Macroeconomics Quiz Answers Essay example - 3091 Words

Chapter 1 : Introduction to Macroeconomics 1) Which of the following is NOT a topic studied in Macroeconomics? A) gross domestic product B) the unemployment rate C) the price of IBM computers D) the inflation rate Answer: C . 2) Which of the following is a topic studied in Macroeconomics? A) gross domestic product B) the wage of auto workers C) the price of IBM computers D) the amount of pizza produced Answer: A 3) Which of the following is a topic studied in Macroeconomics? A) the functioning of individual industries B) aggregate behavior of households and industries C) the behavior of individual households D) the decision- making behavior of individual business firms Answer: B 4) Prices that do not always adjust†¦show more content†¦D) hyperinflation. Answer: B 22) Between a trough and a peak, the economy goes through a(n) A) recession. B)bust. C) expansion. D) hyperinflation. Answer: C 23) Between a peak and a trough, the economy goes through a(n) A) expansion. B) inflation. C) recession. D)boom. Answer: C 24) Unemployment means that A) at the going wage rate, there are people who want to work but cannot find work. B) people are not willing to work at the going wage rate. C) there are some people who will not work at the going wage rate. D) there is excess demand in the labor market. Answer: A 25) Unemployment implies that in the labor market A) there is an excess supply of labor. B) there is an excess demand for labor. C) there are too few workers for the jobs available. D) quantity demanded of labor exceeds quantity supplied. Answer: A 26) The unemployment rate equals A) labor force/population. B) unemployed/employed. C) (employed- unemployed)/labor force. D) (labor force - employed) / labor force. Answer: D 26) if the labor force is 50 million and 48 million are employed then the unemployment rate is: A) 2%. B) 4%. C) 5%. D) 52%. Answer: B 27) If 20 million workers are unemployed and 180 million workers are employed, then the nemployment rate is A) 10%. B) 11.1%. C) 18%. D) 80%. Answer: A 28) The period in the business cycle from a trough to peak is called a(n) A) recession. B) expansion. C) slump. D)Show MoreRelatedEcon 2301 Study Guide1079 Words   |  5 PagesECON 2301: Principles of Macroeconomics Hennessy ECON 2301 Principles of Macroeconomics Time: Th 7:05 pm – 9:45 pm Synonym: 40512 Section: 023 Room: NRG2 2120 Instructor: Gregory Hennessy Office: NRG PB3 Hours: Th 6:30 pm – 7:00 pm Th 9:45 pm – 10:15 pm And by appointment Phone: Email: Course Description Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of the monetary policy carriedRead MoreEssay on Econ 102 Quiz1479 Words   |  6 Pagesï » ¿Econ 102 quiz 1 Question 1 of 10  Ã‚  Ã‚  10.0/ 10.0 Points Economics is best defined as the study of   Ã‚  Ã‚     Ã‚  Ã‚  A. financial decision-making  Ã‚  Ã‚     Ã‚  Ã‚     Ã‚  Ã‚  B. how consumers make purchasing decisions.   Ã‚  Ã‚     Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  C. choices made by people faced with scarcity.   Ã‚  Ã‚     Ã‚  Ã‚     Ã‚  Ã‚  D. inflation, unemployment, and economic growth  Ã‚  Ã‚   Answer Key: C Question 2 of 10  Ã‚  Ã‚  10.0/ 10.0 Points Macroeconomics differs from microeconomics in that   Ã‚  Ã‚     Ã‚  Ã‚  A. macroeconomics is the study of individual markets, while microeconomicsRead MoreEcon 214 Exam 1 Complete Solutions Correct Answers Key1890 Words   |  8 Pages214 exam 1 complete solutions correct answers key Click Link Below To Buy: http://hwcampus.com/shop/econ-214-exam-1-complete-solutions-correct-answers-key/ Or Visit www.hwcampus.com Two different versions Version A Quiz Question 1 Structural unemployment is: Question 2 Which of the following equations represents the labor force participation rate? 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