Chapter 1
Introduction
1)
In 2005, the_ per-capita GDP in the_ United States was about
A.
$17,500.
B)
$27,500.
C)
$37,500.
D)
$47,500.
Ans:
C
Question Status:
New
2)
Which of the_ following topics is NOT a primary concern of macroeconomists?
A.
fluctuations in the_ level of economic activity
B)
differences in standards of living across countries
C)
relative wages of skilled and unskilled workers
D)
unemployment
Ans:
C
1
, Question Status:
Previous Edition
3)
Which of the_ following questions is of most interest for MACROECONOMISTS?
A.
Why is there inflation?
B)
Why does the_ steel industry want tariffs?
C)
What is the_ appropriate stance of antitrust policy?
D)
Why do foreigners immigrate to the_ United States?
Ans:
A
Question Status:
Previous Edition
4)
Primarily, macroeconomists use microeconomic principles to study
A.
business cycles and trends in the_ stock market.
B)
long-run economic growth and antitrust policies.
C)
trends in the_ stock market and long-term economic growth.
D)
long-run economic growth and business cycles.
Ans:
D
2
, Question Status:
Previous Edition
5)
The_ two most important American business cycle events of the_ twentieth century were
A.
the_ Great Depression and stagflation.
B)
World War II and the_ Great Depression.
C)
the_ productivity slowdown and the_ Great Depression.
D)
government budget deficits and World War II.
Ans:
B
Question Status:
Previous Edition
6)
Over the_ course of the_ twentieth century, the_ typical American
A.
remained equally as rich.
B)
became twice as rich.
C)
became five times as rich
D)
became eight times as rich.
Ans:
D
3
, Question Status:
Previous Edition
7)
Which of the_ following assertions is false?
A.
The_ Great Depression was a typical business cycle.
B)
Very rapid growth occurred during World War II.
C)
Real GDP per capita dipped about 30% during the_ Great Depression.
D)
On average, the_ U.S. economy grows at a rate of 2.1%.
Ans:
A
Question Status:
New
8)
The_ relationship between the_ level of growth of an economic variable, gt, and its level, yt, is best
approximated as
A.
1 r
gt =
1 R .
4
Introduction
1)
In 2005, the_ per-capita GDP in the_ United States was about
A.
$17,500.
B)
$27,500.
C)
$37,500.
D)
$47,500.
Ans:
C
Question Status:
New
2)
Which of the_ following topics is NOT a primary concern of macroeconomists?
A.
fluctuations in the_ level of economic activity
B)
differences in standards of living across countries
C)
relative wages of skilled and unskilled workers
D)
unemployment
Ans:
C
1
, Question Status:
Previous Edition
3)
Which of the_ following questions is of most interest for MACROECONOMISTS?
A.
Why is there inflation?
B)
Why does the_ steel industry want tariffs?
C)
What is the_ appropriate stance of antitrust policy?
D)
Why do foreigners immigrate to the_ United States?
Ans:
A
Question Status:
Previous Edition
4)
Primarily, macroeconomists use microeconomic principles to study
A.
business cycles and trends in the_ stock market.
B)
long-run economic growth and antitrust policies.
C)
trends in the_ stock market and long-term economic growth.
D)
long-run economic growth and business cycles.
Ans:
D
2
, Question Status:
Previous Edition
5)
The_ two most important American business cycle events of the_ twentieth century were
A.
the_ Great Depression and stagflation.
B)
World War II and the_ Great Depression.
C)
the_ productivity slowdown and the_ Great Depression.
D)
government budget deficits and World War II.
Ans:
B
Question Status:
Previous Edition
6)
Over the_ course of the_ twentieth century, the_ typical American
A.
remained equally as rich.
B)
became twice as rich.
C)
became five times as rich
D)
became eight times as rich.
Ans:
D
3
, Question Status:
Previous Edition
7)
Which of the_ following assertions is false?
A.
The_ Great Depression was a typical business cycle.
B)
Very rapid growth occurred during World War II.
C)
Real GDP per capita dipped about 30% during the_ Great Depression.
D)
On average, the_ U.S. economy grows at a rate of 2.1%.
Ans:
A
Question Status:
New
8)
The_ relationship between the_ level of growth of an economic variable, gt, and its level, yt, is best
approximated as
A.
1 r
gt =
1 R .
4
