Macroeconomics Quiz

Macroeconomics studies:

• Individual consumer behavior

• Aggregate economic behavior

• Production of specific goods

• Microeconomic policies

Which of the following is a major issue in macroeconomics?

• Individual pricing strategies

• Supply chain management

• Inflation

• Brand marketing

GDP measured by the output method includes:

• The market value of intermediate goods

• The market value of all final goods and services

• The value of only government services

• The total production costs

Which of the following methods is used to measure GDP?

• Output method

• Income method

• Expenditure method

• All of the above

In the expenditure method, which of the following is included in GDP?

• Total government spending

• Household savings

• Imports

• All investments, including foreign

Which of the following is excluded from GDP when using the investment method?

• Wages and salaries

• Rent and interest

• Government transfer payments

• Corporate profits

Real GDP accounts for:

• Current prices

• Base year prices

• Nominal inflation

• Only exported goods

The unemployment rate is calculated as:

• (Unemployed / Labor force) × 100%

• (Labor force / Total population) × 100%

• (Employed / Labor force) × 100%

• (Unemployed / Employed) × 100%

An economy produces only one good, a laptop, and there are no intermediate goods. The total output of the economy is 100 laptops, and the price of each laptop is $1,000.

All 100 laptops are purchased by households for their personal use (consumption), and no laptops are exported or imported. In addition, suppose that businesses invest $10,000 in new laptop manufacturing equipment, and the government spends $5,000 on laptops for public schools. GDP?

• $115.000

• $150.000

• $125.000

• $200.000

A Vietnamese working in the US and sending money back to Vietnam. This remitted money will be counted in Vietnam's ___