Macroeconomics Questions And
Answers With Correct Update
1. vIn vwhich vof vthe vfollowing vcountries vwill vthe vnational vgovernment vhave vthe vgreatest vinfluence
vwith vrespect v to v the vnation's veconomy? vCUBA v- vAnswer v- v
2. vIn va vcommand veconomy, vthe v__________ veither vmakes vmost veconomic vdecisions vitself vor vat
vleast vstrongly vinfluences vhow vthe vdecisions vare vmade. v- vAnswer v- vgovernment
3. vBecause vof vtheir vrelatively vsmall vnational veconomies, vwhich vof vthe vfollowing vis vmost vlikely
vconsidered vto vbe vthe vmost vimportant vfactor vfor vBelgium, vKorea, vand vCanada vto vtake vfull
vadvantage vof vspecialization?
A. vdivision vof vlabour
B. vinternational vtrade
C. veconomies vof vscale
D. vcommand veconomy v- vAnswer v- vb
4. vIn va v_______________________, vmost veconomic vdecisions vabout vwhat vto vproduce, vhow vto
vproduce vit, vand vfor vwhom vto vproduce vit vare vmade vby vbuyers vand vsellers
A. vmarket-oriented veconomy
B. vmacroeconomy
C. vmicroeconomy
D. vcommand veconomy v- vAnswer v- vA
5. vWhich vof vthe vfollowing vis vgenerally vaccepted vas va vvalid vcriticism vof vthe vproduction vof vuseful
vgoods vand vservices
A. vgovernment vinvolvement
B. vthe vblack vmarket
,C. venvironmental vpollution--
D. veconomic vfreedom v- vAnswer v- vc
7. vIf vmacroeconomics vlooks vat vthe veconomy vas va vwhole, vit vfocuses von vwhich vof vthe vfollowing?
A. vhouseholds
B. vbusiness vfirms
C. vunemployed vpeople
D. vthe vdivision vof vlabor v- vAnswer v- vc
8. vIn vthe v______________, vhouseholds vreceive vgoods vand vservices vand vpay vfirms vfor vthem
A. vlabor vmarket
B. vfinancial vcapital vmarket
C. vgoods vand vservices vmarket--
D. vsavings vmarket v- vAnswer v- vc
9. vWhen vnations vdesire va vhealthy vmacroeconomy, vthey vtypically vfocus von vthree vgoals, vone vof
vthese vbeing:
A. vlabor vmarket
B. vfinancial vcapital vmarket
C. vgoods vand vservices vmarket
D. vsavings vmarket v- vAnswer v- vc
10. vThe vbasic vdifference vbetween vmacroeconomics vand vmicroeconomics vis
A. vmicroeconomics vconcentrates von vindividual vmarkets vwhile vmacroeconomics vfocuses vprimarily
von vinternational vtrade.
B. vmicroeconomics vconcentrates von vthe vbehaviour vof vindividual vconsumers vwhile
vmacroeconomics vfocuses von v the vbehaviour vof vfirms.
C. vmicroeconomics vconcentrates von vthe vbehaviour vof vindividual vconsumers vand vfirms vwhile
vmacroeconomics vfocuses von v the vperformance vof v the ventire veconomy.----
, D. vmicroeconomics vexplores vthe vcauses vof vinflation vwhile vmacroeconomics vfocuses von vthe vcauses
vof vunemployment v- vAnswer v- v c
11. vWhich vof vthe vfollowing vis vmost vlikely va vtopic vof vdiscussion vin vmacroeconomics
A. van vincrease vin vthe vprice vof va vhamburger
B. va vdecrease vin vthe vproduction vof vDVD vplayers vby va vconsumer velectronics vcompany
C. van vincrease vin vthe vwage vrate vpaid vto vautomobile vworkers
D. va vdecrease vin vthe vunemployment vrate v- vAnswer v- vD
Specialization
vA. vleads vto vgreater vself-sufficiency.
B. vcan vlead vto van vincrease vin voverall vproduction.---
C. vallows vworkers vto vdevelop vskills vby vworking von va vlarge vnumber vof vtasks
D. vis valways vthe vresult vof van vinefficient vuse vof vresources v- vAnswer v- vb
13. vIn va vmarket-oriented veconomy, vthe vamount vof va vgood vthat vis vproduced vis vprimarily vdecided
vby vthe vinteraction vo
fA. vall vconsumers.
B. vbuyers vand vsellers.
C. vproducers vand vinput vsuppliers.
D. vproducers vand vgovernment vplanning vcommittees v- vAnswer v- vb
14. vWhich vof vthe vfollowing vstatements vmost vlikely vlies vwithin vthe vrealm vof vmacroeconomics
A. vAn vincrease vin vthe vprice vof vautomobiles vwill vlead vto va vdecrease vin vthe vquantity vof
vautomobiles vdemanded.
B. vDue vto vprocess vinnovations vin vcomputer vchip vmanufacturing, vthe vmarket vsupply vof vcomputers
vincreased.
C. vDue vto van veconomic vrecession, vmanufacturing vfirms vbegan vimplementing vlayoffs vof vtheir
vworkforces.---
D. vAnticipating vthat vthe vbenefits vwould voutweigh vcosts vinvolved, van vundergraduate vstudent
vpurchases vthe vcourse vtextbook. v- vAnswer v- v c
Answers With Correct Update
1. vIn vwhich vof vthe vfollowing vcountries vwill vthe vnational vgovernment vhave vthe vgreatest vinfluence
vwith vrespect v to v the vnation's veconomy? vCUBA v- vAnswer v- v
2. vIn va vcommand veconomy, vthe v__________ veither vmakes vmost veconomic vdecisions vitself vor vat
vleast vstrongly vinfluences vhow vthe vdecisions vare vmade. v- vAnswer v- vgovernment
3. vBecause vof vtheir vrelatively vsmall vnational veconomies, vwhich vof vthe vfollowing vis vmost vlikely
vconsidered vto vbe vthe vmost vimportant vfactor vfor vBelgium, vKorea, vand vCanada vto vtake vfull
vadvantage vof vspecialization?
A. vdivision vof vlabour
B. vinternational vtrade
C. veconomies vof vscale
D. vcommand veconomy v- vAnswer v- vb
4. vIn va v_______________________, vmost veconomic vdecisions vabout vwhat vto vproduce, vhow vto
vproduce vit, vand vfor vwhom vto vproduce vit vare vmade vby vbuyers vand vsellers
A. vmarket-oriented veconomy
B. vmacroeconomy
C. vmicroeconomy
D. vcommand veconomy v- vAnswer v- vA
5. vWhich vof vthe vfollowing vis vgenerally vaccepted vas va vvalid vcriticism vof vthe vproduction vof vuseful
vgoods vand vservices
A. vgovernment vinvolvement
B. vthe vblack vmarket
,C. venvironmental vpollution--
D. veconomic vfreedom v- vAnswer v- vc
7. vIf vmacroeconomics vlooks vat vthe veconomy vas va vwhole, vit vfocuses von vwhich vof vthe vfollowing?
A. vhouseholds
B. vbusiness vfirms
C. vunemployed vpeople
D. vthe vdivision vof vlabor v- vAnswer v- vc
8. vIn vthe v______________, vhouseholds vreceive vgoods vand vservices vand vpay vfirms vfor vthem
A. vlabor vmarket
B. vfinancial vcapital vmarket
C. vgoods vand vservices vmarket--
D. vsavings vmarket v- vAnswer v- vc
9. vWhen vnations vdesire va vhealthy vmacroeconomy, vthey vtypically vfocus von vthree vgoals, vone vof
vthese vbeing:
A. vlabor vmarket
B. vfinancial vcapital vmarket
C. vgoods vand vservices vmarket
D. vsavings vmarket v- vAnswer v- vc
10. vThe vbasic vdifference vbetween vmacroeconomics vand vmicroeconomics vis
A. vmicroeconomics vconcentrates von vindividual vmarkets vwhile vmacroeconomics vfocuses vprimarily
von vinternational vtrade.
B. vmicroeconomics vconcentrates von vthe vbehaviour vof vindividual vconsumers vwhile
vmacroeconomics vfocuses von v the vbehaviour vof vfirms.
C. vmicroeconomics vconcentrates von vthe vbehaviour vof vindividual vconsumers vand vfirms vwhile
vmacroeconomics vfocuses von v the vperformance vof v the ventire veconomy.----
, D. vmicroeconomics vexplores vthe vcauses vof vinflation vwhile vmacroeconomics vfocuses von vthe vcauses
vof vunemployment v- vAnswer v- v c
11. vWhich vof vthe vfollowing vis vmost vlikely va vtopic vof vdiscussion vin vmacroeconomics
A. van vincrease vin vthe vprice vof va vhamburger
B. va vdecrease vin vthe vproduction vof vDVD vplayers vby va vconsumer velectronics vcompany
C. van vincrease vin vthe vwage vrate vpaid vto vautomobile vworkers
D. va vdecrease vin vthe vunemployment vrate v- vAnswer v- vD
Specialization
vA. vleads vto vgreater vself-sufficiency.
B. vcan vlead vto van vincrease vin voverall vproduction.---
C. vallows vworkers vto vdevelop vskills vby vworking von va vlarge vnumber vof vtasks
D. vis valways vthe vresult vof van vinefficient vuse vof vresources v- vAnswer v- vb
13. vIn va vmarket-oriented veconomy, vthe vamount vof va vgood vthat vis vproduced vis vprimarily vdecided
vby vthe vinteraction vo
fA. vall vconsumers.
B. vbuyers vand vsellers.
C. vproducers vand vinput vsuppliers.
D. vproducers vand vgovernment vplanning vcommittees v- vAnswer v- vb
14. vWhich vof vthe vfollowing vstatements vmost vlikely vlies vwithin vthe vrealm vof vmacroeconomics
A. vAn vincrease vin vthe vprice vof vautomobiles vwill vlead vto va vdecrease vin vthe vquantity vof
vautomobiles vdemanded.
B. vDue vto vprocess vinnovations vin vcomputer vchip vmanufacturing, vthe vmarket vsupply vof vcomputers
vincreased.
C. vDue vto van veconomic vrecession, vmanufacturing vfirms vbegan vimplementing vlayoffs vof vtheir
vworkforces.---
D. vAnticipating vthat vthe vbenefits vwould voutweigh vcosts vinvolved, van vundergraduate vstudent
vpurchases vthe vcourse vtextbook. v- vAnswer v- v c
