Macroeconomics

Question 1

Economics is the study of:

how to invest in the stock market.

how society uses limited resources.

the role of money in markets.

how government officials decide which goods and services are produced.

Question 2

The Law of Demand can be explained as:

a lot of people wanting the same thing.

the higher the price, the smaller the quantity demanded, ceteris paribus.

people are willing to make limited sacrifices to acquire products.

legal reasons people make purchases in the marketplace.

Question 3

The Law of Supply states that:

producers should only produce what they can sell.

producers should only sell the items when the price is right.

there is a positive relationship between price and quantity supplied, ceteris paribus.

producers are legally required to make necessary items available in the marketplace.

Question 4

Gross domestic product calculations count only final goods and services because:

these are the only goods and services that are purchased in an economy.

counting all goods and services would lead to double-counting of many activities.

it is difficult to measure the prices of intermediate goods produced.

one cannot calculate the quantities of intermediate goods produced.

Question 5

Firms consider the __________wage when considering whether to hire additional units of labor.

nominal

real

minimum

normal

Question 6

A comparison of the average growth rates across time for developed nations indicates that:

nations with lower levels of income grow more slowly than those with higher levels of income.

nations with lower levels of income will never be as rich as nations with high levels of income.

nations with high levels of income experience a continuously increasing growth rate.

nations with lower levels of income grow more quickly than those with higher levels of income.

Question 7

An increase in the income tax rate __ the value of the tax multiplier.

has no effect on

may increase or decrease

increases

decreases

Question 8

What would be a way for the Federal Reserve to slow down the economy when it is growing too quickly or is inflationary?

Print more money

Buy back government bonds on the open market

Sell more government bonds

Encourage the stock market

Question 9

How does an increase in the money wage rate affect aggregate supply?

It decreases aggregate supply.

It increases aggregate supply.

It barely has any effect.

Since it applies to a firm’s costs, it does not affect aggregate supply.

Question 10

A decrease in the money supply causes:

a long-run decrease in the level of output.

both a long-run and short-run decrease in the level of output.

a short-run decrease in the level of output.

no changes in the level of output.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

Money-back Guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism Guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision Policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy Policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation Guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: