PracticeMakeup Macro Qs - ECON 1007 Introduction to...

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ECON 1007 – Introduction to Economics II (Macroeconomics) Practice Questions for Chapters 19 to 25 Multiple-Choice: 1. A government budget surplus equals a. net taxes minus government spending on good and services. b. government spending on goods and services minus investment. c. consumption expenditure minus net taxes. d. None of the above. 2. When thirty workers are laid off and cannot find new jobs because they lack the necessary skills, ________ employment has increased. 3. An inflationary gap occurs when 4. Which of the following does NOT shift potential GDP?
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