Let's Learn About Types Of Macroeconomics
This quiz covers many topics of macroeconomics. It includes labor & unemployment, inflation, Phillips curve, and income distribution. There are 10 multiple choice questions and you will have 10 minutes to complete the quiz. GOOD LUCK!
- 1.All of the following are not included in the labor force except
- A.
Stay-at-home parents.
- B.
Discouraged workers.
- C.
Students.
- D.
People looking for a job.
- E.
Retired people.
- 2.Unemployment is caused by
- A.
Greedy people.
- B.
Capitalism.
- C.
Uneducated people.
- D.
Communism.
- E.
Socialism.
- 3.Policies that are intended to promote access to employment for non-dominate groups is know as
- A.
Affirmative action.
- B.
Transfer payments.
- C.
Government support.
- D.
Quotas.
- 4.Cost-push inflation is caused by a change in
- A.
Demand.
- B.
Supply.
- C.
Money supply.
- D.
Interest rates.
- 5.Monetary inflation is caused by a change in
- A.
Demand.
- B.
Supply.
- C.
Money supply.
- D.
Interest rates.
- 6.The Phillips curve illustrates what type of relationship between unemployment and inflation?
- A.
Direct
- B.
Inverse
- C.
No relationship
- 7.The Phillips curve was proven incorrect because of what economic concept?
- A.
Deflation
- B.
Stagflation
- C.
Inflation
- D.
Monetary policy
- 8.The TOTAL amount of income is known as
- A.
Functional income.
- B.
Disposable income.
- C.
Gross income.
- D.
Discretionary income.
- 9.The total amount of income an individual makes after taxes is known as
- A.
Functional income.
- B.
Disposable income.
- C.
Gross income.
- D.
Discretionary income.
- 10.A payment of money from the government to an individual is known as
- A.
A transfer payment.
- B.
Affirmative action.
- C.
Inflation.
- D.
Gross income.
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