Macroeconomics 1

29 Questions  I  By Kristenkelli
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1.  Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the labor force is
A.
B.
C.
D.
E.
2.  An individual with a Ph D. in physics, who can find employment only a pizza parlor, would be considered
A.
B.
C.
D.
E.
3.  Which of the following groups has historically had the highest unemployment rate?
A.
B.
C.
D.
E.
4.  Juanita earned a BS in engineering and went to work for a large defense contractor in a small town in Cal. When the government cut spending, Jaunita and 99 others were laid off. The only other business in the town is growing grapes, but the growers refuse to hire laid- off engineers, knowing they will leave at the first opportunity. The unemployment Juanita is experiencing is
A.
B.
C.
D.
E.
5.  Jack, a brilliant new PhD in economics, has turned down many job offers because she hopes eventrually to teach at one of the top universities in her filed. The ype of unemployment she is experiencing is:
A.
B.
C.
D.
E.
6.  What resulted form the increase in oil prices of the 1970's
A.
B.
C.
D.
E.
7.  An increase in the price level will
A.
B.
C.
D.
E.
8.  A drop in stock prices will ________ net wealth and _____ consumpton.
A.
B.
C.
D.
E.
9.  When the U.S. price level increases, OTC, US net exports
A.
B.
C.
D.
E.
10.  The distance between the agg expenditure function and the 45-degree line at every level of real GDP shows the level of which of the following?
A.
B.
C.
D.
E.
11.  The smaller the marginal propensity to save, OTC,
A.
B.
C.
D.
E.
12.  If autonomous investment incrases by $100 billion, equilibrium real GSP demanded will
A.
B.
C.
D.
E.
13.  Other things being equal, a decrease in economoy's exports will
A.
B.
C.
D.
E.
14.  If the price level incrase, OTC, people consume
A.
B.
C.
D.
E.
15.  A fall in price level will shift the agg expenditure curve
A.
B.
C.
D.
E.
16.  In the early 1930's many US banks failed , wiping out the savings of millions of US households =. The result of these mass bank failures might be graphed as
A.
B.
C.
D.
E.
17.  The potential output of an economy is the level of output produced when the
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B.
C.
D.
E.
18.  I n the lond run, but not in the short run
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B.
C.
D.
E.
19.  In the short run, but not in the long run
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B.
C.
D.
E.
20.  If the price level turns out to be higher than exp3ected
A.
B.
C.
D.
E.
21.  For the purpose of aggregate supply analysis, the long run is defined as the time period were
A.
B.
C.
D.
E.
22.  When the economy issimultaneously in the long run adn short run quilibirum, which of the following is NOT TRUE
A.
B.
C.
D.
E.
23.  If global pollution causes climatic changes that permanently harm corn porduction worldwide, aggregate supply and demand analysis would leave us to expect
A.
B.
C.
D.
E.
24.  The economy will expand if
A.
B.
C.
D.
E.
25.  The smaller the marginal propensity to save, the OTC
A.
B.
C.
D.
E.
26.  The difference between consumption spending and disposable income
A.
B.
C.
D.
E.
27.  Net exports are
A.
B.
C.
D.
E.
28.  Which of the following would NOT be considered as a cost of unemployment
A.
B.
C.
D.
E.
29.  If two parties to a loan contract agree that the lender should earn an 8 percent increase in purchasing prower as a resul of a loan, and the inflation rate is 5 percent, what is the nominal interest rate
A.
B.
C.
D.
E.
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