ECON 1015 Final Exam - George Chikhladze Questions and Answers Graded A+
Macroeconomics includes the study of:
the behavior of the consumer.
individual markets.
changes in national income.
the behavior of the firm.
changes in commodity prices. - Answers changes in national income
Which of the following is a topic of macroeconomics?
the profit earned by a firm
the price of ice cream
the number of unemployed people in the economy
the income earned by a person
production in the computer industry - Answers the number of unemployed people in the
economy
Microeconomics includes the study of
,measures of the standard of living.
changes in the price of commercial real estate.
the unemployment rate.
the overall level of prices in an economy.
expansions and contractions of the economy. - Answers changes in the price of commercial
real estate.
An example of an intermediate good would be
lumber used by a consumer to build a fence in his or her yard.
an airplane purchased by the government.
pencils purchased by a restaurant to be used to take orders.
a new stove purchased by a consumer.
Social Security payments made by the government. - Answers pencils purchased by a restaurant
to be used to take orders.
You bought stock in 2010 for $100 and you sold it in 2012 for $200. You used a broker to sell
the stock for you, and he charged you $20. This transaction contributed ________ to gross
domestic product (GDP). - Answers $20
The investment spending category of gross domestic product (GDP) does NOT include
, the value of changes to business inventory.
purchases of new homes.
purchases of computer software.
purchases of stocks and bonds.
purchases of new equipment. - Answers purchases of stocks and bonds.
Which of the following is included in the government purchases category of gross domestic
product (GDP)?
payments to people in the military
Social Security payments
payments to unemployed workers
interest on the national debt
welfare payments - Answers payments to people in the military
The sale of American-grown corn to China is included in the ________ category of the United
States GDP.
import
Macroeconomics includes the study of:
the behavior of the consumer.
individual markets.
changes in national income.
the behavior of the firm.
changes in commodity prices. - Answers changes in national income
Which of the following is a topic of macroeconomics?
the profit earned by a firm
the price of ice cream
the number of unemployed people in the economy
the income earned by a person
production in the computer industry - Answers the number of unemployed people in the
economy
Microeconomics includes the study of
,measures of the standard of living.
changes in the price of commercial real estate.
the unemployment rate.
the overall level of prices in an economy.
expansions and contractions of the economy. - Answers changes in the price of commercial
real estate.
An example of an intermediate good would be
lumber used by a consumer to build a fence in his or her yard.
an airplane purchased by the government.
pencils purchased by a restaurant to be used to take orders.
a new stove purchased by a consumer.
Social Security payments made by the government. - Answers pencils purchased by a restaurant
to be used to take orders.
You bought stock in 2010 for $100 and you sold it in 2012 for $200. You used a broker to sell
the stock for you, and he charged you $20. This transaction contributed ________ to gross
domestic product (GDP). - Answers $20
The investment spending category of gross domestic product (GDP) does NOT include
, the value of changes to business inventory.
purchases of new homes.
purchases of computer software.
purchases of stocks and bonds.
purchases of new equipment. - Answers purchases of stocks and bonds.
Which of the following is included in the government purchases category of gross domestic
product (GDP)?
payments to people in the military
Social Security payments
payments to unemployed workers
interest on the national debt
welfare payments - Answers payments to people in the military
The sale of American-grown corn to China is included in the ________ category of the United
States GDP.
import
