Macro Economics Test Questions
with 100% Correct Answers
Which of the following would be studied by a macroeconomist?
A. investments by Google
B. consumption by one household
C. the economy
D. demand for Apple watches
E. price of gasoline - Answer-C. the economy
The market value of all final goods and services produced in a nation during a particular
period is called the _____
A. gross national product.
B. gross world product.
C. net national product.
D. gross domestic product.
E. national income. - Answer-A. gross domestic product.
The measure of the market value of all final goods and services produced in a state
during a particular period, usually a year is called the _____
gross domestic product.
gross state product.
net national product.
mercantilism.
gross world product. - Answer-gross state product.
, The measure of the market value of all final goods and services produced in the world
during a particular period, usually a year, is called the _____
gross state product.
gross world product.
National Economy
gross domestic product.
net national product.
mercantilism. - Answer-gross world product.
How is GDP calculated?
by adding up the quantity of all goods and services in the economy
by measuring the economy's price level during a particular year
by adding up the cost of all goods and services in the economy
by subtracting the value of all goods and services produced by the government and the
value of those produced by the private sector
by adding up the production of all goods and services in the economy - Answer-by
adding up the production of all goods and services in the economy
Macroeconomics studies _____
A. the role of input suppliers in determining the price and quantity of output.
B. the price and output decisions made by different industries.
C. the overall performance of the economy.
D. the role of a market in determining an efficient outcome.
E. the different costs associated with production. - Answer-C. the overall performance of
the economy.
The objective of macroeconomics is to _____
A. study the effect of tariffs and quotas on the production of goods and services.
with 100% Correct Answers
Which of the following would be studied by a macroeconomist?
A. investments by Google
B. consumption by one household
C. the economy
D. demand for Apple watches
E. price of gasoline - Answer-C. the economy
The market value of all final goods and services produced in a nation during a particular
period is called the _____
A. gross national product.
B. gross world product.
C. net national product.
D. gross domestic product.
E. national income. - Answer-A. gross domestic product.
The measure of the market value of all final goods and services produced in a state
during a particular period, usually a year is called the _____
gross domestic product.
gross state product.
net national product.
mercantilism.
gross world product. - Answer-gross state product.
, The measure of the market value of all final goods and services produced in the world
during a particular period, usually a year, is called the _____
gross state product.
gross world product.
National Economy
gross domestic product.
net national product.
mercantilism. - Answer-gross world product.
How is GDP calculated?
by adding up the quantity of all goods and services in the economy
by measuring the economy's price level during a particular year
by adding up the cost of all goods and services in the economy
by subtracting the value of all goods and services produced by the government and the
value of those produced by the private sector
by adding up the production of all goods and services in the economy - Answer-by
adding up the production of all goods and services in the economy
Macroeconomics studies _____
A. the role of input suppliers in determining the price and quantity of output.
B. the price and output decisions made by different industries.
C. the overall performance of the economy.
D. the role of a market in determining an efficient outcome.
E. the different costs associated with production. - Answer-C. the overall performance of
the economy.
The objective of macroeconomics is to _____
A. study the effect of tariffs and quotas on the production of goods and services.
