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macroeconomics

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(economics) Quiz am macroeconomics, erstellt von David Jacobus Costa am 25/05/2014.
David Jacobus Costa
Quiz von David Jacobus Costa, aktualisiert more than 1 year ago
David Jacobus Costa
Erstellt von David Jacobus Costa vor fast 11 Jahre
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Zusammenfassung der Ressource

Frage 1

Frage
The money supply is the:
Antworten
  • total value of financial assets that can be used to purchase goods and services.
  • total value of the nation's store of gold.
  • total value of stock market holdings.
  • annual sum of gains from trade.

Frage 2

Frage
Which of the following is NOT a role played by money?
Antworten
  • It is a medium of exchange.
  • It is a store of value.
  • It is a unit of account.
  • It is a means to increase purchasing power.

Frage 3

Frage
Which of the following is NOT commodity money?
Antworten
  • cigarettes
  • a gold coin
  • a silver coin
  • a $5 bill in U.S. currency

Frage 4

Frage
The value of fiat money arises from its:
Antworten
  • usefulness as a commodity.
  • ability to be redeemed in precious metals.
  • historical reputation as a currency that maintains its value in international markets.
  • official status as a means of exchange.

Frage 5

Frage
M1 includes those assets that are:
Antworten
  • directly usable as a medium of exchange.
  • good as a store of value, but not useful as a medium of exchange.
  • not liquid enough to be included in M2.
  • near-monies.

Frage 6

Frage
Federal deposit insurance serves to:
Antworten
  • protect the dollar from inflation
  • prevent bank runs
  • preserve the value of the dollar in terms of gold
  • eliminate the need for banks to satisfy capital requirements

Frage 7

Frage
The size of the U.S. money supply is determined:
Antworten
  • by the Internal Revenue Service.
  • by the amount of gold held within U.S. borders.
  • by the willingness of other countries to supply the United States with gold.
  • jointly by the federal government and the banking system.

Frage 8

Frage
the monetary base is:
Antworten
  • the sum of currency in circulation and bank reserves.
  • equal to M1.
  • equal to M2.
  • the amount of currency held in the bank vaults.

Frage 9

Frage
Which of the following items is a component of the monetary base but is NOT part of the money supply?
Antworten
  • deposits held in checking accounts
  • currency in circulation
  • bank reserves
  • near-monies

Frage 10

Frage
The money multiplier is the ratio of:
Antworten
  • the money supply to the monetary base.
  • bank deposits to currency in circulation.
  • bank reserves to bank deposits.
  • M2 to M1.

Frage 11

Frage
Long-run economic growth depends primarily on:
Antworten
  • environmental quality.
  • productivity.
  • health care costs.
  • ethical business standards.

Frage 12

Frage
A sustained increase in per capita GDP arises from:
Antworten
  • population growth.
  • lower prices.
  • higher productivity.
  • importing more goods.

Frage 13

Frage
Which of the following is NOT a determinant of productivity?
Antworten
  • the level of technology
  • the level of wages
  • the amount of physical capital per worker
  • the amount of human capital per worker

Frage 14

Frage
When more physical capital is added to the production process but the number of workers remains constant:
Antworten
  • the amount of output per worker declines.
  • the amount of output per worker increases, but at a decreasing rate.
  • the amount of output per worker increases at an increasing rate.
  • productivity declines.

Frage 15

Frage
In order to increase its stock of physical capital, an economy must:
Antworten
  • engage in investment spending.
  • have a high level of consumption spending.
  • have a high level of government spending.
  • have a generous endowment of natural resources.

Frage 16

Frage
A healthy banking system can contribute to the growth of an economy by:
Antworten
  • providing a way for savings to be channelled into business investment.
  • redistributing income between rich and poor citizens.
  • increasing the amount of gold held by its citizens.
  • adding to the overall level of employment.

Frage 17

Frage
In a simplified economy with no government and no interaction with other countries, all investment spending must come from:
Antworten
  • taxes.
  • imports.
  • exports.
  • domestic savings.

Frage 18

Frage
The presence of a government budget surplus means that:
Antworten
  • the government has provided savings to the financial system.
  • the household sector has not provided any savings to the financial system.
  • this is a closed economy.
  • this is an open economy.

Frage 19

Frage
The two components of national savings in an economy without interactions with other countries are:
Antworten
  • private savings and the budget balance.
  • consumption spending and investment spending.
  • taxes and the budget balance.
  • private savings and taxes.

Frage 20

Frage
Which of the following occurs in an economy that interacts with other countries?
Antworten
  • Capital inflow equals private saving plus government saving.
  • Capital inflow equals desired investment spending.
  • Investment spending equals national saving plus capital inflow.
  • Investment spending equals consumption spending minus taxes.

Frage 21

Frage
Financial markets serve to match:
Antworten
  • savers with borrowers.
  • exporters with importers.
  • producers with consumers.
  • workers with employers

Frage 22

Frage
From the point of view of savers, the interest rate represents the:
Antworten
  • cost of researching different investment opportunities.
  • cost of monitoring investments to make sure they are secure.
  • reward for accepting a permanently lower standard of living.
  • reward for postponing consumption.

Frage 23

Frage
Crowding out is the:
Antworten
  • negative effects of taxation on investment decisions.
  • positive effects of taxation on investment decisions.
  • negative effect of government budget deficits on private investment.
  • positive effect of government budget deficits on private investment.

Frage 24

Frage
According to the Fisher effect:
Antworten
  • the expected real interest rate is unaffected by a change in expected future inflation.
  • the expected nominal interest rate is unaffected by a change in expected future inflation.
  • expected future inflation is unaffected by a change in the real interest rate.
  • expected future inflation is unaffected by a change in the nominal interest rate.

Frage 25

Frage
If you take out a bank loan to buy a car, the loan is a(n):
Antworten
  • liability both for you and for the bank.
  • asset both for you and for the bank.
  • liability for the bank and an asset for you.
  • asset for the bank and a liability for you.

Frage 26

Frage
By allowing for diversification, financial markets:
Antworten
  • reduce transaction costs
  • reduce risk.
  • increase liquidity.
  • create inefficiency.

Frage 27

Frage
By investing in a mutual fund, you are:
Antworten
  • owning a share of a stock portfolio
  • avoiding the risks of dealing with financial intermediaries
  • endorsing the efficient markets hypothesis
  • endorsing the random walk theory

Frage 28

Frage
When we look at movements up or down along the aggregate demand curve, we are considering a:
Antworten
  • simultaneous change in the prices of all final goods and services.
  • change in the price of one good, with all other prices held constant.
  • change in the price of one good, with real consumer wealth held constant.
  • change in the price of one good, with interest rates held constant.

Frage 29

Frage
Which of the following is NOT a component of aggregate demand?
Antworten
  • government expenditures
  • taxes
  • investment spending
  • consumption spending

Frage 30

Frage
The aggregate supply curve shows the relationship between the:
Antworten
  • level of real GDP and the level of unemployment.
  • level of nominal wages and the level of real GDP.
  • aggregate price level and the quantity of aggregate output supplied.
  • level of nominal wages and the quantity of aggregate output supplied.

Frage 31

Frage
The positive slope of short-run aggregate supply arises from the fact that...
Antworten
  • increases in the aggregate price level will increase the rate of unemployment.
  • increases in the aggregate price level will increase profit per unit.
  • increases in unemployment cause an increase in aggregate demand.
  • decreases in real output arise from supply shocks.

Frage 32

Frage
The long-run aggregate supply curve is drawn as a vertical line to reflect the fact that, in the long run, changes in:
Antworten
  • the aggregate price level do not affect the level of potential real GDP.
  • productivity do not affect the level of potential real GDP.
  • real GDP do not affect the level of employment.
  • the stock of physical capital do not affect the level of potential real GDP.

Frage 33

Frage
A shift in short-run aggregate supply occurs when there is a change in:
Antworten
  • the aggregate price level
  • real output.
  • profit per unit.
  • imports.

Frage 34

Frage
Stagflation is:
Antworten
  • a combination of inflation and rising unemployment.
  • a combination of high interest rates and high levels of investment spending.
  • a combination of a government budget deficit and a trade deficit.
  • the pattern of fluctuations in economic activity over the course of the business cycle.

Frage 35

Frage
If the economy experiences a negative demand shock, policy makers should:
Antworten
  • not take any action.
  • try to shift the aggregate supply curve to the left.
  • try to shift the aggregate demand curve to the right.
  • try to shift the aggregate supply curve to the right.

Frage 36

Frage
Which of the following is the BEST course of action for policy makers if the economy experiences a negative supply shock?
Antworten
  • Policy makers should try to shift the aggregate supply curve to the left.
  • Policy makers should try to shift the aggregate demand curve to the left.
  • Policy makers should try to shift the aggregate demand curve to the right.
  • There is no clear "best" policy.

Frage 37

Frage
Disposable income is the:
Antworten
  • amount of household income collected as tax revenue.
  • total income households have available to spend.
  • portion of household income saved.
  • portion of household income invested.

Frage 38

Frage
A recessionary gap occurs when:
Antworten
  • aggregate output falls below potential output.
  • potential output falls below aggregate output.
  • transfer payments undermine incentives to work.
  • taxes on corporate profits undermine incentives to invest.

Frage 39

Frage
To address a recessionary gap, the appropriate fiscal policy would be an increase in:
Antworten
  • personal taxes.
  • corporate taxes.
  • government spending.
  • interest rates.

Frage 40

Frage
The effect of expansionary fiscal policy is to shift aggregate:
Antworten
  • supply to the left.
  • supply to the right.
  • demand to the left.
  • demand to the right.

Frage 41

Frage
Which of the following would shift aggregate demand to the left?
Antworten
  • an increase in government transfer payments that affects disposable income
  • a decrease in taxes that affects disposable income
  • an increase in taxes that affects disposable income
  • an increase in private investment spending, funded by tax cuts

Frage 42

Frage
The government budget deficit is MOST likely to rise when the:
Antworten
  • interest rate falls.
  • interest rate rises.
  • unemployment rate rises.
  • economy recovers from a recession.

Frage 43

Frage
Economists using a Keynesian model will suggest that:
Antworten
  • supply shocks do not affect real output
  • demand shocks do not affect real output
  • shifts in the aggregate demand curve will affect output and employment as well as aggregate prices
  • shifts in the aggregate demand curve will affect aggregate prices but will leave output and employment unchanged

Frage 44

Frage
New classical macroeconomics is built on the two concepts of:
Antworten
  • an upward-sloping aggregate supply curve and a vertical aggregate demand curve.
  • the liquidity trap and the political business cycle.
  • discretionary monetary policy and an emphasis on the short run.
  • rational expectations and real business cycle theory.

Frage 45

Frage
Milton Friedman argued that:
Antworten
  • a discretionary monetary policy should be used to offset the fluctuations of the business cycle.
  • the effectiveness of expansionary fiscal policy is often limited by the effects of crowding out.
  • a central bank following a monetary policy rule would destabilize the economy.
  • the velocity of money is unstable.

Frage 46

Frage
The Friedman-Phelps (natural rate) hypothesis predicted that:
Antworten
  • the apparent tradeoff between inflation and unemployment would not survive once expectations of high inflation were built into public perceptions.
  • effective policy action by the Federal Reserve could keep unemployment below its natural rate.
  • effective policy action by Congress could keep unemployment below its natural rate.
  • the velocity of money would become volatile when the economy reached a situation of full employment.

Frage 47

Frage
The balance of payments on financial account:
Antworten
  • reflects transfers of factor income.
  • is the difference between exports of goods and exports of services.
  • is the total value of exports.
  • is the difference between the country's sales of assets to foreigners and its purchases of assets from foreigners.

Frage 48

Frage
Which of the following economic conditions would be MOST likely to attract a capital inflow?
Antworten
  • a relatively low interest rate
  • a relatively high rate of domestic savings
  • a relatively high rate of economic growth
  • a merchandise trade surplus

Frage 49

Frage
Which of the following would lead to an appreciation of the Japanese yen against the euro
Antworten
  • an increase in demand for euros by Japanese investors and consumers
  • an increase in demand for European-made goods by Japanese consumers
  • an increase in the supply of Japanese yen on the foreign exchange market
  • an increase in demand for Japanese-made goods by European consumers

Frage 50

Frage
Which actor or institution called the growth in East Asia a miracle
Antworten
  • Paul Krugman
  • Adam Smith
  • The IMF
  • The World Bank
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