Macroeconomics Study Guide
-
What do you call the object/s that must be given up to obtain something else?
-
Opportunity cost
-
Market power
-
Marginal change
-
Productivity
-
Are you a macroeconomics student? Do you have an upcoming quiz to study for? Take this quiz to find out whether you have the basics down or not.
Quiz Preview
- 2.
Surplus shows
-
More demand than supplied
-
More imported than consumed
-
More supplied than demand
-
More consumed than exported
Correct Answer
A. More supplied than demand -
- 3.
The demand curve shows the relationship between the_______ and _______
-
Price and Opportunity
-
Price and Demand
-
Demand and Opportunity
Correct Answer
A. Price and Demand -
- 4.
How is an average cost calculated?
-
Total benefits/number of units
-
Total costs + benefits/number of units
-
Total costs/number of units
Correct Answer
A. Total costs/number of units -
- 5.
The income effect says lower prices _______ the purchasing power of buyers' income money.
-
Increases
-
Decreases
-
Does nothing to
Correct Answer
A. Increases -
- 6.
The law of demand states that as price _______, quantity demanded _______ and vice versa.
-
Falls, decreases
-
Falls,increases
-
Increases, increases
Correct Answer
A. Falls,increases -
- 7.
Marginal cost is the change in ______ of an activity resulting from an increase from one unit
-
Total costs
-
Total benefits
-
Total expenditure
Correct Answer
A. Total costs -
- 8.
Which of the following is NOT a way to increase the PPC?
-
Increase price
-
Increase resources
-
Increase technology
Correct Answer
A. Increase price -
Quiz Review Timeline (Updated): Oct 12, 2016 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Oct 12, 2016Quiz Edited by
ProProfs Editorial Team -
Feb 13, 2016Quiz Created by
Dupe7303
TAXATION AND PURCHASING POWER QUIZ
This quiz explores the relationship between taxation, purchasing power, and economic fundamentals like inflation, unemployment, and income metrics.
Questions:
30 |
Attempts:
109 |
Last updated:
Mar 17, 2023
|
Quiz 1- ECN 102 (105)
Quiz 1- ECN 102 (105) evaluates understanding of macroeconomic concepts such as GDP, labor productivity, output gaps, and consumption functions. It tests skills in analyzing...
Questions:
10 |
Attempts:
115 |
Last updated:
Mar 21, 2023
|
CLEP: Principles Of Macroeconomics! Trivia Quiz
The CLEP Principles of Macroeconomics test examines your basic knowledge of macroeconomics. Macroeconomics deals with a larger scale of the economy such as a country's...
Questions:
10 |
Attempts:
144 |
Last updated:
Mar 20, 2023
|
ECON 232 Macroeconomics Final Exam
The ECON 232 Macroeconomics Final Exam assesses understanding of key economic concepts such as scarcity, opportunity costs, comparative advantage, and trade benefits. It evaluates...
Questions:
58 |
Attempts:
549 |
Last updated:
Mar 21, 2023
|
Macroeconomics Basic MCQ Quiz!
Explore key concepts of Macroeconomics through this engaging MCQ quiz! Assess your understanding of job sectors, GDP components, economic growth impacts, and wage trends. Ideal...
Questions:
14 |
Attempts:
325 |
Last updated:
Mar 21, 2023
|
Macroeconomics 201 E1
Macroeconomics 201 E1 explores the impact of incentive structures on behavior through historical and contemporary examples, assessing understanding of economic principles and...
Questions:
34 |
Attempts:
546 |
Last updated:
Mar 21, 2023
|
Back to top