A Macroeconomics Practice Quiz!
(76).jpg "A Macroeconomics Practice Quiz!")
Macroeconomics is the branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. Do you need some practice for an upcoming assignment or test? Do you wanna test your knowledge on it? Take the Quiz!
- 1.
![Diffrence between Real and Nominal GDP is:
- ProProfs]( "Diffrence between Real and Nominal GDP is:")
- A.
Measured by excluding some of the sectors
- B.
That real GDP is always smaller than Nominal GDP.
- C.
Change in price level from base year to current year.
- D.
None of the above.
- 2.
![GDP is the market value of all the final goods:
- ProProfs]( "GDP is the market value of all the final goods:")
GDP is the market value of all the final goods:- A.
Produced domestically.
- B.
Produced by domestic factors of production.
- C.
Produced by all factors of production.
- D.
All of the above.
- 3.
![When comparing a nation's economic position with another, one should see its:
- ProProfs]( "When comparing a nation's economic position with another, one should see its:")
- A.
GDP
- B.
Per Capita GDP.
- C.
Currency in circulation.
- D.
None of the above.
- 4.
![Verticle intercept of consumption function indicates:
- ProProfs]( "Verticle intercept of consumption function indicates:")
Verticle intercept of consumption function indicates:- A.
Average propensity to consume.
- B.
Consumption at zero level of income.
- C.
Both of the above.
- D.
None of the above.
- 5.
![In consumption function, c = a+by
- ProProfs]( "In consumption function, c = a+by")
In consumption function, c = a+by- A.
B is intercept
- B.
Slope of the function
- C.
MPC
- D.
a & C
- 6.
![In Keynesian Framework, Income is measured along:
- ProProfs]( "In Keynesian Framework, Income is measured along:")
In Keynesian Framework, Income is measured along:- A.
45 degree line
- B.
Verticle axis.
- C.
Horizontal axis.
- D.
All are correct.
- 7.
![If investment is exogenous to the Income determination model it can be shown as
- ProProfs]( "If investment is exogenous to the Income determination model it can be shown as")
If investment is exogenous to the Income determination model it can be shown as- A.
Verticle line.
- B.
Horizontal line.
- C.
All of the above.
- D.
None of the above.
- 8.
![In closed economy GDP equals
- ProProfs]( "In closed economy GDP equals")
- A.
C+I+X-N
- B.
C+I
- C.
C+I+G
- D.
All of the above.
- 9.
![In the model Y=C+I+G and C=a+by, Where b=0.8, the expenditure multiplier is
- ProProfs]( "In the model Y=C+I+G and C=a+by, Where b=0.8, the expenditure multiplier is")
In the model Y=C+I+G and C=a+by, Where b=0.8, the expenditure multiplier is- A.
1
- B.
4
- C.
5
- D.
None of the above
(16).jpg "Diffrence between Real and Nominal GDP is:")
(11).jpg "GDP is the market value of all the final goods:")
(12).jpg "When comparing a nation's economic position with another, one should see its:")
(11).jpg "Verticle intercept of consumption function indicates:")
(11).jpg "In consumption function, c = a+by")
(10).jpg "In Keynesian Framework, Income is measured along:")
(12).jpg "If investment is exogenous to the Income determination model it can be shown as")
(13).jpg "In closed economy GDP equals")
(13).jpg "In the model Y=C+I+G and C=a+by, Where b=0.8, the expenditure multiplier is")
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