TOP câu hỏi trắc nghiệm Chapter 23 & 24: Measuring Income & Cost of Living Insights | Môn Macroeconomics - Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

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Chapter 23 Measuring a Nation's Income MULTIPLE CHOICE 1. Macroeconomists study
a. the decisions of individual households and firms.
b. the interaction between households and firms.
c. economy-wide phenomena.
d. regulations imposed on firms and unions.
2. Which of the following newspaper headlines is more closely related to what microeconomists study than to what macroeconomists study?
a. Unemployment rate rises from 5 percent to 5.5 percent.
b. Real GDP grows by 3.1 percent in the third quarter.
c. Retail sales at stores show large gains.
d. The price of oranges rises after an early frost. 3. GDP
a. is used to monitor the performance of the overall economy but is not the single best measure of a
society’s economic well-being.
b. is used to monitor the performance of the overall economy and is the single best measure of a
society’s economic well-being.
c. is not used to monitor the performance of the overall economy but is the single best measure of a
society’s economic well-being.
d. is not used to monitor the performance of the overall economy and is not the single best measure of
a society’s economic well-being.
4. Which of the following statements about GDP is correct?
a. GDP measures two things at once: the total income of everyone in the economy and the
total expenditure on the economy’s output of goods and services.
b. Money continuously flows from households to firms and then back to households, and
GDP measures this flow of money.
c. GDP is generally regarded as the best single measure of a society’s economic well-being.
d. All of the above are correct.
5. For an economy as a whole, income must equal expenditure because
a. the number of firms is equal to the number of households in an economy.
b. individuals can only spend what they earn each period.
c. every dollar of spending by some buyer is a dollar of income for some seller.
d. every dollar of saving by some consumer is a dollar of spending by some other consumer.
6. In a simple circular-flow diagram, firms use the money they get from a sale to a. pay wages to workers. b. pay rent to landlords.
c. pay profit to the firms’ owners.
d. All of the above are correct. lOMoAR cPSD| 58504431
7. In a simple circular-flow diagram, households buy goods and services with the income they get from a. wages. b. rents. c. profits.
d. All of the above are correct.
8.If the price of a Blu-Ray Disc player is three times the price of an MP3 player, then a Blue-Ray Disc player contributes
a. more than three times as much to GDP as does a MP3 player.
b. less than three times as much to GDP as does a MP3 player.
c. exactly three times as much to GDP as does a MP3 player.
d. None of the above is necessarily correct.
9. Suppose that an economy produces 40,000 units of good A which sells at $4 a unit and 20,000
units of good B which sells at $5 per unit. Production of good A contributes
a. 2 times as much to GDP as the production of good B.
b. 8/5 times as much to GDP as the production of good B.
c. 5/4 times as much to GDP as the production of good B.
d. 4/5 times as much to GDP as production of good B.
10. A good is produced by a firm in 2009, added to the firm’s inventory in 2010, and sold to a
household in 2010. As a result, on net,
a. 2009 GDP increased and 2010 GDP decreased.
b. 2009 GDP decreased and 2010 GDP increased.
c. 2009 GDP did not change and 2010 GDP increased.
d. 2009 GDP increased and 2010 GDP did not change.
11. Government purchases include spending on goods and services by
a. the federal government, but not by state or local governments.
b. federal and state governments, but not by local governments.
c. federal, state, and local governments.
d. federal, state, and local governments, as well as household spending by employees of those governments.
12. If a U.S. citizen buys a television made in Korea by a Korean firm, then
a. U.S. net exports decrease and U.S. GDP decreases.
b. U.S. net exports are unaffected and U.S. GDP decreases.
c. U.S. net exports are unaffected and U.S. GDP is unaffected.
d. U.S. net exports decrease and U.S. GDP is unaffected.
13. A German citizen buys an automobile produced in the United States by a Japanese company. As a result,
a. U.S. net exports increase, U.S. GDP is unaffected, Japanese GNP increases, German net
exports decrease, and German GNP and GDP are unaffected.
b. U.S. net exports and GDP increase, Japanese GNP increases, German net exports decrease,
German GNP is unaffected, and German GDP decreases. lOMoAR cPSD| 58504431
c. U.S. net exports and GDP increase, Japanese GNP increases, German net exports
decrease, and German GNP and GDP are unaffected.
d. U.S. net exports and GDP are unaffected, Japanese GNP increases, and German net
exports, GNP, and GDP decrease.
14. When an American household purchases a bottle of Italian wine for $100,
a. U.S. consumption does not change, U.S. net exports decrease by $100, and U.S. GDP decreases by $100.
b. U.S. consumption does not change, U.S. net exports increase by $100, and U.S. GDP increases by $100.
c. U.S. consumption increases by $100, U.S. net exports decrease by $100, and U.S. GDP does not change.
d. U.S. consumption increases by $100, U.S. net exports do not change, and U.S. GDP increases by $100.
15. An American soldier stationed in North Carolina receives a paycheck from the federal
government for $300, which she uses to purchase a $100 MP3 player made in China by a Chinese firm and
$200 for fruit and vegetables from a local farmers market. As a result, U.S. GDP increases by a. $200. b. $300. c. $500. d. $600.
16. In the economy of Ukzten in 2010, consumption was $6000, exports were $1000, GDP was
$10,000, government purchases were $2000, and imports were $600. What was Ukzten’s investment in 2010? a. $1400 b. $1600 c. $2400 d. $3600
17. In the economy of Ukzten in 2010, consumption was $3000, exports were $400, GDP was
$5000, imports were $600, and investment was $1100. What were Ukzten’s government purchases in 2010? a. $300 b. $500 c. $700 d. $1100
18. A country’s real GDP rose from 500 to 550 while its nominal GDP rose from 600 to 770. What
was this country’s inflation rate? a. 16.7% b. 20% c. -14.3% d. -20%
19. If real GDP is 5,100 and nominal GDP is 4,900, then the GDP deflator is lOMoAR cPSD| 58504431
a. 104.1 so prices are higher than in the base year.
b. 104.1 so prices are lower than in the base year.
c. 96.1 so prices are higher than in the base year.
d. 96.1 so prices are lower than in the base year.
20. If in some year real GDP was $5 trillion and the GDP deflator was 200, what was nominal GDP? a. $2.5 trillion b. $10 trillion c. $40 trillion d. $100 trillion lOMoAR cPSD| 58504431
Chapter 24 Measuring the Cost of Living MULTIPLE CHOICE
1. Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players
can earn more than 400 times as much as Babe Ruth earned in 1931. However, prices have also
risen since 1931. We can conclude that
a. the best baseball players today are about 400 times better off than Babe Ruth was in 1931.
b. because prices have also risen, the standard of living of baseball stars hasn't changed since 1931.
c. one cannot make judgments about changes in the standard of living based on changes in
prices and changes in incomes.
d. one cannot determine whether baseball stars today enjoy a higher standard of living than
Babe Ruth did in 1931 without additional information regarding increases in prices since 1931.
2. Which of the following is not correct?
a. The consumer price index gives economists a way of turning dollar figures into
meaningful measures of purchasing power.
b. The consumer price index is used to monitor changes in the cost of living over time.
c. The consumer price index is used by economists to measure the inflation rate.
d. The consumer price index is used to measure the quantity of goods and services that the economy is producing.
3. When the consumer price index falls, the typical family
a. has to spend more dollars to maintain the same standard of living.
b. can spend fewer dollars to maintain the same standard of living.
c. finds that its standard of living is not affected.
d. can save less because they do not need to offset the effects of rising prices.
4. When the overall level of prices in the economy is increasing, economists say that the economy is experiencing a. economic growth. b. stagflation. c. inflation. d. deflation.
5. Which of the following is correct?
a. The GDP deflator is better than the CPI at reflecting the goods and services bought by consumers.
b. The CPI is better than the GDP deflator at reflecting the goods and services bought by consumers.
c. The GDP deflator and the CPI are equally good at reflecting the goods and services bought by consumers.
d. The GDP deflator is more commonly used as a gauge of inflation than the CPI is. lOMoAR cPSD| 58504431
6. The CPI is a measure of the overall cost of
a. the inputs purchased by a typical producer.
b. the goods and services purchased by a typical consumer.
c. the goods and services produced in the economy.
d. the stocks on the New York Stock Exchange.
7.The CPI is a measure of the overall cost of the goods and services bought by
a. a typical consumer, and the CPI is computed and reported by the Department of the Treasury.
b. typical consumers and typical business firms, and the CPI is computed and reported by the Department of the Treasury.
c. a typical consumer, and the CPI is computed and reported by the Bureau of Labor Statistics.
d. typical consumers and typical business firms, and the CPI is computed and reported by the Bureau of Labor Statistics. 8. The CPI is calculated
a. monthly by the Department of Commerce.
b. monthly by the Bureau of Labor Statistics.
c. quarterly by the Department of Commerce.
d. quarterly by the Bureau of Labor Statistics.
9. The steps involved in calculating the consumer price index and the inflation rate, in order, are as follows:
a. Choose a base year, update the basket, find the prices, estimate the basket’s cost, compute
the index, and compute the inflation rate.
b. Choose a base year, fix the basket, find the prices, compute the inflation rate, compute the
basket's cost, and compute the index.
c. Fix the basket, find the prices, compute the basket's cost, choose a base year and compute
the index, and compute the inflation rate.
d. Fix the basket, find the prices, compute the inflation rate, compute the basket’s cost, and
choose a base year and compute the index.
10.In the calculation of the CPI, books are given greater weight than magazines if
a. consumers buy more books than magazines.
b. the price of books is higher than the price of magazines.
c. it costs more to produce books than it costs to produce magazines.
d. books are more readily available than magazines to the typical consumer.
11. What basket of goods and services is used to construct the CPI?
a. a random sample of all goods and services produced in the economy
b. the goods and services that are typically bought by consumers as determined by government surveys
c. only food, clothing, transportation, entertainment, and education
d. the least expensive and the most expensive goods and services in each major category of consumer expenditures lOMoAR cPSD| 58504431 12 .If 2004 is the base year, then the inflation rate for 2005 equals a. b. c. d.
13. If the consumer price index was 88 in 2009, 95 in 2010, and 100 in 2011, then the base year must be a. 2009. b. 2010. c. 2011.
d. The base year cannot be determined from the given information.
14. Suppose a basket of goods and services has been selected to calculate the CPI and 2002 has been
chosen as the base year. In 2002, the basket’s cost was $75.00; in 2004, the basket’s cost was
$79.50; and in 2006, the basket’s cost was $85.86. The value of the CPI was a. 100 in 2002. b. 106 in 2004. c. 114.48 in 2006.
d. All of the above are correct.
15. Suppose a basket of goods and services has been selected to calculate the CPI and 2002 has been
selected as the base year. In 2002, the basket’s cost was $50; in 2004, the basket’s cost was $52;
and in 2006, the basket’s cost was $57.25. The value of the CPI in 2006 was a. 91.6. b. 104.6. c. 109.2. d. 114.5.
16. For purposes of calculating the CPI, the apparel category of consumer spending includes the cost of
a. clothing, but not footwear or jewelry.
b. clothing and footwear, but not jewelry.
c. clothing and jewelry, but not footwear.
d. clothing, footwear, and jewelry.
17. An important difference between the GDP deflator and the consumer price index is that
a. the GDP deflator reflects the prices of goods and services bought by producers, whereas
the consumer price index reflects the prices of goods and services bought by consumers.
b. the GDP deflator reflects the prices of all final goods and services produced domestically,
whereas the consumer price index reflects the prices of goods and services bought by consumers. lOMoAR cPSD| 58504431
c. the GDP deflator reflects the prices of all final goods and services produced by a nation's
citizens, whereas the consumer price index reflects the prices of all final goods and services bought by consumers.
d. the GDP deflator reflects the prices of all final goods and services bought by producers and
consumers, whereas the consumer price index reflects the prices of all final goods and services bought by consumers. 18. Table 11-9
The table below relates to the economy of Mainland, where the typical consumer’s market
basket consists of 2 iPhones and 3 hamburgers. Year Price of an iPhone Price of a hamburger 2007 $400 $3 2008 $300 $5 2009 $325 $7
Refer to Table 11-9. If the base year is 2007, then the economy’s inflation rate in 2008 is a. -24 percent. b. -17 percent. c. 9.2 percent. d. 24 percent.
19. Nate collected Social Security payments of $220 a month in 1985. If the price index rose from
90 to 108 between 1985 and 1986, then his Social Security payments for 1986 should have been a. $228. b. $238. c. $257. d. $264.
20. If the nominal interest rate is 7 percent and the real interest rate is -2.5 percent, then the inflation rate is a. -9.5 percent. b. -4.5 percent. c. 4.5 percent. d. 9.5 percent.
Chapter 25: Production and Growth Multiple choice QUIZ 3 Description Dear Students,
This QUIZ is your practical exercise. Please practice this Quiz before finishing the
class. Note that there is no scoring for this QUIZ. Regards, Tam lOMoAR cPSD| 58504431
Instructions Read the following questions carefully and choose the answer that best describes.
There are 20 questions in total and each question has 5 points (100 points in total).
The given time for this quiz is 30 minutes.
1. The average income in a rich country, such as the United States or Japan, is more than
a. 3 times, but less than 5 times, the average income in a poor country, such as Indonesia or Nigeria.
b. 5 times, but less than 10 times, the average income in a poor country, such as Indonesia or Nigeria.
c. 10 times, but less than 20 times, the average income in a poor country, such as Indonesia or Nigeria.
d. more than 20 times the average income in a poor country, such as Indonesia or Nigeria.
2. In which of the following countries has economic growth been sufficiently strong in recent
history to propel that country from being among the poorest in the world to being among the richest in the world? a. South Korea b. Senegal c. India d. Indonesia
3. Productivity is the amount of goods and services
a. an economy produces. It is not linked to a nation’s economic policies.
b. an economy produces. It is linked to a nation’s economic policies.
c. produced for each hour of a worker’s time. It is not linked to a nation’s economic policies.
d. produced for each hour of a worker’s time. It is linked to a nation’s economic policies.
4. A nation's standard of living is best measured by its a. real GDP. b. real GDP per person. c. nominal GDP. d. nominal GDP per person.
5. If one wants to know how the material well-being of the average person has changed over time
in a given country, one should look at the a. level of real GDP.
b. growth rate of nominal GDP. lOMoAR cPSD| 58504431 c. growth rate of real GDP.
d. growth rate of real GDP per person.
6. Which of the following is correct?
a. Countries with the highest growth rates over the last 100 years are the ones that had the
highest level of real GDP 100 years ago.
b. Most countries have had little fluctuation around their average growth rates during the past 100 years.
c. The ranking of countries by income changes substantially over time.
d. Over the last 100 years, Japan had the highest real GDP growth rate, and now has the highest real GDP per person.
7. Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was
2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million.
What was the growth rate of real GDP per person during the year? a. 12 percent b. 10 percent c. 4 percent d. 2 percent
8. In 2009, the imaginary nation of Florastan had a population of 8,300 and real GDP of 190,900.
Florastan had 5% growth in real GDP per person. In 2010 it had a population of 8,400. What was
real GDP in Florastan in 2010? a. 200,445 b. 202,860 c. 198,059
d. None of the above is correct.
9. In 2009, the imaginary nation of Platland had a population of 10,000 and real GDP of
42,000,000. During the year its real GDP grew by about 1.98%. Which of the following sets of
growth rates is consistent with this growth in real GDP?
a. 1% population growth and 3% real GDP growth
b. 3% population growth and 1% real GDP growth
c. 3% population growth and 6% real GDP growth
d. 6% population growth and 3% real GDP growth
10. Which of the following is not correct? lOMoAR cPSD| 58504431
a. Countries that have had higher output growth per person have typically done so without higher productivity growth.
b. A country's standard of living and its productivity are closely related.
c. Productivity refers to output produced per hour of work.
d. Increases in productivity can be used to increase output or leisure.
11. Dilbert’s Incorporated produced 5,000,000 units of accounting software in 2008. At the start of
2009 the pointy-haired boss reduced total annual hours of employment from 10,000 to 8,000 and
production was 4,800,000. These numbers indicate that productivity a. fell by 4%. b. fell by 20%. c. rose by 12%. d. rose by 20%.
12. Last year the imaginary country of Bahkan had a population of 10,000, 6,000 people worked 8
hours a day and produced a real GDP of $30,000,000. The imaginary country of San Andreo had
a population of 15,000, 8,000 people worked 7 hours a day and produced a real GDP of
$33,000,000. Which of the following is correct?
a. Bahkan had the higher productivity and the higher real GDP per person.
b. San Andreo had the higher productivity and the higher real GDP per person.
c. Bahkan had the higher productivity while San Andreo had the higher real GDP per person.
d. San Andreo had the higher productivity while Bahkan had the higher real GDP per person.
13. Country A has a population of 1,000, of whom 700 worked an average of 8 hours a day and had
a productivity of 2.5. Country B has a population of 800, of whom 560 worked 8 hours a day and
had productivity of 3.0. The country with the higher real GDP was
a. country A, and the country with higher real GDP per person was country A.
b. country A, and the country with higher real GDP per person was country B.
c. country B, and the country with higher real GDP per person was country A.
d. country B, and the country with higher real GDP per person was country B.
14. Last year a country had 800 workers who worked an average of 8 hours and produced 12,800
units. This year the same country had 1000 workers who worked an average of 8 hours and
produced 14,000 units. This country’s productivity was
a. higher this year than last year. A possible source of this change in productivity is a change
in the size of the capital stock.
b. higher this year than last year. A change in the size of the capital stock does not affect productivity. lOMoAR cPSD| 58504431
c. lower this year than last year. A possible source of this change in productivity is a change
in the size of the capital stock.
d. lower this year than last year. A change in the size of the capital stock does not affect productivity.
15. Which of the following items plays a role in determining productivity? a. physical capital b. natural resources c. technological knowledge
d. All of the above are correct.
16. The equipment and structures available to produce goods and services are called a. physical capital. b. human capital. c. the production function. d. technology.
17. Which of the following are human capital and physical capital, respectively?
a. for a brick layer: her bricks and her tools
b. for a gas station: the pumps and the cash register
c. for a restaurant: the chefs’ knowledge about preparing food and the equipment in the kitchen
d. for a medical office: the building and the doctors’ knowledge of medicine
18. In a particular production process, if the quantities of all inputs used double, then the quantity of
output doubles as well. This means that
a. the production process cannot be enhanced by technological advances.
b. no mathematical representation of the relevant production function can be formulated.
c. the relevant production function has the limits-to-growth property.
d. the relevant production function has the constant-returns-to-scale property.
19. In a particular production process, if the quantities of all inputs used are increased by 60 percent,
then the quantity of output increases by 60 percent as well. This means that
a. the production process cannot be enhanced by technological advances.
b. no mathematical representation of the relevant production function can be formulated.
c. the relevant production function has the limits-to-growth property. lOMoAR cPSD| 58504431
d. the relevant production function has the constant-returns-to-scale property.
20. Suppose that there are diminishing returns to capital. Suppose also that two countries are the
same except one has less capital and so less real GDP per person. Suppose that both increase
their saving rate from 3 percent to 4 percent. In the long run
a. both countries will have permanently higher growth rates of real GDP per person, and the
growth rate will be higher in the country with more capital.
b. both countries will have permanently higher growth rates of real GDP per person, and the
growth rate will be higher in the country with less capital.
c. both countries will have higher levels of real GDP per person, and the temporary increase
in growth in the level of real GDP per person will have been greater in the country with more capital.
d. both countries will have higher levels of real GDP per person, and the temporary increase
in growth in the level of real GDP per person will have been greater in the country with less capital. Chapter 26: Multiple choice QUIZ 4 Description Dear Students,
This QUIZ is your practical exercise. Please practice this Quiz before finishing the
class. Note that there is no scoring for this QUIZ. Regards, Tam
Instructions Read the following questions carefully and choose the answer that best describes.
There are 20 questions in total and each question has 5 points (100 points in total).
The given time for this quiz is 30 minutes. lOMoAR cPSD| 58504431
1. When opening a print shop you need to buy printers, computers, furniture, and similar items.
Economists call these expenditures a. capital investment.
b. investment in human capital.
c. business consumption expenditures. d. personal saving.
2. Most entrepreneurs do not have enough money of their own to start their businesses. When they
acquire the necessary funds from someone else,
a. their consumption expenditures are being financed by someone else’s saving.
b. their consumption expenditures are being financed by someone else’s investment.
c. their investments are being financed by someone else’s saving.
d. their saving is being financed by someone else’s investment.
3. Two of the economy’s most important financial intermediaries are
a. suppliers of funds and demanders of funds. b. banks and the bond market.
c. the stock market and the bond market. d. banks and mutual funds.
4. In which of the following cases would it necessarily be true that national saving and private
saving are equal for a closed economy?
a. Private saving is equal to government expenditures.
b. Public saving is equal to investment.
c. After paying their taxes and paying for their consumption, households have nothing left.
d. The government’s tax revenue is equal to its expenditures.
5. Net exports must equal zero for any economy a. that is closed.
b. for which Y = C + I + G.
c. for which S = Y - C - G.
d. All of the above are correct.
6. The identity that shows that total income and total expenditure are equal is a. GDP = Y. lOMoAR cPSD| 58504431
b. Y = DI + T + NX.
c. GDP = GNP - NX.
d. Y = C + I + G + NX.
7. Y = C + I + G + NX is an identity because
a. each symbol identifies a macroeconomic variable.
b. the right-hand and left-hand sides are equal when an equilibrium is reached.
c. the equality holds due to the way the variables are defined.
d. None of the above is correct.
8. Which of the following equations represents GDP for an open economy?
a. Y = C + I + G + NX
b. NX = I - G
c. I = Y - C + G + NX
d. Y = C + I + G
9. In a small closed economy investment is $50 billion and private saving is $55 billion. What are
public saving and national saving? a. $60 billion and $5 billion
b. $50 billion and -$5 billion c. $5 billion and $60 billion
d. -$5 billion and $50 billion
10. According to the definitions of national saving and private saving, if Y, C, and G remained the
same, an increase in taxes would
a. raise both national saving and private saving.
b. raise national saving and reduce private saving.
c. leave national saving and private saving unchanged.
d. leave national saving unchanged and reduce private saving.
11. Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 2,500 consumption
equals 7,500 and government purchases equal 2,000. What are private saving, public saving, and national saving?
a. 1,500, 1,000, and 500, respectively
b. 1,000, 500, and 1,500, respectively
c. 500, 1,500, and 1,000, respectively lOMoAR cPSD| 58504431
d. None of the above is correct.
12. Suppose the economy is closed and consumption is 6,500, taxes are 1,500, and government
purchases are 2,000. If national saving amounts to 1,000, then what is GDP? a. 9,500 b. 10,000 c. 10,500 d. 11,000
13.The source of the supply of loanable funds
a. is saving and the source of demand for loanable funds is investment.
b. is investment and the source of demand for loanable funds is saving.
c. and the demand for loanable funds is saving.
d. and the demand for loanable funds is investment.
14. Assuming the market for loanable funds is in equilibrium, use the following numbers to
determine the quantity of loanable funds supplied. GDP $8.7 trillion Consumption Spending $3.2 trillion Taxes Net of Transfers $2.7 trillion Government Purchases $3.0 trillion a. $2.2 trillion b. $2.5 trillion c. $3.9 trillion d. $5.2 trillion
15. Suppose the market for loanable funds is in equilibrium. Given the numbers below, determine
the quantity of loanable funds demanded. GDP $200 billion Consumption $130 billion Taxes Net of Transfers $30 billion Government Spending $40 billion a. $30 billion b. $25 billion lOMoAR cPSD| 58504431 c. $20 billion d. $15 billion
16. The Eye of Horus incense company has $10 million in cash which it has accumulated from
retained earnings. It was planning to use the money to build a new factory. Recently, the rate of
interest has increased. The increase in the rate of interest should
a. not influence the decision to build the factory because The Eye of Horus doesn't have to borrow any money.
b. not influence the decision to build the factory because its stockholders are expecting a new factory.
c. make it more likely that The Eye of Horus will build the factory because a higher interest
rate will make the factory more valuable.
d. make it less likely that The Eye of Horus will build the factory because the opportunity
cost of the $10 million is now higher.
17. Kathleen is considering expanding her dress shop. If interest rates rise she is
a. less likely to expand. This illustrates why the supply of loanable funds slopes downward.
b. more likely to expand. This illustrates why the supply of loanable funds slopes upward.
c. less likely to expand. This illustrates why the demand for loanable funds slopes downward.
d. more likely to expand. This illustrates why the demand for loanable funds slopes upward.
18. If the quantity of loanable funds demanded exceeds the quantity of loanable funds supplied,
a. there is a surplus and the interest rate is above the equilibrium level.
b. there is a surplus and the interest rate is below the equilibrium level.
c. there is a shortage and the interest rate is above the equilibrium level.
d. there is a shortage and the interest rate is below the equilibrium level.
19. If there is a shortage of loanable funds, then
a. the quantity demanded is greater than the quantity supplied and the interest rate will rise.
b. the quantity demanded is greater than the quantity supplied and the interest rate will fall.
c. the quantity supplied is greater than the quantity demanded and the interest rate will rise.
d. the quantity supplied is greater than the quantity demanded and the interest rate will fall.
20. Suppose that Congress were to institute an investment tax credit. What would happen in the market for loanable funds?
a. The demand for loanable funds would shift left.
b. The supply of loanable funds would shift left. lOMoAR cPSD| 58504431
c. The demand for loanable funds would shift right.
d. The supply of loanable funds would shift right.
Chapter 28: Unemployment Multiple choice QUIZ 5 Description Dear Students,
This QUIZ is your practical exercise. Please practice this Quiz before finishing the
class. Note that there is no scoring for this QUIZ. Regards, Tam
Instructions Read the following questions carefully and choose the answer that best describes.
There are 20 questions in total and each question has 5 points (100 points in total).
The given time for this quiz is 30 minutes. 1.
The Bureau of Labor Statistics is part of the U.S. Department of a. the Treasury. b. Commerce. c. Labor. d. the Interior. 2.
Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a
a. monthly survey of about 60,000 households
b. monthly survey of about 6,000 households
c. weekly survey of about 60,000 households
d. weekly survey of about 6,000 households 3.
Who of the following are included in the Bureau of Labor Statistics’ “employed” category? a. certain unpaid workers b. part-time workers c. workers on vacation
d. All of the above are correct. lOMoAR cPSD| 58504431 4.
For the Bureau of Labor Statistics to place someone in the “unemployed” category, that person must a. be available for work.
b. have tried to find employment during the previous week.
c. have previously been employed.
d. All of the above are correct. 5.
Which of the following includes everyone in the adult population that the Bureau of Labor
Statistics counts as unemployed? a. anyone who is not employed
b. anyone who is not employed, is available for work, and has looked for work in the past 4 weeks
c. anyone who is not employed, is available for work, has looked for work in the past 4
weeks, and anyone who is waiting to be recalled from a job from which they have been laid off
d. anyone who is not employed, is available for work, has looked for work in the past 4
weeks, anyone who is waiting to be recalled from a job from which they have been laid off,
and anyone who is employed part time and has searched for full time employment in the past 4 weeks 6.
Danielle did not work last week because flooding forced an evacuation of her workplace.
The Bureau of Labor Statistics counts Danielle as
a. unemployed and in the labor force.
b. unemployed and not in the labor force.
c. employed and in the labor force.
d. employed and not in the labor force. lOMoAR cPSD| 58504431 7.
Refer to Table 15-2. How many people were employed in Baltivia in 2009? Table 15-2 2009 Labor Data for Baltivia Number of adults 20,000
Number of adults who are paid employees 8,000
Number of adults who work in their own businesses 1,600
Number of adults who are unpaid workers in a family member’s business 1,000
Number of adults who were temporarily absent from their jobs because of an 400 earthquake
Number of adults who were waiting to be recalled to a job from which they had 200 been laid off
Number of adults who do not have a job, are available for work, and have tried to 1,400
find a job within the past four weeks
Number of adults who do not have a job, are available for work, but have not tried 780
to find a job within the past four weeks
Number of adults who are full-time students 3,000
Number of adults who are homemakers or retirees 3,620 a. 9,600 b. 10,600 c. 11,000 d. 11,200
8. Which of the following is a cause of the changing role of women in American society over the past several decades?
a. new technologies that have reduced the amount of time required to complete routine household tasks b. improved birth control
c. changing political and social attitudes
d. All of the above are correct.
9. Which of the following is not a cause of the decline in the U.S. men’s labor-force participation
rate over the past several decades?