Macro Study Questions

Macro Study Questions - changes in government spending c....

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Study questions Look at your quiz for a guide as to how I might ask some of those questions Look at # 8 on the quiz, calculate inflation from 2007 to 2008 using the CPI. Some sample questions to give you an idea of format. 1. Saudi Arabia has a tremendous comparative advantage in petroleum. Which of the following is a source of this comparative advantage? a. mild temperatures b. large reserves of crude oil c. no opportunity costs associated with oil production d. high tariffs on oil from other countries 2. Monetary policy involves: a. changes in government taxes b.
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Unformatted text preview: changes in government spending c. changes in the quantity of money d. changes in government taxes and spending 3. Which of the following is included in GDP a. Purchases of Microsoft stock b. Social security payments to elderly c. Purchase of a Rolling Stones concert ticket d. Purchase of a used 1965 camaro 4. A survey reveals that on a small island 40 people have jobs, 10 people are looking for jobs, and 30 people are neither working nor looking for work. The unemployment rate on the island is: a. 12.5% b. 20% c. 25% d. 50% Answers 1. b 2. c 3. c 4. b...
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Macro Study Questions - changes in government spending c....

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