Macroeconomics
Quiz by Adrian Price
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39 questions
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- Q1This refers to people of working age who are actively looking for a job but who are not employed.Hidden UnemploymentUnderemploymentUnemployment60s
- Q2___________ is defined as the number of people who are employed (working) plus the number of people of working age who are unemployed (not working but seeking work)UnderemploymentHidden UnemploymentLabour ForceFrictional Unemployment60s
- Q3Discouraged workers are included in the Unemployment rate measure?TrueFalse60s
- Q4Meet Donald: During his election campaign, he said many jobs and factories had moved from the US to other countries, notably China and Mexico. This created unemployment in the US. What type of unemployment would this be classified as?FrictionalCyclicalStructural UnemploymentSeasonal60s
- Q5Meet Jenny: Jenny is a college student who recently graduated. She has had several offers from jobs in her field however she is holding out for a better offer. Is Jenny considered unemployed and if so, how would you class her unemployment?StructuralCyclicalSeasonalFrictional60s
- Q6An increase in CPI will predict a future increase in PPITrueFalse60s
- Q7Demand-Pull Inflation is caused by:An increase in Aggregate Demand with potential output remaining constantAn increase in the cost of production for firms such as increased raw materialsLower consumer confidence and lower spending60s
- Q8Which of the following is not a consequence of high inflation?Increased Export Competitiveness (Export Prices become more competative)UncertaintyRedistribution effect (From one stakeholder to another)Menu Costs60s
- Q9HL Only: Friedman "attacked" the view that there is a negative relationship between inflation and unemployment. Where did he believe about the LRPC?He believed in is fixed at a certain price level, thus there is no trade off or negative relationship in the long runHe believed in is fixed at the economies NRU, thus there is no trade off or negative relationship in the long runThe concept of the Long Run Philips Curve does not existI am an SL Student Please give me points for free :D (PS I can check who is an SL Student60s
- Q10Economic growth is defined as...An increase in nominal GDP over a period of timeAn increase in real GDP over a period of time60s
- Q11An increase in GDP will also equal an increase in GDP per capita.FalseTrue60s
- Q12Marketable Commodities are not required for an economy to achieve economic growthFalseTrue60s
- Q13A shift from point A to B is an increase inNeither Actual or PotentialActual OutputPotential Output60s
- Q14In the long run in order for the economy to experience an increase in output, a government mustIncrease Investment so that leads to higher productivityIncrease Productivity that leads to higher investment60s
- Q15Which of the following statements best explains the main reason why economies may have a more unequal distribution of incomeUnequal access to factors of production leads to a more unequal distribution of income due to the unequal distribution of factor payments.Unequal access to factors of production leads to a more equal distribution of income due to higher factor paymentsAccess to factors of production leads to a more unequal distribution of income due to more factor payments60s
