02 Jun Question Multiple choice Quiz
Question
Multiple choice Quiz
1 Which of the following is a central issue in macroeconomics?
A) the deregulation of the banking industry
B) inflation of prescription drug prices
C) the effect of excise taxes on consumers’ buying patterns
D) none of the above
2 Which of the following is NOT an issue in macroeconomics?
A) issues relating to the balance of payment
B) the determination of prices in the agricultural sector
C) the relationship between inflation and unemployment
D) the possible effect of budget deficit increases on the level of investment
3 In studying growth theory
A) we focus on the very long run
B) we ignore recessions and booms
C) we assume that all inputs are fully employed
D) all of the above
4 In the very long run
A) the position of the AD-curve depends on the productive capacity of the economy
B) the position of the AS-curve depends on the degree of consumer confidence
C) the position of the AS-curve essentially determines the level of output
D) the position of the AD-curve is affected by changes in efficiency improvements
5 The position of the long-run AS-curve is determined by
A) the full-employment level of output
B) consumer confidence
C) fiscal policy
D) monetary policy
6 In the very long run,
A) the AS-curve is vertical
B) the AS-curve is horizontal
C) the AS-curve is upward sloping
D) the level of output is solely determined by the position of the AD-curve
7 Which of the following is NOT true in the very short run?
A) a shift in the AD-curve will change output but not prices
B) a shift in the AD-curve will change prices but not output
C) the AS-curve is horizontal
D) the position of the AD-curve can be influenced by fiscal policy
8 In the very short run
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