Macroeconomics MCQs | Principles of macroeconomics

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Macroeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services.
Macroeconomics An introduction MCQs | MCQs.CLUB

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Macroeconomics MCQs

Macroeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. Here on MCQs.club we have prepared Multiple Choice Question (MCQs) on Introduction to macroeconomics that fully cover the principles of macroeconomics, macroeconomics examples/meaning/policy/theory/for dummies/ basic macroeconomics. These macroeconomics lessons are useful for Professional accountancy exams, Business management exams, competitive exams.

  1. Macroeconomics –
    1. It is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services.
    2. It is the field of economics that studies the decisions of individuals, firms and countries in the aggregate (in total).
    3. Both A&B
    4. None
  1. Most governments macroeconomic objectives which would be generally expected to be beneficial to the population. From the following identify such objectives:
    1. Economic growth: This would increase the wealth of the country and hopefully the standard of living of the population.
    2. Low price inflation: Most population accept that a certain level of inflation is desirable but high inflation erodes wealth and reduces consumer confidence.
    3. Equilibrium in the balance of payments.
    4. All of the above
  1. Macroeconomics is concerned with questions like:
    1. What causes the economy to grow over time?
    2. What are the key economic indicators that should be tracked to provide information on the health of the economy and the result of government action?
    3. What causes fluctuations in an economy and how can they be managed?
    4. All of the above
  1. To encourage growth in the economy, which of the following policies Governments might instigate?
    1. A government might reduce interest rates.
    2. A government might invest in technical education in order to provide a work force which would allow expansion in certain industries.
    3. Both A&B
    4. None
  1. Measures used to measure the size of an economy include:
    1. National income
    2. Gross domestic product
    3. Gross national product
    4. Net national product
    5. All of the above
  1. National income –
    1. It is the monetary value of the flow of goods and services produced by the economy during the year, after indirect taxes.
    2. It is the amount of all products that any society produces using its land, labour, physical capital and human capital.
    3. It is equal to the sum of money values of all consumption and investment goods, along with government purchases.
    4. All of the above
  1. Difficulties in measuring national income include:
    1. Lack of trained staff
    2. Illiteracy/unreliable record keeping
    3. Inadequate information caused by poor collection procedures
    4. All of the above
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