Introduction to Macroeconomics MCQs
Introduction to Macroeconomics MCQs
Try to answer these 100+ Introduction to Macroeconomics MCQs and check your understanding of the Introduction to Macroeconomics subject.
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1: A period of ____ economic expansion
A. Long
B. Prolonged
C. Short
D. Medium
2: Short-term fluctuations in the economy relative to the long-term trend in output is called
A. Market cycles
B. Business cycles
C. Proper cycles
D. Unemployment cycle
3: A measure of the cost of a market basket that represents the consumption of a typical household is called consumer price index
A. True
B. False
4: When the economy is slowing down—measured from the peak to the trough is called
A. Extraction
B. Contraction
C. Relaxation
D. Loss
5: Unemployment due to short-term cyclical fluctuations in the economy is cyclical unemployment
A. True
B. False
6: A decrease in the overall price level, which increases the purchasing power of money is called
A. Deflation
B. Depression
C. Disappointment
D. Destruction
7: A severe recession or contraction in output is called
A. Deflation
B. Depression
C. Disappointment
D. Destruction
8: An individual who has left the labor force because he or she could not find a job is known as
A. Courged worker
B. Discouraged worker
C. Extraordinary worker
D. Weak labour
9: Efficiency wage model is theory stating that ____ wages lead to greater productivity
A. Lower
B. Higher
C. Equal
D. Zero
10: When output (real GDP) is rising significantly—the period between the trough of a recession and the next peak is called
A. Contraction
B. Expansion
C. Extraction
D. Distraction
11: The unemployment that results from workers searching for suitable jobs and firms looking for suitable workers is frictional unemployment
A. True
B. False
12: GDP deflator is a price index that helps measure the ____ price level of all final consumer goods and services produced
A. Higher
B. Lower
C. Average
D. Half
13: Extremely high rates of inflation for sustained periods of time is called
A. Hyperinflation
B. Hypoinflation
C. Average inflation
D. None of these
14: The percentage change in the price level from one year to the next is called inflation rate
A. True
B. False
15: A person who quits his or her job is job leaver
A. True
B. False
16: An individual who has been temporarily laid off or fired is job loser
A. True
B. False
17: The number of people age ___ and over who are available for employment is labour force
A. 18
B. 16
C. 20
D. 22
18: The percentage of the working-age population in the labor force is called labour force participation rate
A. True
B. False
19: Leading economic indicators are factors that economists at the Department of Commerce have found typically change before changes in economic activity
A. True
B. False
20: The costs imposed on a firm from changing listed prices is called
A. Menu costs
B. Sale costs
C. High costs
D. All of these
21: An hourly wage floor set above the equilibrium wage is minimum wage rate
A. True
B. False
22: The median, or “typical,” unemployment rate, equal to the sum of frictional and structural unemployment when they are at a maximum is natural rate of unemployment
A. True
B. False
23: An individual who has not held a job before but is now seeking employment is ___ entrant
A. Old
B. New
C. Loser
D. All of these
24: The reported interest rate that is not adjusted for inflation is called nominal interest rate
A. True
B. False
25: The point in time when expansion comes to an end, that is, when output is at the highest point in the cycle is called
A. Peak
B. Slope
C. Graph
D. None of these
26: The amount of real output the economy would produce if its labor and other resources were fully employed, that is, at the natural rate of unemployment is called potential output
A. True
B. False
27: A measure of the trend in prices paid for a certain bundle of goods and services over a given period is called
A. Price review
B. Price index
C. Price value
D. All of these
28: The ____ level of prices in the economy is price level
A. High
B. Low
C. Average
D. Constant
29: Producer price index is a measure of the cost of goods and services bought by firms
A. True
B. False
30: The total value of all final goods and services produced in a given period, such as a year or a quarter, adjusted for inflation is real gross domestic product
A. True
B. False
31: A period of significant decline in output and employment is called
A. Reentrant
B. Recession
C. Reversible
D. None of these
32: An individual who worked before and is now reentering the labor force is called
A. Reentrant
B. Recession
C. Reversible
D. None of these
33: The price of a specific good compared to the price of other goods is called
A. Relative price
B. Fair price
C. Fractional price
D. All of these
34: The time and inconvenience cost incurred when individuals reduce their money holdings because of inflation is known as shoe leather cost
A. True
B. False
35: The unemployment that results from the persistent mismatch of the skills of workers and the requirements of jobs is ____ employment
A. Functional
B. Structural
C. Physical
D. All of these
36: ____ is the point in time when output stops declining, that is, when business activity is at its lowest point in the cycle
A. Crest
B. Trough
C. Slope
D. All of these
37: Under employment is a situation in which a worker’s skill level is higher than necessary for a job
A. True
B. False
38: Unemployment is the percentage of the population age ____ and older who are willing and able to work but are unable to obtain a job
A. 18
B. 24
C. 16
D. 26
39: What is meant by real in the term real gross domestic product?
A. Relevant to economists
B. Calculated, not estimated
C. Literal, not figurative
D. Adjusted for inflation
40: Which of the following refers to the percentage of the population age 16 and older who are willing and able to work but are unable to obtain a job?
A. Labor force
B. Unemployment rate
C. Civilian labor force
D. Discouraged workers
41: Why is the unemployment rate an imperfect measure of unemployment?
A. It does not take into account discouraged workers.
B. It includes workers in the underground economy.
C. It does not take into account teenage workers.
D. It focuses too much on the condition of underemployment.
42: Which of the following groups typically has a high rate of unemployment?
A. High school graduates
B. Retirees
C. Teenagers
D. Skilled workers
43: Which type of unemployment results from the persistent mismatch of the skills of workers and the requirements of jobs?
A. Cyclical
B. Frictional
C. Seasonal
D. Structural
44: Which of the following types of unemployment is used to calculate the natural rate of unemployment?
A. Cyclical
B. Seasonal
C. Structural
D. Typical
45: The amount of real output the economy would produce if its labor and other resources were fully employed is known as ______.
A. Expected output
B. Full-time output
C. Overemployment
D. Potential output
46: In which of the following environments is the efficiency wage most likely to be effective?
A. Corporate
B. Government
C. Manufacturing
D. Nonprofit
47: Which of the following best describes the purpose of unemployment insurance?
A. To reduce economic hardship and the severity of recessions
B. To decrease the level of frictional unemployment in the economy
C. To bypass the moral hazard of seasonal unemployment
D. To combat the effects of falling inflation
48: How has automation affected highly skilled workers?
A. It has increased their demand for union jobs.
B. It has increased their overall wages.
C. It has decreased their importance in the economy.
D. It has decreased their need for technical training.
49: The price of a specific good compared to the price of other goods is known as ______.
A. Consumer price
B. Price index
C. Price level
D. Relative price
50: Which of the following is a price index based on?
A. A bundle of representative goods and services
B. A bundle of randomly selected goods and services
C. A single representative good or service
D. A single randomly selected good or service
List of Introduction to Macroe...
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Introduction to Macroeconomics MCQs
Введение в вопросы макроэкономики на русском языке
Introducción a las cuestiones de Macroeconomía en español
フランス語でのマクロ経済学の質問の紹介
Introduzione alle questioni di Macroeconomia nelle lingue italiane
Introduction aux questions de macroéconomie en langues françaises
Introdução às questões de Macroeconomia em Língua Portuguesa
Einführung in Fragen der Makroökonomie in deutschen Sprachen
中文（简体）语言宏观经济学问题介绍
مقدمة في أسئلة الاقتصاد الكلي باللغات العربية
Pengantar soal-soal Ekonomi Makro dalam bahasa Indonesia
Türk dillerinde Makroekonomi sorularına giriş
