasing a new automobile. 
B)  Working in a clothing store. 
C)  Making pancakes for breakfast (and eating them yourself). 
D)  Renting an apartment. 
A)  Purchasing a new automobile. 
B)  Working in a clothing store. 
C)  Making pancakes for breakfast (and eating them yourself). 
D)  Renting an apartment.

Question 6

Microeconomists

Accepted Answer

A)  focus on the economy as a whole. 
B)  spend much time analyzing how total income changes, and how changes in income cause changes in . other modes of economic behavior. 
C)  spend a great deal of time and energy investigating how people form their expectations and change them over time. 
D)  assume that economic adjustment occurs first through prices that change to balance supply and demand. 
A)  focus on the economy as a whole. 
B)  spend much time analyzing how total income changes, and how changes in income cause changes in . other modes of economic behavior. 
C)  spend a great deal of time and energy investigating how people form their expectations and change them over time. 
D)  assume that economic adjustment occurs first through prices that change to balance supply and demand.

Question 7

Which of the following is not one of the six key variables in macroeconomics?

Accepted Answer

A)  the interest rate 
B)  the unemployment rate 
C)  the inflation rate 
D)  the level of the production in the steel industry 
A)  the interest rate 
B)  the unemployment rate 
C)  the inflation rate 
D)  the level of the production in the steel industry

Question 8

Microeconomists

Accepted Answer

A)  focus on the economy as a whole. 
B)  spend much time analyzing how total income changes, and how changes in income cause changes in other modes of economic behavior. 
C)  don't worry much about how decision makers form their expectations. 
D)  consider the possibility that decision makers might change the quantities they produce before they change the prices they charge. 
A)  focus on the economy as a whole. 
B)  spend much time analyzing how total income changes, and how changes in income cause changes in other modes of economic behavior. 
C)  don't worry much about how decision makers form their expectations. 
D)  consider the possibility that decision makers might change the quantities they produce before they change the prices they charge.

Question 9

Which of the following macroeconomic scenarios would likely enhance your chances of receiving a reasonable job offer as you near graduation from your college of university?

Accepted Answer

A)  low output growth and high unemployment. 
B)  high inflation and high unemployment. 
C)  high output growth and low unemployment. 
D)  low output growth and high inflation. 
A)  low output growth and high unemployment. 
B)  high inflation and high unemployment. 
C)  high output growth and low unemployment. 
D)  low output growth and high inflation.

Question 10

Macroeconomists

Accepted Answer

A)  focus on the markets for individual commodities and on the decisions of single economic agents. 
B)  hold total income constant. 
C)  don't worry much about how decision makers form their expectations. 
D)  consider the possibility that decision makers might change the quantities they produce before they change the prices they charge. 
A)  focus on the markets for individual commodities and on the decisions of single economic agents. 
B)  hold total income constant. 
C)  don't worry much about how decision makers form their expectations. 
D)  consider the possibility that decision makers might change the quantities they produce before they change the prices they charge.

Question 11

When interest rates decrease,

Accepted Answer

A)  investment spending tends to decrease. 
B)  investment spending tends to increase. 
C)  investment spending isn't generally affected. 
D)  investment spending tends to decrease and then increase. 
A)  investment spending tends to decrease. 
B)  investment spending tends to increase. 
C)  investment spending isn't generally affected. 
D)  investment spending tends to decrease and then increase.

Question 12

The nominal exchange rate is

Accepted Answer

A)  the rate which banks charge the least risky businesses. 
B)  the rate which District Federal Reserve Banks charge member banks. 
C)  the rate at which the goods and services purchased in different countries can be exchanged one for another. 
D)  the rate at which the monies of different countries can be exchanged one for another. 
A)  the rate which banks charge the least risky businesses. 
B)  the rate which District Federal Reserve Banks charge member banks. 
C)  the rate at which the goods and services purchased in different countries can be exchanged one for another. 
D)  the rate at which the monies of different countries can be exchanged one for another.

Examples of investment goods are

The 1990s was a decade of generally

Periods in which production falls and unemployment rises are called

Microeconomists

Which of the following is not likely to be considered part of economic activity?

Microeconomists

Which of the following is not one of the six key variables in macroeconomics?

Microeconomists

Which of the following macroeconomic scenarios would likely enhance your chances of receiving a reasonable job offer as you near graduation from your college of university?

Macroeconomists

When interest rates decrease,

The nominal exchange rate is

Measuring the Macroeconomy

Thinking Like an Economist

The Theory of Economic Growth

The Reality of Economic Growth: History and Prospect

Building Blocks of the Flexible-Price Model

Equilibrium in the Flexible-Price M Odel

Money, Prices, and Inflation

The Sticky-Price Income-Expenditure Framework: Consumption and the Multiplier

Investment, Net Exports, and Interest Rates: The Is Curve

The Money Market and the LM Curve

The Phillips Curve, Expectations, and Monetary Policy

Stabilization Policy

Budget Balance, National Debt, and Investment

International Economic Policy

Changes in the Macroeconomy and Changes in Macroeconomic Policy

The Future of Macroeconomics

Epilogue

Filters

Exam 1: Introduction to Macroeconomics

Examples of investment goods are

The 1990s was a decade of generally

Periods in which production falls and unemployment rises are called

Microeconomists

Which of the following is not likely to be considered part of economic activity?

Microeconomists

Which of the following is not one of the six key variables in macroeconomics?

Microeconomists

Which of the following macroeconomic scenarios would likely enhance your chances of receiving a reasonable job offer as you near graduation from your college of university?

Macroeconomists

When interest rates decrease,

The nominal exchange rate is

Measuring the Macroeconomy

Thinking Like an Economist

The Theory of Economic Growth

The Reality of Economic Growth: History and Prospect

Building Blocks of the Flexible-Price Model

Equilibrium in the Flexible-Price M Odel

Money, Prices, and Inflation

The Sticky-Price Income-Expenditure Framework: Consumption and the Multiplier

Investment, Net Exports, and Interest Rates: The Is Curve

The Money Market and the LM Curve

The Phillips Curve, Expectations, and Monetary Policy

Stabilization Policy

Budget Balance, National Debt, and Investment

International Economic Policy

Changes in the Macroeconomy and Changes in Macroeconomic Policy

The Future of Macroeconomics

Epilogue

Filters