ch11 - ch11 Student: _ 1. Which of the following is not...

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ch11 Student: ___________________________________________________________________________ 1. Which of the following is not included in the study of macroeconomics? A. Business cycles B. The unemployment rate C. Inflation D. Market structures 2. Which of the following is a measure of overall economic well being for the United States? A. The U.S. unemployment rate B. U.S. population growth C. The behavior of U.S. monopolies D. The price of fuel in Oregon 3. Which of the following is a measure of overall economic well being for the United States? A. Population growth B. GDP growth C. Tax policy D. Retirement benefits 4. All of the following are used to measure a country's economic welfare except: A. A change in relative prices. B. The unemployment rate. C. The output produced. D. A change in production capacity. 5. According to the text, which of the following is a macroeconomic outcome? A. Internal market forces B. Policy levers C. International balance D. Population growth 6. According to the text, which of the following is a determinant of macroeconomic performance? A. Prices B. Policy levers C. The unemployment rate D. The international value of the dollar 7. According to the text, which of the following is not a determinant of macroeconomic outcomes? A. Technological change B. A major earthquake C. Economic growth D. An increase in the money supply 8. External shocks to an economy include: A. Innovation, population growth, and spending behavior. B. Disruptions in trade, wars, and natural disasters. C. Tax policy, government spending, and the availability of money. D. Jobs, prices, and growth. 9. Which of the following are policy levers? A. Population growth, spending behavior, and invention B. Wars, natural disasters, and trade disruptions C. Government regulation, tax policy, and the availability of money D. Jobs, prices, and growth
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10. The Classical view of the economy is characterized by: A. A laissez-faire approach. B. The inherent instability of the economy. C. The belief that demand creates its own supply. D. Overt fiscal policy. 11. Which of the following concepts is not consistent with Classical theory? A. Self-adjustment of the economy B. Use of monetary policy C. Flexible prices D. A laissez faire approach 12. Self-adjustment of markets is assumed in: A. Classical economic theory. B. Keynesian theory. C. Supply-side economic theory. D. The eclectic viewpoint. 13. Which theories of the economy lead to the assertion that markets "self-adjust" to deviations from their long-term growth trend? A. Keynesian theories B. Monetarist theories C. Classical theories D. Supply-side theories 14. Which of the following is necessary for an economy to self-adjust fairly quickly, according to classical economists? A. The use of monetary policy
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ch11 - ch11 Student: _ 1. Which of the following is not...

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