Bài tập trắc nghiệm Kinh tế Vĩ mô

MID TERM 2021 Bài tập trắc nghiệm Kinh tế Vĩ mô If the money multiplier is 3 and the Fed wants to increase the money supply by 900,000, it could Who of the following is counted as “unemployed” by the Bureau of Labor Statistics?

MID-TERM 2021 Q : If the money multiplier is and the Fed wants to increase the money supply by $900,000, it could A buy $300,000 worth of bonds B sell $300,000 worth of bonds C buy $225,000 worth of bonds D sell $225,000 worth of bonds Q : Who of the following is counted as “unemployed” by the Bureau of Labor Statistics? A someone working without pay for a family member’s business B someone who is absent from their job due to illness C someone on temporary layoff D All of the above are correct Q : Fiscal policy affects the money market through its effect on A income and money supply B money supply and money demand C income and money demand D money supply and income Q : If the Federal Reserve increases the interest rate on bank deposits at the Fed, banks will want to hold A fewer reserves, so the reserve ratio will rise B more reserves, so the reserve ratio will fall C more reserves, so the reserve ratio will rise D fewer reserves, so the reserve ratio will fall Q : When the commercial banks buys government bonds from Fed, A the money supply decreases B the money supply increases C the money supply increases D the money supply decreases Q : Which of the following is included in the consumption component of GDP? A household purchases of appliances B household purchases of food C All of the above are included in the consumption component of GDP D household purchases of medical care Q : The value of money falls as the price level A falls, because the number of dollars needed to buy a representative basket of goods rises B falls, because the number of dollars needed to buy a representative basket of goods falls C rises, because the number of dollars needed to buy a representative basket of goods rises D rises, because the number of dollars needed to buy a representative basket of goods falls Q : A B C D Q : When income increases, the money demand curve shifts to the , which the interest rate with a fixed money supply A left; decreases B right; increases C left; increases D right; decreases Q 10 : Maury did not work last week because fire forced an evacuation of his workplace The Bureau of Labor Statistics counts Maury 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 Q 11 : Banks are able to create money only when A interest rates are above 2% B the Fed sells U.S government bonds C the reserve ratio is 100% D only a fraction of deposits are held in reserve Q 12 : When the money market is drawn with the value of money on the vertical axis, if the Fed sells bonds then A the money supply and the price level increase B the money supply increases and the price level decreases C the money supply increases and the price level increases D the money supply and the price level decrease Q 13 : A B C D Q 14 : The country of Growpaw does not trade with any other country Its GDP is $20 billion Its government purchases $3 billion worth of goods and services each year, collects $4 billion in taxes, and provides $2 billion in transfer payments to households Private saving in Growpaw is $4 billion What is investment? A $5 billion B $4 billion C $3 billion D $11 billion Q 15 : Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of percent How many people were employed? A 15 million B 0.9 million C 14.1 million D 23.5 million Q 16 : If total spending rises from one year to the next, then which of the following could not be true? A the economy is producing a smaller output of goods and services, and they are selling at higher prices B the economy is producing a smaller output of goods and services, and they are selling at lower prices C the economy is producing a larger output of goods and services, and they are selling at higher prices D the economy is producing a larger output of goods and services, and they are selling at lower prices Q 17 : Who is not included in the labor force by the Bureau of Labor Statistics? A Anita, who is on temporary layoff B Lauren, who has retired and is not looking for work C Raymond, who does not have a job but has applied for several in the last week D None of the above is correct Q 18 : If nominal GDP is $12 trillion and real GDP is $10 trillion, then the GDP deflator is A 83.33, and this indicates that the price level has decreased by 16.67 percent since the base year B 83.33, and this indicates that the price level has increased by 83.33 percent since the base year C 120, and this indicates that the price level has increased by 120 percent since the base year D 120, and this indicates that the price level has increased by 20 percent since the base year Q 19 : For an economy that engages in international trade, GDP is divided into four components Which of the following items is not one of those components? A consumption B government purchases C national saving D net exports Q 20 : According to the definitions of private and public saving, if Y, C, and G remained the same, an increase in taxes would A raise both private and public saving B raise private saving and lower public saving C lower private saving and raise public saving D lower private and public saving Q 21 : Economists use the term “money” to refer to A all wealth B all assets, including real assets and financial assets C all financial assets, but not real assets D those types of wealth that are regularly accepted by sellers in exchange for goods and services Q 22 : A B C D Q 23 : If an economy’s GDP falls, then it must be the case that the economy’s A income and saving both fall B income falls and saving rises C income and expenditure both fall D income falls and expenditure rises Q 24 : A bank loans Kellie's Print Shop $350,000 to remodel a building near campus to use as a new store On their respective balance sheets, this loan is A an asset for the bank and a liability for Kellie's Print Shop The loan increases the money supply B an asset for the bank and a liability for Kellie's Print Shop The loan does not increase the money supply C a liability for the bank and an asset for Kellie's Print Shop The loan does not increase the money supply D a liability for the bank and an asset for Kellie's Print Shop The loan increases the money supply Q 25 : Rocket Energy Drink Company buys sugar to produce energy drinks At the end of a quarter both its inventory of sugar and its inventory of energy drinks has increased Investment for the quarter will include A both the increased inventory of sugar and the increased inventory of energy drinks B the increased inventory of sugar, but not the increased inventory of energy drinks C the increased inventory of energy drinks, but not the increased inventory of sugar D neither the increased inventory of sugar nor the increased inventory of energy drinks Q 26 : If Fiscal Policy is trying to promote stability and economic growth through tax cuts, what type of policy is Fiscal policy using? A Tight Monetary Policy B Easy Monetary Policy C Expansionary Fiscal Policy D Contractionary Fiscal Policy Q 27 : If the Federal Reserve increases the interest rate on bank deposits at the Fed, banks will want to hold A fewer reserves, so the money multiplier will fall B fewer reserves, so the money multiplier will rise C more reserves, so the money multiplier will rise D more reserves, so the money multiplier will fall Q 28 : Who of the following would necessarily be included in the BLS “unemployed” category? A Huey, who did not work during the previous four weeks B Dewey, who tried to find new employment during the previous four weeks C Louie, who was an unpaid worker during the previous four weeks D None of the above is correct Q 29 : What would happen in the market for loanable funds if the government were to decrease the tax rate on interest income? A There would be a reduction in the amount of loanable funds borrowed B There would be no change in the amount of loanable funds borrowed C The change in loanable funds is uncertain D There would be an increase in the amount of loanable funds borrowed Q 30 : Sam, an American citizen, prepares meals for his family at home Ellen, a Canadian citizen, commutes to the U.S to help prepare meals at a restaurant in Idaho Whose value of services preparing meals is included in U.S GDP? A Sam’s and Ellen’s B Sam’s but not Ellen’s C Ellen’s but not Sam’s D Neither Sam’s nor Ellen’s Q 31 : If current output of an economy is Y1 = 1000 and potential output Yp = 800 What should Government do? A Expansionary Fiscal Policy B Easy Monetary Policy C Contractionary Fiscal Policy D All of them Q 32 : On a bank's Taccount, which are part of the bank’s assets? A both deposits made by its customers and reserves B deposits made by its customers but not reserves C reserves but not deposits made by its customers D neither deposits made by its customers nor reserves Q 33 : Given an MPC of 0.80, in two-sector economy, when investment increases by $50 million, equilibrium GDP would A increase by $50 million B increase by $400 million C To answer the question more information on income is needed D increase by $250 million Q 34 : A B C D Q 35 : A closed economy A does not trade with other economies B is centrally-planned C does not allow financial intermediation D All of the above are correct Q 36 : If the economy is in an inflationary period, what action would Fiscal Policy most likely take? A Increase spending B Decrease taxes C Decrease the discount rate D Increase taxes Q 37 : If in some year nominal GDP was $18 billion and the GDP deflator was 120, what was real GDP? A $6.7 billion B $15 billion C $21.6 billion D $38 billion B C D Q 38 : A Q 39 : Which of the following items is included in GDP? A the sale of stocks and bonds B the sale of used goods C the sale of services such as those performed by a doctor D All of the above are included in GDP Q 40 : Year 2008 2009 2010 Price of a Baseball $3.25 $3.75 $4.50 Price of a Baseball Bat $75 $82 $96 The table shows the prices of baseballs and baseball bats for three years Assume the typical consumer’s basket consists of baseballs and baseball bats If 2009 is the base year, then the CPI was A 83.00 in 2008, 100.00 in 2009, and 132.50 in 2010 B 90.88 in 2008, 100.00 in 2009, and 117.43 in 2010 C 89.97 in 2008, 100.00 in 2009, and 117.43 in 2010 D 169.50 in 2008, 186.50 in 2009, and 219.00 in 2010 Q 41 : The crowding out effect refers to A government investment crowding out private investment B the wealth effectʹs impact on the aggregate demand curve C how a cyclical budget deficit changes over the business cycle D the presence of the Ricardo-Barro effect Q 42 : In 2009, based on concepts similar to those used to estimate U.S employment figures, the Swedish adult noninstitutionalized population was 7.568 million, the labor force was 4.888 million, and the number of people employed was 4.486 million According to these numbers, the Swedish labor-force participation rate and unemployment rate were about A 64.6% and 8.2% B 64.6% and 5.3% C 59.3% and 8.2% D 59.3% and 5.3% B C D Q 43 : A Q 44 : Suppose the banking system currently has $300 billion in reserves, the reserve requirement is percent, and excess reserves are $30 billion What is the level of loans? A $5,400 billion B $6,000 billion C $270 billion D $5,100 billion Q 45 : Suppose OPEC succeeds in raising world oil prices by 300 percent This price increase causes inventors to look at alternative sources of fuel for internal-combustion engines A hydrogen-powered engine is developed which is cheaper to operate than gasoline engines Which problems in the construction of the CPI does this situation represent? A substitution bias and introduction of new goods B substitution bias and unmeasured quality change C introduction of new goods and unmeasured quality change D income bias and substitution bias Q 46 : In the calculation of the CPI, books are given greater weight than magazines if A it costs more to produce books than it costs to produce magazines B the price of books is higher than the price of magazines C books are more readily available than magazines to the typical consumer D consumers buy more books than magazines Q 47 : If there is a surplus of loanable funds, then A the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is above equilibrium B the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is above equilibrium C the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is below equilibrium D the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is below equilibrium Q 48 : Assume that in the closed economy The investment is 15,000, the government spending is 10,000 The tax is 40,000 The function of Consumption is C= 75,000 +0.5Yd What is Saving? A S = 75,000 +0.5Yd B S= - 75,000 + 0.5 Yd C S= 75,000 - 0.5Yd D S= 25,000 – 0.5 Yd Q 49 : Year 2010 2011 2012 Adult population 2,000 3,000 3,200 Number of employed 1,400 1,300 1,600 Number of unemployed 200 600 200 Labor Data for Aridia The labor force of Aridia in 2010 was A 1,400 B 1,600 C 1,800 D 2,000 B C D Q 50 : A Q 51 : Micah buys a used car for $10,000 and spends $200 on a new radio that is made in the U.S The end result of these two transactions is A U.S consumption purchases increase by $200 and U.S GDP increases by $200 B U.S consumption purchases increase by $10,000 and U.S GDP increases by $10,200 C U.S consumption purchases increase by $200 and U.S GDP increases by $10,000 D U.S consumption purchases increase by $10,200 and U.S GDP increases by $10,200 Q 52 : The statistical discrepancy that regularly arises in national income accounting refers to the slight difference between A the income and expenditure approaches to the calculation of GDP B estimates of GDP and actual GDP C the quarterly and annual approaches to the calculation of GDP D personal income and personal disposable income Q 53 : A budget surplus occurs when government A expenditures exceeds tax revenues B tax revenues exceeds expenditures C tax revenues equals expenditures D tax revenues equal social security expenditures Q 54 : For a closed economy, GDP is $11 trillion, consumption is $7 trillion, taxes are $2.5 trillion and the government runs a surplus of $1 trillion What are private saving and national saving? A $1.5 trillion and $2.5 trillion, respectively B $2.5 trillion and $1.5 trillion, respectively C $2.5 trillion and $2.5 trillion, respectively D $1.5 trillion and $1.5 trillion, respectively Q 55 : Which list ranks assets from most to least liquid? A bonds, money, cars, houses B money, cars, houses, bonds C money, bonds, cars, houses D bonds, cars, money, houses Q 56 : The CPI was 220 in 2012 and 231 in 2013 Phil borrowed money in 2012 and repaid the loan in 2013 If the nominal interest rate on the loan was 10 percent, then the real interest rate was A 3.2 percent B percent C -1 percent D -5 percent Q 57 : Given the following information, what are the values of M1 and M2? Small time deposits $600 billion Demand deposits and other checkable deposits $400 billion Savings deposits $800 billion Money market mutual funds $700 billion Traveler's checks $30 billion Large time deposits $400 billion Currency $250 billion Miscellaneous categories in M2 $20 billion A M1 = $680 billion, M2 = $2,800 billion B M1 = $400 billion, M2 = $3,080 billion C M1 = $650 billion, M2 = $2,830 billion D M1 = $680 billion, M2 = $3,200 billion Q 58 : A B C D B C D Q 59 : A Q 60 : Which of the following statements is correct? A In order to calculate the inflation rate for the year 2011, we need to know the values of the consumer price index for the years 2009, 2010, and 2011 B If the prices of all goods and services changed proportionately over time, then the consumer price index would reflect no substitution bias C Despite its name, the “consumer price index” really measures the overall cost of the goods and services bought by consumers, business firms, and units of government D Changes in the consumer price index are often thought to be useful in predicting changes in the producer price index - END - 10