Economics Quiz

Economics Quiz

12th Grade

43 Qs

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Economics Quiz

Economics Quiz

Assessment

Quiz

Others

12th Grade

Hard

Created by

Angelita A

FREE Resource

43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Aggregate demand may be measured by adding

consumption, investment, savings, and imports

savings, government spending, and business inventories

consumption, investment, government spending, and net exports

domestic private expenditures and government spending

domestic expenditures and imports

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The graph above shows the macroeconomic conditions of Wattsonia. Many economists estimate that the natural rate of unemployment is 6 percent. If this is true and the current rate of unemployment is 9.1 percent, at what rate of real gross domestic product is the economy currently producing?

Less than Y1

At Y1

At Y2

Greater than Y1 and less than Y2

Greater than Y2

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economy of a country is currently in equilibrium at point A in the diagram above. If the government does nothing and wages are flexible, which of the following will most likely occur in the long run?

Falling wages will shift the aggregate demand curve to the right, producing full employment.

Rising wages will shift the aggregate demand curve to the right, producing full employment.

The economy will remain at point A.

Rising wages will shift the aggregate supply curve to the right, producing full employment.

Falling wages will shift the aggregate supply curve to the right, producing full employment.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assume that the economy is at full-employment equilibrium in the diagram shown above. Which of the following would lead to stagflation?

A leftward shift of the short-run aggregate supply curve only

A rightward shift of the short-run aggregate supply curve only

A leftward shift of the aggregate demand curve only

A rightward shift of the aggregate demand curve only

A rightward shift in both the short-run aggregate supply curve and the aggregate demand curve

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The intersection of the aggregate supply curve and the aggregate demand curve occurs at the economy's equilibrium level of

real investment and the interest rate

real disposable income and unemployment

real national output and the price level

government expenditures and taxes

imports and exports

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A major advantage of automatic stabilizers in fiscal policy is that they

reduce the public debt

increase the possibility of a balanced budget

stabilize the unemployment rate

go into effect without passage of new legislation

automatically reduce the inflation rate

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the government increases expenditures on goods and services and increases taxation by the same amount, which of the following will occur?

Aggregate demand will be unchanged.

Aggregate demand will increase.

Interest rates will decrease.

The money supply will decrease.

The money supply will increase.

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