Steady economic growth, lower taxes and reduction of trade deficits
Stable prices, full employment & reduction of trade deficits
Q 2/22
Score 0
Gross domestic product is a method for calculating how much a country produces by adding which four spending categories?
30
Wages, rent, interest & profit
Consumption, investment, government and net exports
Consumption, Investment, Government & Business Expenditures
Consumption, interest rates, government & net exports
22 questions
Q.
Which of the following describes the goals of macroeconomics?
1
30 sec
Q.
Gross domestic product is a method for calculating how much a country produces by adding which four spending categories?
2
30 sec
Q.
What is inflation?
3
30 sec
Q.
Comparing real GDP between two consecutive years is MOST useful in determining which economic measurement?
4
30 sec
Q.
In an economy, when the price level falls, consumers and firms buy more goods and services. How is this relationship represented?
5
30 sec
Q.
What economic term refers to the percentage of people who want to work, but are unable to find employment?
6
30 sec
Q.
Concern about an international crisis has caused consumers to save their money and postpone big purchases. What is the immediate effect on aggregate demand, price level and aggregate supply?
7
30 sec
Q.
What is the purpose of the market basket?
8
30 sec
Q.
What happens to people living on a fixed income when there is rapid inflation in a country?
9
30 sec
Q.
Which situation below is MOST negatively affected by unanticipated inflation?
10
30 sec
Q.
In January, Bob is laid off from his job during a business cycle contraction. Which statement is TRUE?
11
30 sec
Q.
Which person is considered frictionally unemployed?
12
30 sec
Q.
In the business cycle, what is a contraction or a recesssion?
13
30 sec
Q.
What is the best description of a trough in the business cycle?
14
30 sec
Q.
What is the primary role of money in the economy?
15
30 sec
Q.
Which component of the Federal Reserve System manages the buying and selling of government securities?
16
30 sec
Q.
Which of these tools is an example of monetary policy?
17
30 sec
Q.
What would the Federal Reserve do if it wanted to stimulate the U.S. economy and reduce unemployment?
18
30 sec
Q.
Which statement BEST describes monetary policy and fiscal policy in the United States?
19
30 sec
Q.
With regards to economic growth, what is the goal of an expansionary fiscal policy?
20
30 sec
Q.
Which of these is MOST LIKELY to occur after the government increases taxes?
21
30 sec
Q.
How do government budget deficits impact the national debt?
