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Macroeconomics Fundamentals Test
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Macroeconomics Fundamentals Test
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25 Questions

1. What does purchasing power parity do?
2. Which of the following would switch the aggregate demand curve to the right?
3. A complement good has what kind of elasticity?
4. What does 'ceteris paribus' mean?
5. If the national output in one year is measured at $300 billion and a year later it is measured at $315 billion
6. What is the slope of the consumption function called?
7. True or False: It's impossible to have falling inflation and falling unemployment at the same time.
8. Periods of very high inflation rates
9. The ratio of the change in national income to the change in government spending is called:
10. Keynesian theory is related to:
11. Which scenario is related to an unplanned decrease in inventories?
12. Income elasticity of demand of a good is less than 1 if it is a:
13. If we look at the behavior of the U.S. CPI over the last four decades we realize that inflation
14. Which of the following is NOT a characteristic of Monopolistic Competition?
15. If price level increases the LM curve will shift to
16. The relationship between an economy's unemployment rate and its gross national product (GNP)
17. The aggregate demand and aggregate supply model explains the relationship of
18. Which of the following choices relates to the decision made by congress and the president to lower taxes or increase government purchases?
19. The formula for which of the following quantities contains a term for 'Planned Investment?'
20. GNP and GDP differ because:
21. True or False: Full employment is zero unemployment.
22. What is 'crowding out'?
23. Can the unemployment rate go below the natural rate of unemployment?
24. Negative income elasticity of demand is related to ?
25. According to Keynes

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