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Macroeconomics

40 Questions  I  By Frantase
Macroeconomics

  
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Question Excerpt

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1.  Discretionary fiscal policy is
A.
B.
C.
D.
2.  The largest categories of government purchases of goods and services are
A.
B.
C.
D.
3.  When the government makes a payment to an individual for which no good or service is provided in return, this is referred to as a
A.
B.
C.
D.
4.  Social Security, Medicare, and Medicaid are the three main
A.
B.
C.
D.
5.  Disposable income
A.
B.
C.
D.
6.  A recessionary gap occurs when
A.
B.
C.
D.
7.  To address a recessionary gap, the appropriate fiscal policy would be
A.
B.
C.
D.
8.  The effect of expansionary fiscal policy is to
A.
B.
C.
D.
9.  Which of the following is NOT an example of contractionary fiscal policy?
A.
B.
C.
D.
10.  Which of the following would shift aggregate demand to the left?
A.
B.
C.
D.
11.  Lags that arise in the implementation of fiscal policy mean that
A.
B.
C.
D.
12.  The expansionary fiscal policy in Japan in the 1990s has
A.
B.
C.
D.
13.  The 2008 stimulus package was an example of
A.
B.
C.
D.
14.  The amount of the aggregate demand shift in response to an increase in government spending depends on
A.
B.
C.
D.
15.  A $75 billion tax cut will
A.
B.
C.
D.
16.  Because transfer payments rise when the economy is contracting and fall when it is expanding, they are referred to as
A.
B.
C.
D.
17.  Which of the following statements is true?
A.
B.
C.
D.
18.  The government budget deficit is most likely to rise when
A.
B.
C.
D.
19.  A requirement to have an annually balanced federal budget would mean
A.
B.
C.
D.
20.  The implicit liabilities of the U.S. government
A.
B.
C.
D.
21.  The money supply is
A.
B.
C.
D.
22.  Which of the following statements is FALSE?
A.
B.
C.
D.
23.  Which of the following is NOT a role played by money?
A.
B.
C.
D.
24.  Which of the following is NOT commodity money?
A.
B.
C.
D.
25.  The value of fiat money arises from
A.
B.
C.
D.
26.  Which of the following transactions would leave M2 unchanged but increase M1?
A.
B.
C.
D.
27.  M1 includes those assets that are
A.
B.
C.
D.
28.  Federal deposit insurance serves to
A.
B.
C.
D.
29.  The size of the U.S. money supply
A.
B.
C.
D.
30.  When you deposit $100 cash in your checking account,
A.
B.
C.
D.
31.  Which of the following transactions would decrease M1 and leave M2 unchanged?
A.
B.
C.
D.
32.  The money supply expands when
A.
B.
C.
D.
33.  The monetary base is
A.
B.
C.
D.
34.  Which of the following items is a component of the monetary base but is not part of the money supply?
A.
B.
C.
D.
35.  Which of the following is part of both the monetary base and the money supply?
A.
B.
C.
D.
36.  The money multiplier is the ratio of
A.
B.
C.
D.
37.  How many regional Federal Reserve Banks are there?
A.
B.
C.
D.
38.  Open market operations are carried out by the Federal Reserve Bank of New York as a means of
A.
B.
C.
D.
39.  When the Federal Reserve purchases Treasury bills on the open market,
A.
B.
C.
D.
40.  What type of action might the Federal Open Market Committee take in order to meet the goal of contracting the money supply?
A.
B.
C.
D.
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