macroeconomic study guide

Daniel Kevins

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Which of the following would most likely be part of the study of microeconomics?

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Question 2 (1 point)

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One characteristic of automatic stabilizers is that

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Question 3 (1 point)

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Contractionary fiscal policy will most likely

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Which statement most accurately describes economics?

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Question 5 (1 point)

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Which of the following statements is a positive economic statement?

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Question 6 (1 point)

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Suppose the Fed conducts an open market purchase of bonds. This monetary policy action will tend to cause

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Question 7 (1 point)

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An example of an automatic stabilizer is

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Question 8 (1 point)

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Given the list of assets below, which is the most liquid?

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Question 9 (1 point)

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How would expansionary monetary policy affect the AD curve?

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Question 10 (1 point)

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People hold money as an asset rather than other assets because

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Question 11 (1 point)

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In economics, ________ are limited but ________ are unlimited.

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Question 12 (1 point)

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If a bank receives a new transaction deposit of $10,000 and the reserve ratio is 5 percent, then the bank could expand its loans by as much as

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Question 13 (1 point)

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The Federal Open Market Committee engages in contractionary monetary policy by

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Question 14 (1 point)

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Macroeconomics deals with ________ while microeconomics deals with ________.

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Question 15 (1 point)

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According to traditional Keynesian analysis, fiscal policy operates by

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Open market operations are

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Question 17 (1 point)

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The opportunity cost of holding money is measured by

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Question 18 (1 point)

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Which of the following is an example of fiscal policy?

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Question 19 (1 point)

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The headline in the local paper today is “College tuition next fall rise by 6 percent.” This statement is an example of

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Question 20 (1 point)

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If you save $20,000 for a down payment on a house, you are using money as

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Question 21 (1 point)

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Microeconomics is defined as that part of economic analysis that

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Question 22 (1 point)

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Expansionary monetary policy during periods of underutilized resources can cause

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Question 23 (1 point)

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Which of the following would shift the aggregate demand curve to the right?

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Question 24 (1 point)

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Total reserves of private banks are

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Question 25 (1 point)

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“The U.S. government should not use my tax dollars to subsidize people on welfare”

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Question 26 (1 point)

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Which of the following represents the law of supply?

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Question 27 (1 point)

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Which of the following statements about scarcity is TRUE?

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Question 28 (1 point)

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Which of the following would be included when calculating Gross Domestic Product?

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Question 29 (1 point)

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Refer to the above figure. If the relevant aggregate demand curve is AD2, what is the current economic situation?

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Question 30 (1 point)

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The formula (1/required reserve ratio) is the

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Question 31 (1 point)

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Which of the following is NOT a reason why people are motivated to hold money?

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Question 32 (1 point)

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tableau3 ( ( AmountComponent (Billions of dollars))(Currency $700Coins 35Transaction Deposits 570Saving Deposits 450Travelers' Checks 8Small Denomination Time Deposits 2,144Money Market Mutual Fund Shares 1,430Overnight Eurodollars 16Available Credit on Credit Cards 1,000) )

According to the above table, the value of M2 is

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Question 33 (1 point)

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The opportunity cost of going to college for a student receiving a scholarship

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Question 34 (1 point)

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Which of the following actions could be undertaken if the government wants to reduce a recessionary gap?

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Question 35 (1 point)

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Suppose there currently is an inflationary gap. What could the government do to bring the overall price level down?

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Question 36 (1 point)

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Suppose the economy is experiencing an inflationary gap at the current level of GDP. Which of the following fiscal policy actions would be most appropriate given this gap?

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Question 37 (1 point)

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Economics can be described as the study of how people use ________ resources to satisfy ________ wants.

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Question 38 (1 point)

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Which of the following would NOT be an asset on a bank’s balance sheet?

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Question 39 (1 point)

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Refer to the above figure. Suppose the economy is operating at point A. There is a recessionary gap of ________, which can be closed by ________.

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Question 40 (1 point)

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A person puts a $10 bill in the glove compartment of his car in case of an emergency. This is an example of

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Question 41 (1 point)

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Scarcity arises because

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Question 42 (1 point)

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If the Fed decides to buy bonds, the result will be

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Question 43 (1 point)

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Using the interest rate as a measure of the opportunity cost of holding money, the demand for money curve

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Question 44 (1 point)

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Which of the following best describes a nation’s Gross Domestic Product?

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Question 45 (1 point)

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Fiscal policy includes all of the following EXCEPT

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Question 46 (1 point)

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tableau3 ( ( AmountComponent (Billions of dollars))(Currency $700Coins 35Transaction Deposits 570Saving Deposits 450Travelers' Checks 8Small Denomination Time Deposits 2,144Money Market Mutual Fund Shares 1,430Overnight Eurodollars 16Available Credit on Credit Cards 1,000) )

According to the above table, the value of M1 is

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Question 47 (1 point)

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Unemployment compensation programs are called automatic stabilizers because payments increase during

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Question 48 (1 point)

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Daniel Kevins

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