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Macroeconomics Round 2 Finals Review! Flashcards | StudBud
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Macroeconomics Round 2 Finals Review!
Macroeconomics Round 2 Finals Review!
29 terms
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2,398 plays
A Review for Economics Classes
Flashcards
29 cards
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Practice quiz
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Host live
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Questions
29
Answers
1
What is the correct equation for GDP Deflator?
Nominal GDP x Real GDP
Real GDP/Nominal GDP x 100
Nominal GDP/Real GDP x 100
Nominal GDP + Real GDP - (Nominal GDP + Real GDP)^2
2
An example of expansionary fiscal policy would be which of the following?
Janet Yellen raising the fed funds rate to 0.5%.
George W. Bush lowering marginal tax rates for everyone.
Donald Trump donating $1 million to the US Treasury.
Obama raising the marginal tax rates to 39.6%
3
Hong Kong's income tax rate is 15% for all levels of income. Thus, it's tax system is this.
Regressive
Proportional
All of the above
Progressive
4
What's the most appropriate hashtag for contractionary fiscal policy?
#decreasegovernmentspending
#cuttaxes
#lockbox
#increasefederalfundsrate
5
Which of the following terms best describes the type of RESERVE system that the US operates under?
Ample Reserve
Limited Reserve
All of the Above
Excess Reserve
6
Which of the following statements best characterizes Keynesian economics?
The markets will eventually correct things, so do nothing.
In the long-run, we're all dead. Live it up. YOLO!
If the economy is in recession, government should intervene.
Taxes are the source of economic malaise. Let's reduce them!
7
The lowest point in an economic contraction is called which of the following?
Peak
Depression
Recession
Trough
8
Large, well-known companies traded on the NYSE are referred to as this "color"-chip stock that Ryan would invest in.
Green
Blue
Red
Black
9
What was my career COLLEGE Slugging Percentage? (Shown at the END of the VIDEO)
1.000
3.000
2.000
4.000
10
The "market basket" used by the Bureau of Labor Statistics to calculate prices contains what?
Typical goods and services for an urban household.
Nonfood items only.
Food items only.
Typical goods and services for rural and military personnel.
11
The world's largest pension is funded by a payroll tax of 6.2%. What is this pension called?
Social Security
Medicaid
State Teacher's Retirement
Medicare
12
People like Christian tend to invest in bonds in this type of market in which the value of stocks
falls.
Bull Market
Dog Market
Pig Market
Bear Market
13
What is NOT an example of contractionary monetary OR fiscal policy?
Decreasing Government Spending
Raising the Fed Funds Rate
Raising Taxes
Increase Government Spending
14
Arianna has given up on getting a job. She watches Netflix & wishes she had employment but doesn't look for a job
She is cyclically unemployed.
She is a discouraged worker.
All of the above.
She is structually unemployed.
15
Supply-side economists would favor stimulating the economy by doing which of the following?
Lowering taxes
Selling government securities
Raising taxes
Raising the federal funds rate
16
She was the first female chair of the Federal Reserve!
Janet Yellen
Janet Jackson
Anabelle Greenspan
Bertha Bernanke
17
Noah, a soldier in the military is replaced by a robot soldier. Noah is so sad that he moves to Texas, and is also
the most interesting man in the world.
structurally unemployed.
cyclically unemployed
frictionally unemployed.
18
"Welcome to McDonalds, may I take your order?" says Diego, a Harvard pHD in economics. He is
a discouraged worker.
cycically unemployed.
underemployed.
overemployed.
19
If the Required Reserve Ratio (or RRR) is 20%, how much of $1 million deposit can Chase lend?
$900,001
$950,000
None of the above.
$1 million
20
Which of the following is the MOST liquid asset?
Cash
Stocks & Bonds
Real Estate
A Certificate of Deposit
21
What is the name of the form that people use to file their annual taxes?
1040 Tax Form
W-4 Tax Form
W-2 Tax Form
WD40 Tax Form
22
The FOMC meets this many times a year to adjust the direction of the fed funds rate.
12
4
8
15
23
Which of the following is NOT a function of the Federal Reserve?
Raising the Discount Rate
Raising Taxes
Buying Government Securities
Selling Government Securities
24
Doh! Patrick received a $10,000 tax refund. He should revise this form FOR his employer!
W-2 Form
1040EZ Form
1040 Long Form
W-4 Form
25
IN A LIMITED RESERVE SYSTEM, if the Fed wants to "shrink" the money supply, what action will it most likely take?
Sell Government Securities
Buy Government Securities
Lower Discount Rate
Lower Reserve Requirements
26
Which of the following is
NOT
associated with April 15th of every year?
Abraham Lincoln was killed by JWB on April 15th, 1865
Jackie Robinson broke the color barrier as a Brooklyn Dodger
It's the annual deadline for Americans to file income taxes.
John F. Kennedy was assassinated by LHO on April 15th, 1963.
27
What is the current Required Reserve Ratio (as of 3/20)? HINT: It was an emergency measure because of result of COVID.
0%
100%
10%
20%
28
Yuxin quits her job as a music teacher but can't find a new job as nurse. She is
frictionally unemployed.
structurally unemployed.
seasonally unemployed.
cyclically unemployed.
29
The interest rate that bonds pay or the rate at which cost-conscious shoppers clip like Rogelio clip these....
Coupon Rate
Market Cap Rate
Maturity Rate
Par Value Rate
