Submissions

Here are your latest answers:

Question 1
 Macroeconomics is concerned with inflation or deflation, output
growth and unemployment.
Score: 0 out of 1 No CORRECT: TRUE

Question 2
 Macroeconomics is concerned with the market price and equilibrium
quantity of each good or service.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 3
 The employment rate is the number of people employed divided by
number of people in the labor force.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 4
 Hyperinflation and stagflation are two different names which refer to
identical economic conditions.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 5
 The following is a correct order in a business cycle: recession,
trough, peak, expansion.
Score: 1 out of 1 Yes CORRECT: FALSE
Question 6
 An expansion is usually associated with rising price levels.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 7
 A recession is associated with a negative rate of growth of the
economy.
Score: 1 out of 1 Yes CORRECT: TRUE
Question 8
 Fiscal policy generally takes the form of regulations specifying the
maximum amount by which the money supply can be changed.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 9
 Monetary policy includes changing the level of household taxes.
Score: 0 out of 1 No CORRECT: FALSE

Question 10
 A dividend is is paid by shareholders to firms.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 11
 A transfer payment is the tax one pays when transferring real estate.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 12
 According to Keynes, aggregate supply determines the level of
economic activities in the economy.
Score: 0 out of 1 No CORRECT: FALSE

Question 13
 Classical economists believed that economic slowdowns are self-
correcting.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 14
 Depreciation is included in GDP, but excluded from NNP.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 15
 Final sales plus changes in inventories equals GDP.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 16
 New houses count as consumer durables.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 17
 Dairy Queen opens a branch in Estonia. The sales of the restaurant
enter the U.S. GDP and the Estonian GNP.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 18
 ) A GDP deflator is real GDP divided by nominal GDP times 100.
Score: 1 out of 1 Yes CORRECT: FALSE

Question 19
 If nominal GDP rises, then so must real GDP.
Score: 0 out of 1 No CORRECT: TRUE

Question 20
 Production in the illegal or underground economy is not reflected in
GDP.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 21
 When more people who are not working start looking for jobs, the
labor-force participation rate increases.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 22
 The natural rate of unemployment is the unemployment rate during a
period of full employment.
Score: 1 out of 1 Yes CORRECT: TRUE

Question 23
 Anyone 16 years of age or older who is not classified as employed is
classified as unemployed.
Score: 1 out of 1 Yes CORRECT: FALSE
Question 24
 A 100% increase in the price of salt changes the CPI more than a 10%
increase in rent.
Score: 0 out of 1 No CORRECT: FALSE

Question 25
 There are no costs associated with inflation if the inflation rate is
perfectly anticipated.
Score: 1 out of 1 CORRECT: FALSE