Макроэкономика
$$$1 The labor force includes:
$$ employed workers and persons who are officially unemployed;
$$$2 Anne Kasperson works in her own home as a full-time caretaker and homemaker. Officially, she is:
$$ not in the labor force;
$$$3 lf the unemployment rate is 9 percent and the natural rate of unemployment is 5.5 percent, then the:.
$$ cyclical unemployment rate is 3.5 percent.
$$$4 During a serious recession we would expect output to fall the most in:
$$ the machine tool industry;
$$$5 The phase of the business cycle where real domestic output declines is called:
$$ a recession;
$$$6 The phase of the business cycle where real domestic output is at a minimum is called:
$$ a recession;
.$$$7 Capitalist economies are characterized by:
$$ instability of employment and price levels;
$$$8 The production of durable goods is more variable than the production of nondurable goods because:
$$ durables purchases are postponable and producers of durables have monopoly power;
$$$9 A recession is defmed as a period in which:
$$ real domestic output falls;
$$$10 Kimberly voluntarily quit her job as an insurance agent to return to school fu11-time to earn an MBA degree. With degree in hand she is now searching for a position in management. Kimberly presently is:
$$ frictionally unemployed;
$$$11 The immediate determinant of the volume of output and employment is the:
$$ level of total spending;
.$$$12 In which of the following industries or sectors of the economy is output likely to be most strongly affected by the business cycle?
$$ producer's durables (machinery, equipment, etc.);
$$$1 3 In which of the fo1lowing industries or sectors of the economy is price likely to be most strongly affected by the business cycle?
$$ agricultural commodities (wheat, com, etc.);
$$$14 The presence of discouraged workers:
;$$ may cause the official unemployment rate to understate the amotint of unemployment;
$$$15 Part-time workers are counted as:
$$ fully employed and therefore the official unemployment rate tends to understate the level of unemployment;
$$$16 Assuming the total population is 100 million, the civilian labor force is 50 million, and 47 million workers are unemployed, the unemployment rate:
$$ is 6 percent;
$$$17 The natural rate of unemployment is the:
$$ full-employment unemployment rate;
$$$18 Assume Smith is temporarily unemployed because he has voluntarily quit his job with company A and will begin a better job next week with company B. Smith will be considered as:
$$ frictionally unemployed;
$$$19 The unemployment rate is the:
$$ percentage of the labor force which is out of work;
. $$$20 Although economists differ as to the level of the full-employment unemployment rate, most would agree that full employment means an unemployment rate of about:
$$ 5.5-6 percent;
$$$21 Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this, the official unemployment rate would:
$$ decline;
$$$22 Eckstein has lost her job in a Massachusetts textile plant because of import competition. She intends to take a short course in electronics and move to California where she anticipates new jobs will be available. We can say that Eckstein is faced with:
$$ structural unemployment;
.$$$23 Cyclical unemployment is a consequence of:
$$ a deficiency of aggregate 'spending;
;
$$$24 The type of unemployment associated with recessions is called:
$$ cyclical unemployment;
$$$25 Search unemployment and wait unemployment are types of:
$$ frictional unemployment;
$$$26 The GDP gap measures the:
$$ amount by which potential GDP exceeds actual GDP;
$$$27 The natural rate of unemployment is the:
$$ a high rate of unemployment;
$$$28 The natural rate of unemployment is the:
$$ potential GDP is in excess of actual GDP;
$$$29 Assume the natural rate of unemployment in our economy is 5 percent and the actual rate of unemployment is 9 percent. According to Okun's law, the GDP gap:
$$ is 10 percent;
.$$$30 Okun's law:
$$ shows the relationship between the unemployment rate and the size of the GDP gap;
$$$31"For every 1 percent that the actual unemployment rate exceeds the natural rate, there is generated a 2.5 percent GDP gap." This is a statement of:
$$ Okun's law;
$$$32 Inflation means that:
$$ prices in the aggregate are rising, although some particular prices may be falling;
$$$33 If the consumer price index falls from 120 to 116 in a particular year, the economy has experienced:
$$ deflation 3.33 percent;
$$$34 The consumer price index was 140.3 in 1992 and 144.5 in 1993. Therefore, the rate of inflation in 1993 was about:
$$ 3.0 percent;
$$$35 If the rate of inflation is 12 percent per year, the price level will double in about:
$$ 6 years;
$$$36 Demand-pull inflation:
$$ occurs when total spending exceeds the economy's ability to provide output
at the existing price level;
$$$37 Demand-pull inflation:
$$ can occur before. the economy has reached its full-employment output;
$$$38"Too much money chasing too few goods" best describes:
$$ demand-pull inflation;
$$$39 "For every 1 percent that the actual unemployment rate exceeds the natural rate, there is generated a 2.5 percent GDP gap." This is a statement of:
$$ is self-limiting;
;$$$40 Inflation initiated by increases in wages or other resource prices is labeled:
$$ cost-push inflation;
$$$41 Cost-push inflation:
$$ moves the economy inward from its production possibilities curve;
$$$42 Cost-push inflation may be caused by:
;$$ a negative supply shock;
$$$43 Real income can be determined by:
$$ deflating nominal income for inflation.
$$$44 Suppose that a person's nominal income rises from $10,000 to $12,000 and the consumer price index rises from 00 to 105. The person's real income will:
$$ rise by about 15 percent;
$$$45 Inflation affects:
$$ both the level and the distribution of income;
$$$46 If the nominal interest rate is 12 percent and the real interest rate is 8percent, then the inflation premium is:
$$ 4 percent;
$$$47 If both the real interest rate and the nominal interest rate are 3 percent, then the:
$$ inflation premium is zero.
$$$48 Suppose the nominal annual interest rate on a two year loan is 16 percent and lenders expect inflation to be 10 percent in each of the two years. The annual real rate of interest is:
$$ 6 percent;
$$$49 For purposes of comparing changes in potential military strength and political preeminence, which measure of economic growth would be most meaningful?
$$ changes in total real output;
$$$50 If a nation's real GDP is growing by 5 percent per year, its real GDP will double in approximately:
$$ 14 years;
$$$51 If the economy's real GDP doubles in 18 years, we can:
$$ conclude that its average annual rate of growth is about 4 percent;
$$$52 Which of the following countries has achieved the highest rate of growth of GDP in the past three decades?
$$ Japan;
$$$53 Data on the growth of real GDP and real GDP per capita:
$$ understate the growth of economic well-being because they fail to take into
account declines in the work week;
$$$54 Labor productivity is measured by:
$$ real output per worker hour;
$$$55 Which of the following would not be expected to increase labor productivity?
$$ an increase in the size of the labor force;
$$$56 Which of the following is correct?
$$ total output = worker-hours x labor productivity;
$$$57 Labor productivity may be defined as:
$$ total output/worker-hours;
$$$58 Which of the following is not a supply factor in economic growth?
$$ full employment;
$$$59 Data on the growth of real GDP and real GDP per capita:
$$ outward shift of the production possibilities curve;
$$$60 Which of the following would not be expected to increase labor productivity
$$ rightward shift of the long-run AS curve;
$$$61 The achievement of full employment through time will:
$$ increase the rate of growth of real GDP;
$$$62 If a natural resource such as oil or lead becomes increasingly scarce:
$$ its price will rise, signaling greater conservation in its use and a more
intensive technological search for substitutes;
$$$63 The aggregate demand curve:
$$ shows the amount of real output which will be purchased at each possible
price level;
$$$64 The aggregate demand curve is:
$$ downsloping because of the interest-rate, wealth or real balances, and foreign
purchases effects;
$$$65 The interest-rate effect suggests that:
$$ an increase in the price level will increase the demand for money, increase
interest rates, and decrease consumption and investment spending
$$$66 The wealth or real balances effect indicates that:
$$ a higher price level will decrease the real value of many financial assets and therefore reduce spending;
$$$67 The interest-rate and real balances effects are important because they help explain:
$$ the shape of the aggregate demand curve;
$$$68 The wealth, interest rate, and foreign-purchases effects all help explain:
$$ why the aggregate demand curve is downsloping;
;$$$69 A nation's gross domestic product (GDP):
$$ is the money value of the total output produced within the borders of the nation;
$$$70 A nation's gross national product (GNP):
$$ is the money value of the total output produced by its citizens, regardless of
where they are living;
$$$71 The GDP may be defined as the:
$$ monetary value of all final domestic goods and services produced within a
nation in a given year.
$$$72 The main difference between GDP and GNP is that GDP includes:
$$ net foreign factor income earned in the Kazakhstan;
$$$73 Gross domestic product would equal gross national product when:
$$ net foreign factor income earned in the Kazakhstan is zero;
$$$74 Suppose Smith pays $ 100 to Jones.
$$ We need more information to determine whether GDP has changed;
$$$75 Suppose that the total market value of all final goods and services produced in a
particular country in 1996 is $500 billion and the total market value of final
goods and services sold is $450 billion. We can conclude that:
Suppose that the total market value of all final goods and services produced in a
particular country in 1996 is $500 billion and the total market value of final
goods and services sold is $450 billion. We can conclude that:
$$ GDP in 1996 is $500 billion.
.$$$76 Economic growth is defined as an increase in:
$$ real national income;
$$$77 Economic growth is usually measured as the
$$ percentage increase in real GNP or GDP;
$$$78 For a country with a constant rate of growth, the time required for real national income to double can be found by using the rule of:
$$ 72;
$$$80 In terms of the aggregate demand-aggregate supply model, economic growth is shown as a/an
$$ rightward shift in the aggregate supply curve;
$$$81 An abundance of natural resources:
$$ can contribute to economic growth but is not necessary for growth.
$$$82 Growth in a country's capital stock is tied to:
$$ current and future saving;
$$$83 Which of the following is not one of the determinants of economic growth?
$$ the shape of the aggregate demand curve.
$$$84 Total factor productivity is the ratio of:
$$ a nation's output to its stock of labor and capital;
$$$85 Economic growth is the sum of:
$$ growth in total factor productivity and growth in resources;
$$$86 Which of the following affects aggregate demand only indirectly?
$$ taxes;
$$$87 Expansionary fiscal policy refers to:
$$ increasing government spending and decreasing taxes;
$$$88 An increase in government spending:
$$ shifts aggregate demand to the right;
.$$$89 If the aggregate supply curve slopes up before reaching potential national income:
$$ the government must increase its spending by more than the recessionary gap to reach potential income;
$$$90 Which of the following statements is false?
$$ Developed countries rely more on their governments to provide the infrastructure of the economy than do developing countries;
$$$91 Which of the following statements is true?
$$ Developing countries rely more heavily on indirect taxes than do developed countries;
$$$92 The ultimate goal of monetary policy is:
$$ economic growth with stable prices;
$$$93 According to the equation of exchange:
$$ if the money supply increases and velocity is constant, nominal GDP must rise;
$$$94 A student who cashes a check at the student union in order to go shopping is an example of the:
$$ transactions demand for money;
$$$95 The supply of money is:
$$ independent of income and interest rates.
$$$96 Currency appreciation is:
$$ an increase in the value of a currency under floating exchange rates;
$$$97 Currency depreciation is:
$$a decrease in the value of a currency under floating exchange rates;
$$$98 Which of the following statements about fixed and floating exchange rates is false?
$$ Floating exchange rates put pressure on a nation to manage its macroeconomic policy in concert with other nations;
$$$99 Economically, an open economy is one in which:
$$ a large fraction of the country's GNP is devoted to internationally traded goods;
$$$100 Multiple exchange rates:
;$$ have the same effects as taxes and subsidies;
$$$101 Which of the following statements is false?
$$ Developed countries rely more on their governments to provide the infrastructure of the economy than do developing countries;
$$$101 Which of the following statements is true?
$$ Developing countries rely more heavily on indirect taxes than do developed countries;
$$$102 The ultimate goal of monetary policy is:
$$ economic growth with stable prices;
$$$103 According to the equation of exchange:
$$ if the money supply increases and velocity is constant, nominal GDP must rise;
$$$104 A student who cashes a check at the student union in order to go shopping is an example of the:
$$ transactions demand for money;
$$$105 The phase of the business cycle where real domestic output declines is called:
$$ a recession;
$$$106 The phase of the business cycle where real domestic output is at a minimum is called:
$$ a recession;
$$$107 Capitalist economies are characterized by:
$$ instability of employment and price levels;
$$$108 The production of durable goods is more variable than the production of nondurable goods because:
$$ durables purchases are postponable and producers of durables have monopoly power;
$$$109 A recession is defmed as a period in which:
$$ real domestic output falls;
$$$110 Kimberly voluntarily quit her job as an insurance agent to return to school fu11-time to earn an MBA degree. With degree in hand she is now searching for a position in management. Kimberly presently is:
$$ frictionally unemployed;
$$$ 111 The labor force includes:
$$ employed workers and persons who are officially unemployed;
$$$112 Anne Kasperson works in her own home as a full-time caretaker and homemaker. Officially, she is:
$$ not in the labor force;
$$$113 lf the unemployment rate is 9 percent and the natural rate of unemployment is 5.5 percent, then the:.
$$ cyclical unemployment rate is 3.5 percent.
$$$114 The presence of discouraged workers:
$$ may cause the official unemployment rate to understate the amotint of unemployment;
$$$115 Part-time workers are counted as:
$$ fully employed and therefore the official unemployment rate tends to understate the level of unemployment;
$$$116 Assuming the total population is 100 million, the civilian labor force is 50 million, and 47 million workers are unemployed, the unemployment rate:
$$ is 6 percent;
$$$117 The natural rate of unemployment is the:
$$ full-employment unemployment rate;
$$$118 Assume Smith is temporarily unemployed because he has voluntarily quit his job with company A and will begin a better job next week with company B. Smith will be considered as:
$$ frictionally unemployed;
$$$119 The unemployment rate is the:
$$ percentage of the labor force which is out of work;
$$$120 Although economists differ as to the level of the full-employment unemployment rate, most would agree that full employment means an unemployment rate of about:
$$ 5.5-6 percent;
$$$121 Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this, the official unemployment rate would:
$$ decline;
$$$122 Eckstein has lost her job in a Massachusetts textile plant because of import competition. She intends to take a short course in electronics and move to California where she anticipates new jobs will be available. We can say that Eckstein is faced with:
$$ structural unemployment;
$$$123 Cyclical unemployment is a consequence of:
$$ a deficiency of aggregate 'spending;
$$$124 The type of unemployment associated with recessions is called:
$$ cyclical unemployment;
$$$125 Search unemployment and wait unemployment are types of:
$$ frictional unemployment;
$$$126 The GDP gap measures the:
$$ amount by which potential GDP exceeds actual GDP;
$$$127 The natural rate of unemployment is the:
$$ a high rate of unemployment;
$$$128 The natural rate of unemployment is the:
$$ potential GDP is in excess of actual GDP;
$$$129 Assume the natural rate of unemployment in our economy is 5 percent and the actual rate of unemployment is 9 percent. According to Okun's law, the GDP gap:
$$ is 10 percent;
$$$130 Okun's law:
$$ shows the relationship between the unemployment rate and the size of the GDP gap;
$$$131"For every 1 percent that the actual unemployment rate exceeds the natural rate, there is generated a 2.5 percent GDP gap." This is a statement of:
$$ Okun's law;
$$$132 Inflation means that:
$$ prices in the aggregate are rising, although some particular prices may be falling;
$$$133 If the consumer price index falls from 120 to 116 in a particular year, the economy has experienced:
$$ deflation 3.33 percent;
$$$134 The consumer price index was 140.3 in 1992 and 144.5 in 1993. Therefore, the rate of inflation in 1993 was about:
$$ 3.0 percent;
$$$135 If the rate of inflation is 12 percent per year, the price level will double in about:
$$ 6 years;
$$$136 Demand-pull inflation:
$$ occurs when total spending exceeds the economy's ability to provide output
at the existing price level;
$$137 Demand-pull inflation:
$$ can occur before. the economy has reached its full-employment output;
$$$138"Too much money chasing too few goods" best describes:
;$$ demand-pull inflation;
$$$139 "For every 1 percent that the actual unemployment rate exceeds the natural rate, there is generated a 2.5 percent GDP gap." This is a statement of:
$$ is self-limiting;
$$$140 Inflation initiated by increases in wages or other resource prices is labeled:
$$ cost-push inflation;
$$$141 Cost-push inflation:
$$ moves the economy inward from its production possibilities curve;
$$$142 Cost-push inflation may be caused by:
$$ a negative supply shock;
$$$143 Real income can be determined by:
$$ deflating nominal income for inflation.
$$$144 Suppose that a person's nominal income rises from $10,000 to $12,000 and the consumer price index rises from 00 to 105. The person's real income will:
$$ rise by about 15 percent;
$$$145 Inflation affects:
$$ both the level and the distribution of income;
$$$146 If the nominal interest rate is 12 percent and the real interest rate is 8percent, then the inflation premium is:
$$ 4 percent;
$$$147 If both the real interest rate and the nominal interest rate are 3 percent, then the:
$$$148 Suppose the nominal annual interest rate on a two year loan is 16 percent and lenders expect inflation to be 10 percent in each of the two years. The annual real rate of interest is:
$$ 6 percent;
$$$149 For purposes of comparing changes in potential military strength and political preeminence, which measure of economic growth would be most meaningful?
$$ changes in total real output;
$$$150 If a nation's real GDP is growing by 5 percent per year, its real GDP will double in approximately:
$$ 14 years;
$$$151 If the economy's real GDP doubles in 18 years, we can:
$$ conclude that its average annual rate of growth is about 4 percent;
$$$152 Which of the following countries has achieved the highest rate of growth of GDP in the past three decades?
$$ Japan;
$$$153 Data on the growth of real GDP and real GDP per capita:
$$ understate the growth of economic well-being because they fail to take into
account declines in the work week;
$$$154 Labor productivity is measured by:
$$ real output per worker hour;
$$$155 Which of the following would not be expected to increase labor productivity?
$$ an increase in the size of the labor force;
$$$156 Which of the following is correct?
$$ total output = worker-hours x labor productivity;
$$$157 Labor productivity may be defined as:
$$ total output/worker-hours;
$$$158 Which of the following is not a supply factor in economic growth?
$$ full employment;
$$$159 Data on the growth of real GDP and real GDP per capita:
$$ outward shift of the production possibilities curve;
$$$160 Which of the following would not be expected to increase labor productivity
$$ rightward shift of the long-run AS curve;
$$$161 The achievement of full employment through time will:
$$ increase the rate of growth of real GDP;
$$$162 If a natural resource such as oil or lead becomes increasingly scarce:
$$ its price will rise, signaling greater conservation in its use and a more
intensive technological search for substitutes;
intensive technological search for substitutes;
$$$163 The aggregate demand curve:
$$ shows the amount of real output which will be purchased at each possible
price level;
$$$164 The aggregate demand curve is:
$$ downsloping because of the interest-rate, wealth or real balances, and foreign
purchases effects;
$$$165 The interest-rate effect suggests that:
$$ an increase in the price level will increase the demand for money, increase
interest rates, and decrease consumption and investment spending
$$$166 The wealth or real balances effect indicates that:
$$ a higher price level will decrease the real value of many financial assets and therefore reduce spending;
$$$167 The interest-rate and real balances effects are important because they help explain:
$$ the shape of the aggregate demand curve;
$$$168 The wealth, interest rate, and foreign-purchases effects all help explain:
$$ why the aggregate demand curve is downsloping;
$$$169 A nation's gross domestic product (GDP):
$$ is the money value of the total output produced within the borders of the nation;
$$$170 A nation's gross national product (GNP):
$$ is the money value of the total output produced by its citizens, regardless of
where they are living;
$$$171 The GDP may be defined as the:
$$ monetary value of all final domestic goods and services produced within a
nation in a given year.
$$$172 The main difference between GDP and GNP is that GDP includes:
$$ net foreign factor income earned in the Kazakhstan;
$$$173 Gross domestic product would equal gross national product when:
$$ net foreign factor income earned in the Kazakhstan is zero;
$$$174 Suppose Smith pays $ 100 to Jones.
$$ We need more information to determine whether GDP has changed;
$$$175 Suppose that the total market value of all final goods and services produced in a
particular country in 1996 is $500 billion and the total market value of final
goods and services sold is $450 billion. We can conclude that:
Suppose that the total market value of all final goods and services produced in a
particular country in 1996 is $500 billion and the total market value of final
goods and services sold is $450 billion. We can conclude that:
$$ GDP in 1996 is $500 billion.
$$$176 Economic growth is defined as an increase in:
$$ real national income;
$$$177 Economic growth is usually measured as the
$$ percentage increase in real GNP or GDP;
$$$178 For a country with a constant rate of growth, the time required for real national income to double can be found by using the rule of:
$$ 72;
$$$179 Per capita real national income is real national income divided by:
$$$80 In terms of the aggregate demand-aggregate supply model, economic growth is shown as a/an
$$ rightward shift in the aggregate supply curve;
$$$180 "For every 1 percent that the actual unemployment rate exceeds the natural rate, there is generated a 2.5 percent GDP gap." This is a statement of:
$$ is self-limiting;
Дата добавления: 2015-11-04; просмотров: 19 | Нарушение авторских прав
| <== предыдущая лекция | | | следующая лекция ==> |
| Http://ficbook. Net/readfic/3130833 | | |