Measuring a Nation's Production and Income
1)
Macroeconomics differs from microeconomics in that:
1)
_______
A)
microeconomics focuses principally on social and political issues, while macroeconomics involves the
study of a nation's monetary system.
B)
microeconomics is the study of individual markets, while macroeconomics deals with the nation's
economy as a whole.
C)
macroeconomics is the study of individual markets, while microeconomics deals with the nation's
economy as a whole.
D)
macroeconomics focuses principally on social and political issues, while microeconomics involves the
study of a nation's monetary system.
2)
Which of the following would not be considered a macroeconomic question?
2)
_______
A)
Why do some economies grow faster than do others?
B)
What factors determine the price of computers?
C)
What are the factors that determine unemployment?
D)
How does the exchange rate affect international trade?
3)
Which of the following would not be considered a macroeconomic question?
3)
_______
A)
What is the effect of the trade deficit on the economy?
103
, B)
What are the effects of the federal budget deficit on the economy?
C)
What factors influence the supply of oil?
D)
How does the Federal Reserve influence inflation rates?
4)
Macroeconomics involves the study of economics from the standpoint of:
4)
_______
A)
individual firms.
B)
the government.
C)
the aggregate economy.
D)
individual consumers.
6)
Which of the following would be a macroeconomic question?
6)
_______
A)
How have prices of specific commodities increased over time?
B)
How has output in specific markets changed over time?
C)
How have personal incomes in general increased over time?
D)
How have the incomes in a particular occupation changed over time?
7)
Which of the following would be a macroeconomic question?
7)
104
, _______
A)
What percentage of workers belongs to a union?
B)
How many computer programmers will firms demand next year?
C)
How many automobiles will be produced next year?
D)
What is the relationship between inflation and unemployment?
8)
Which of the following is a microeconomic statement?
8)
_______
A)
Unemployment was seven percent of the labor force in 1995.
B)
The price of apples decreased by five percent last year.
C)
Real domestic output in Cambodia increased ten percent from 1995 to 1996.
D)
Aggregate worker productivity increased by two percent in 1997.
9)
Which of the following statements correctly explains the difference between microeconomics and
macroeconomics?
9)
______
A)
Why specific workers in the aerospace industry are unemployed is a microeconomic question, while what
determines the total amount of unemployment in the industry is a macroeconomic question.
B)
Why there are unemployed workers in the aerospace industry is a macroeconomic question, while what
determines the total amount of unemployment in the entire economy is a microeconomic question.
C)
Why the price of corn rises is a microeconomic question, while why prices in general rise is a
macroeconomic question.
D)
Why people deposit money in banks is a microeconomic question, while why banks loan money to
105
1)
Macroeconomics differs from microeconomics in that:
1)
_______
A)
microeconomics focuses principally on social and political issues, while macroeconomics involves the
study of a nation's monetary system.
B)
microeconomics is the study of individual markets, while macroeconomics deals with the nation's
economy as a whole.
C)
macroeconomics is the study of individual markets, while microeconomics deals with the nation's
economy as a whole.
D)
macroeconomics focuses principally on social and political issues, while microeconomics involves the
study of a nation's monetary system.
2)
Which of the following would not be considered a macroeconomic question?
2)
_______
A)
Why do some economies grow faster than do others?
B)
What factors determine the price of computers?
C)
What are the factors that determine unemployment?
D)
How does the exchange rate affect international trade?
3)
Which of the following would not be considered a macroeconomic question?
3)
_______
A)
What is the effect of the trade deficit on the economy?
103
, B)
What are the effects of the federal budget deficit on the economy?
C)
What factors influence the supply of oil?
D)
How does the Federal Reserve influence inflation rates?
4)
Macroeconomics involves the study of economics from the standpoint of:
4)
_______
A)
individual firms.
B)
the government.
C)
the aggregate economy.
D)
individual consumers.
6)
Which of the following would be a macroeconomic question?
6)
_______
A)
How have prices of specific commodities increased over time?
B)
How has output in specific markets changed over time?
C)
How have personal incomes in general increased over time?
D)
How have the incomes in a particular occupation changed over time?
7)
Which of the following would be a macroeconomic question?
7)
104
, _______
A)
What percentage of workers belongs to a union?
B)
How many computer programmers will firms demand next year?
C)
How many automobiles will be produced next year?
D)
What is the relationship between inflation and unemployment?
8)
Which of the following is a microeconomic statement?
8)
_______
A)
Unemployment was seven percent of the labor force in 1995.
B)
The price of apples decreased by five percent last year.
C)
Real domestic output in Cambodia increased ten percent from 1995 to 1996.
D)
Aggregate worker productivity increased by two percent in 1997.
9)
Which of the following statements correctly explains the difference between microeconomics and
macroeconomics?
9)
______
A)
Why specific workers in the aerospace industry are unemployed is a microeconomic question, while what
determines the total amount of unemployment in the industry is a macroeconomic question.
B)
Why there are unemployed workers in the aerospace industry is a macroeconomic question, while what
determines the total amount of unemployment in the entire economy is a microeconomic question.
C)
Why the price of corn rises is a microeconomic question, while why prices in general rise is a
macroeconomic question.
D)
Why people deposit money in banks is a microeconomic question, while why banks loan money to
105
