Macroeconomics MCQ's Questions and
Answers (100% Correct Answers) Already
Graded A+
In the long run, economic growth is determined by: [ Ans:
] the productivity of inputs.
an increase in labour.
an increase in capital.
Macroeconomics is the branch of economics that
examines: [ Ans: ] the economic behaviour of aggregates -
income, employment, and output - on a national scale.
If real GDP is growing more slowly than the rate of
population growth, then, ceteris paribus, the average
standard of living is: [ Ans: ] decreasing
The total market value of all final goods and services
produced within a given period by factors of production
located within a country is: [ Ans: ] gross domestic
product.
Cash payments made by the government to people who do
not supply goods, services, or labour in exchange for
these payments are known as [ Ans: ] transfer payments.
An example of a transfer payment is: [ Ans: ] a social
security retirement benefit.
, The diagram that shows the income received and
payments made by each sector of the economy is the: [
Ans: ] circular flow diagram.
Nominal values are measured in ________ and real values
take account of ________. [ Ans: ] current prices; inflation
The circular flow of income diagram shows: [ Ans: ]
output equals income equals expenditure
The four categories of expenditures that make up GDP are
consumption, [ Ans: ] investment, net exports, and
government expenditures.
The major lesson of the circular flow diagram is that: [
Ans: ] one person's expenditure is someone else's receipt
The study of how wages are set for university lecturers
would be considered as: [ Ans: ] microeconomics.
Which of the following is a withdrawal from the circular
flow of income? [ Ans: ] Savings
Within the circular flow of income, injections are
composed of [ Ans: ] investment, government and export
expenditure.
Gross domestic product measured in current pounds is: [
Ans: ] nominal GDP.
Gross national product measures the value of ________,
while gross domestic product measures the value of
Answers (100% Correct Answers) Already
Graded A+
In the long run, economic growth is determined by: [ Ans:
] the productivity of inputs.
an increase in labour.
an increase in capital.
Macroeconomics is the branch of economics that
examines: [ Ans: ] the economic behaviour of aggregates -
income, employment, and output - on a national scale.
If real GDP is growing more slowly than the rate of
population growth, then, ceteris paribus, the average
standard of living is: [ Ans: ] decreasing
The total market value of all final goods and services
produced within a given period by factors of production
located within a country is: [ Ans: ] gross domestic
product.
Cash payments made by the government to people who do
not supply goods, services, or labour in exchange for
these payments are known as [ Ans: ] transfer payments.
An example of a transfer payment is: [ Ans: ] a social
security retirement benefit.
, The diagram that shows the income received and
payments made by each sector of the economy is the: [
Ans: ] circular flow diagram.
Nominal values are measured in ________ and real values
take account of ________. [ Ans: ] current prices; inflation
The circular flow of income diagram shows: [ Ans: ]
output equals income equals expenditure
The four categories of expenditures that make up GDP are
consumption, [ Ans: ] investment, net exports, and
government expenditures.
The major lesson of the circular flow diagram is that: [
Ans: ] one person's expenditure is someone else's receipt
The study of how wages are set for university lecturers
would be considered as: [ Ans: ] microeconomics.
Which of the following is a withdrawal from the circular
flow of income? [ Ans: ] Savings
Within the circular flow of income, injections are
composed of [ Ans: ] investment, government and export
expenditure.
Gross domestic product measured in current pounds is: [
Ans: ] nominal GDP.
Gross national product measures the value of ________,
while gross domestic product measures the value of
