chapter_05_-_the_realm_of_macroeconomics2

chapter_05_-_the_realm_of_macroeconomics2 - Test Bank...

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Page 1 of 9 Test Bank Macroeconomics: Theory and Policy Chapter 05: The Realm of Macroeconomics B. Modjtahedi UCD Students: Ignore the Yellow Highlighted Questions Question 1. The study of which of the following issues belongs in microeconomics? A. Profit made by automakers. B. Fluctuations in the price of wheat. C. Disneyland’s pricing policies. D. All of the above. E. None of the above. Question 2. The study of which of the following issues belongs in microeconomics? A. Unemployment in France. B. Inflation in Germany. C. Employment in the U.S. computer industry. D. Growth in the national output in Malaysia. E. None of the above. Question 3. The study of which of the following questions belongs in microeconomics? A. What was the reason for the unemployment in Europe between the two wars? B. What causes the inflation rate to be high in a country? C. How can we reduce unemployment in a country? D. What policies should we adopt in order to increase our national output? E. None of the above. Question 4. The study of which of the following issues belongs in macroeconomics? A. The price of computers in Sweden has been falling in the last few decades. B. The U.S. agricultural production has increased by 5% per year over the last decade. C. Chinese economy has experienced a very high growth rate over the last few years. D. Milk production in Tajikistan has slowed down. E. None of the above. Question 5. Which of the following is NOT a production factor? A. Land B. Labor C. Capital D. Money E. None of the above. Question 6. Which of the following is not a macroeconomic policy?
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Page 2 of 9 A. Industrial policy B. Fiscal policy C. Monetary policy D. Supply side policy. E. None of the above. Question 7. Which of the following is NOT one of the three major macroeconomic variables? A. Aggregate level of output B. Overall stock prices C. General price level D. Overall employment E. None of the above. Question 8. Which of the following are the three major macroeconomic variables? A. Aggregate level of output, general price level, overall employment B. Aggregate level of output, general price level, stock prices C. Aggregate level of output, the interest rate, stock prices D. Money supply, the interest rate, stock prices E. None of the above. Question 9. What is the fallacy of composition? A. What is true for one individual may not be true for another individual. B. What is true for one individual may not be true for the sum of all the individuals. C. What is true for one individual may also be true for another individual. D. What is true for one individual may be true for the sum of all the individuals. E. None of the above. Question 10. What are the three major macroeconomic issues? A. Growth, inflation, high interest rates.
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This note was uploaded on 03/24/2010 for the course ECON Econ1B taught by Professor Baghermodjtahedi during the Spring '09 term at UC Davis.

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chapter_05_-_the_realm_of_macroeconomics2 - Test Bank...

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