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1. The federal reserve generally uses ___________________ to implement monetary policy.
2. Gdp equals aggregate income and also equals aggregate expenditure because _______.
3. With _____________ demand the price changes, but the amount purchased remains the same.
4. When firms agree to act as a monopoly and set prices they are called __________.
5. When the fed buys bonds, its demand _____ the price of bonds, _____ nominal interest rates.
6. When the demand of a product increases ______
7. Refer to the table. exports might be ____ and imports ____.
8. The quantity of real gdp supplied depends on all of the following except the _______.
9. When the interest rate is high, planned investment is ________ so output is ________.
10. When an economy is expanding, unemployment tends to _____ and overall prices tend to _____.
11. Use the following data to answer the question: Y=$8,000 C = $6,200 I= $1,500 G = $1,500 NX = -$500 the unplanned change in inventories is ________ and real gdp will ________.
12. The apc is the amount of _____________ divided by the amount of income at a specific point.
13. Nominal gdp differs from real gdp because _____.
14. If the number of people in the labor force ________, then ________.
15. If the economy is currently in a recessionary gap, real gdp will be ________ potential output.
16. Gross domestic product and gross investment are measured _____.
17. Government expenditure ________ change potential gdp and taxes ________ change potential gdp.
18. Expansionary fiscal policy ________ the price level and ________ equilibrium real gdp.
19. Everything else held constant, when the price of a product increases _______
20. Domestic product is _______. national product is _______.
21. Decreasing government spending ________ the price level and ________ equilibrium real gdp.
22. "decreases in g will decrease the economy''s gdp by causing a(n) ________ in the ad.
23. At macroeconomic equilibrium, total ________ equals total ________.
24. An increase in income taxes ________ employment and ________ potential gdp.
25. A cut in taxes ________, therefore shifting the aggregate demand curve to the ________.
26. A change in the price level produces a ________ the aggregate demand curve. i. shift in ii. change in the slope of iii. movement along
27. When real gdp increases, the change in consumption expenditure equals _______.
28. A competitive market is a market that has _____, so _____ can influence the price.
29. Over time, potential gdp ________, which is shown by the ________ curve shifting to the right.
30. U.s. potential gdp is the value of the goods and services produced in the united states _______.
31. Supply-side economics is based on the theory that if taxes are reduced, _____.
32. Every day, we make many choices. we can't avoid having to make choices because _______.
33. Because of monopoly, consumers experience ________ than with perfect competition.
34. Management by ________ is the practice that directs executive attention to large budget variances.
35. Exchange rates, interest rates, and inflation are all considered part of the _________ environment.
36. When unskilled teens earn less than college graduates, society answers the ________ question.
37. When the economy goes into a recession, real gdp ________, and unemployment ________.
38. The vertical intercept of the consumption function equals ______ and the slope equals _____.
39. The 45-degree line in the keynesian model represents a set of points where _____ equals _____.
40. Physical capital is _______. financial capital is _______.
41. If mpc is 0.8, then the multiplier is _____.
42. Economists include the word final in the definition of gdp because we ____________.
43. A downward-moving gdp indicates that ________.
44. A rise in the price level produces a ________ the potential gdp line.
45. A rise in mpc makes the total expenditures (te) curve __________ and __________ the multiplier.
46. Improvements in _____ technology have helped make globalization possible.
47. An increase in ________ would lead to an increase in long-run economic growth.
48. Problem solving is to ____ as problem finding is to ____.
49. Bank deposits ______ and the quantity of money ______.
50. As interest rates rise, _____.
51. _____ is the increase in efficiency gained by producing more output without using more inputs.
52. All other things being equal, when the demand for money decreases _____
53. A nations nominal gross domestic product (gdp) _____.
54. Compared to personal computers, cell phones _____.
55. A currency drain ______ bank deposits and _______ bank reserves.
56. The fed's policy tools include all the following except _______.
57. According to classical growth theory, when real gdp per person ______, the population grows.
58. In the circular flow model, governments _______.
59. The aggregate demand curve shows the _____.
60. Refer to figure 2-1. ________ is (are) inefficient in that not all resources are being used.
61. When the economy is at full employment, _____ is zero.
62. The two main responsibilities of the federal reserve system are to ______ and to ______.
63. To create a macro, you can enter a series of commands in the _____ programming language.
64. Reserves consist of the currency in the _____ plus the balance on its _____ account at _____.
65. To _____ the money supply, the federal reserve could _____.
66. The rate of interest banks charge on short-term loans to their best customers is the _____.
67. The purpose of expansionary monetary policy is to increase _____.
68. The federal funds rate is the _____ rate on _____ loans.
69. The demand curve for federal funds is _____.
70. An open market purchase ______ the monetary base. an open market sale ______ the monetary base.
71. An increase in the money supply, all else held constant, usually _____.
72. A sale of treasury bills by the federal reserve _____ interest rates and _____ the money supply.
73. Both ________ and ________ are federal reserve assets
74. Unexpectedly high inflation ______ borrowers and ______ lenders.
75. When the labor market is in equilibrium, real gdp ________ potential gdp.
76. Increasing opportunity cost is represented by a ________ production possibilities frontier.
77. An increase in gdp per capita most likely means that _____.
78. When the price level decreases, _____.
79. When investment increases, the ________ in aggregate demand ________ the change in investment.
80. The real wage rate definitely falls if the money wage rate ________ and the price level ________.
81. The labels for the axes of an aggregate supply curve should be _____.
82. Tax cuts on business income ________ aggregate demand.
83. M1 is comprised of currency held outside banks + traveler's checks + __________.
84. If the gdp deflator is less than 100, then for that year nominal gdp ________ real gdp.
85. If prices fall, then real wealth __________ and the quantity of aggregate demand __________.
86. Aggregate demand ________ and shifts the ad curve ________ when ________.
87. A tax cut ________ aggregate demand and ________.
88. A recessionary gap occurs when ________ so that real gdp is ________ potential gdp.
89. A recessionary gap exists if (actual) real gdp is __________ natural real gdp.
90. A nation’s nominal gross domestic product (gdp) _____.
91. A higher required reserve ratio _________ the value of the simple deposit multiplier.
92. A decrease in government purchases shifts the ________ curve to the ________.
93. A change in the price level produces a ________ the aggregate demand curve.
94. A change in _____ would cause a shift in the short-run aggregate supply curve.
95. A ______ increase in autonomous expenditure increases equilibrium expenditure by $60 billion.
96. The unplanned change in inventories is ________ and real gdp will ________.
97. An expansionary fiscal policy either _____ government spending or _____ taxes.
98. When the federal reserve _____ the money supply, it also _____ interest rates.
99. The supply-side effects of an income tax cut ________ potential gdp and ________ aggregate supply.
100. Gdp measured using base year prices is called _____.
Management Accounting
Negotiation Skills
Human Resource Management
Project Management
Management Skills
Inventory Management
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