Macroeconomics Practice Quiz Questions And Answers

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Macroeconomics Practice Quiz Questions And Answers - Quiz

Are you looking for practice material for an upcoming assignment or test in macroeconomics? Check out these macroeconomics practice quiz questions and answers and test your knowledge for the same. Macroeconomics is the field of economics that deals with the performances, structure, behavior, and decision-making of economies as a whole. The quiz below will test how well you know its basics and concepts. Are you ready to take this test? Go for it, then.


Questions and Answers
  • 1. 
    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:
    • 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:
    • A. 

      GDP

    • B. 

      Per Capita GDP.

    • C. 

      Currency in circulation.

    • D. 

      None of the above.

  • 4. 
    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
    • A. 

      B is intercept

    • B. 

      Slope of the function

    • C. 

      MPC

    • D. 

      a & C

  • 6. 
    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
    • A. 

      Verticle line.

    • B. 

      Horizontal line.

    • C. 

      All of the above.

    • D. 

      None of the above.

  • 8. 
    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
    • A. 

      1

    • B. 

      4

    • C. 

      5

    • D. 

      None of the above

  • 10. 
    The negative relationship between inflation and unemployment is characterized by ___________ in macroeconomics.
    • A. 

      The Engle curve

    • B. 

      The indifference curve

    • C. 

      Okun’s law

    • D. 

      The Phillips curve

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