Exam (elaborations)
Test Bank For Macroeconomics, 10th Edition N. Gregory Mankiw
- Course
- Institution
- Book
Test Bank For Macroeconomics, 10th Edition N. Gregory Mankiw
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Chapter 2: Data Of Macroeconomics
-
ECON 302 - Exam I
Seller
Follow
phatjoe
Reviews received
Content preview
1. Macroeconomics does not try to answer the question of:A) why some countries experience rapid growth.
B) what is the rate of return on education.
C) why some countries have high rates of inflation.
D) what causes recessions and depressions.
2. A typical trend during a recession is that:
A) the unemployment rate falls.
B) the popularity of the incumbent president rises.
C) incomes fall.
D) the inflation rate rises.
3. Macroeconomics is the study of the:
A) activities of individual units of the economy.
B) decisionmaking by households and firms.
C) economy as a whole.
D) interaction of firms and households in the marketplace.
4. The study of the economy as a whole is called:
A) household economics.
B) business economics.
C) microeconomics.
D) macroeconomics.
5. The ability of macroeconomists to predict the future course of economic events:
A) is no better than a meteorologist's ability to predict the next month's weather.
B) is much better than a meteorologist's ability to predict the next month's weather.
C) has gotten worse over time.
D) is less precise than it was in the 1920s.
6. Which of the combinations listed is not a U.S. president and an important economic
issue of his administration?
A) President Carter, inflation
B) President Reagan, budget deficits
C) President G. H. W. Bush, budget deficits
D) President Clinton, inflation
Page 1
, 7. All of the following are types of macroeconomics data except the:
A) price of a computer.
B) growth rate of real GDP.
C) inflation rate.
D) unemployment rate.
8. All of the following except _______ are important macroeconomic variables.
A) real GDP
B) the unemployment rate
C) the marginal rate of substitution
D) the inflation rate
9. The total income of everyone in the economy adjusted for the level of base year prices is
called:
A) a recession.
B) an inflation.
C) real GDP.
D) a business fluctuation.
10. A measure of how fast the general level of prices is rising is called the:
A) growth rate of real GDP.
B) inflation rate.
C) unemployment rate.
D) market-clearing rate.
11. The inflation rate is a measure of how fast:
A) the total income of the economy is growing.
B) unemployment in the economy is increasing.
C) the general level of prices in the economy is rising.
D) the number of jobs in the economy is expanding.
12. Real GDP ______ over time, and the growth rate of real GDP ______.
A) grows; fluctuates
B) is steady; is steady
C) grows; is steady
D) is steady; fluctuates
Page 2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller phatjoe. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now