Chisum Econ Macro Mega Quiz

Which of the following best explains the effect of a decrease in short run aggregate supply?

An increase in CPI from 125 to 175 represents inflation.

Which of the following is an example of expansionary monetary policy?

The price of Yeezy Boosts in 2015 was $400. CPI today is 150. Using 2015 as the base year calculate the current price.

Which of the following is would a central bank use in order to combat a recession?

Which of the following best explains why the money demand curve is downward sloping?

Which of the following best defines aggregate demand?

An increase in the money supply curve will lead to which of the following?

A financial account surplus represents which of the following?

If the current account is negative, the financial account is most likely:

Which of the following best defines a "budget deficit"?

Which of the following is most likely true of inflation & unemployment during the expansion phase of the business cycle?

Which of the following would be an example of a public transfer payment?

Which two sectors of the economy are represented in the circular flow model?

The Bank of England regulates the financial system in the UK and implements monetary policy. This is an example of a:

Fill in the blanks: LRAS represents _______ output while the intersection between AD & SRAS represents ________ output

What term is best defined as "a system in which banks hold a portion of deposits in reserve and lend out the rest"?

If GDP deflator is 150, nominal GDP is greater than real GDP.

Which of the following would most likely shift long run aggregate supply to the right?

Pati leaves her job as a DJ to look for a job as a neurosurgeon. Pati is considered:

Which of the following is a feature of comparative advantage?

Consumer Price Index and GDP Deflator are both measurements of what economic indicator?

Expansionary fiscal policy will lead to an increase in the budget deficit (or a decrease in the budget surplus)

An increase in interest rates will increase aggregate demand.

Which of the following is NOT one of the key macro indicators?

Which of the following is NOT a tool of monetary policy?

A bank has $50,000 in deposits and $12,000 in reserves. Required reserve rate = 10%. Calculate their excess reserves

GDP deflator increases from 200 to 220. Calculate the rate of inflation.

Population = 100 million, # of employed = 70 million, # of unemployed = 10 million. Calculate unemployment rate.

Which of the following would be a tool of contractionary fiscal policy?