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Macroeconomics Introduction 2023 Flashcards | StudBud
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Macroeconomics Introduction 2023
Macroeconomics Introduction 2023
31 terms
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StudBud Administration
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SKEMA Business School. BBA Brazil
Flashcards
31 cards
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Practice quiz
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Questions
31
Answers
1
Of these groups, who is most impacted by inflation?
people who receive periodic raises
people who are debt free
members of unions
people on a fixed income
2
Factors of Production are...
LAND-LABOUR-CAPITAL-ENTERPRENEURSHIP-ENERGY
LAND-LABOUR-CAPITAL-ENTREPRENEURSHIOP-TECNOLOGY
LAND-LABOUR-MONEY-ENTREPRENEURSHIP-AI
LAND-FIRE-SKY-WATERS
3
Which indicator should we use to find out if a country's economy has grown?
HDI
Real GDP
Price Index
Nominal GDP
4
What is the meaning of the term "ceteris paribus"?
"for sure the economics science would say it's so"
"and hope all other things remain the same"
“other things remaining the same”
"the economics surveys prove it's true"
5
The fundamental reason people must chose which goods to buy and consume is because of
people engaging in exchange
scarcity
the great abundance of free resources
specialization
6
What is the income for a bank who provides capital to produce a good or service?
Rent
Interest
Profit
Wage
7
The aggregate supply curve has a positive slope
False
True
8
Define unemployment
The number of people able/willing to work but unable to find a paying job
The number of people unable to find a paying job
The number of people not actively looking for a job, but are able to work
9
What are the economic agents in Macroeconomics?
GDP, Business Cycle, Inflation
Households, Businesses, Government
CPI, GDP, INSS, AS, AD
God only knows
10
Any point on the Production Possibility Frontier shows
Underutilization of resources
Scarcity of resources
Growth of resources
Efficient use of resources
11
A price floor creates a...
Shortage
Surplus
12
The Production Possibility Frontier shows
How entrepreneurship can grow an economy.
Scarcity, trade offs, opportunity cost, and efficiency.
Land, labor, human capital, physical capital, entrepreneur
Production factors and technology of an economy
13
What is the function of the opportunity cost ?
To help the government with its debts
To demostrate business profits
To show how much are you earning
To evaluate different investment alterns
14
Inflation is :
An increase in the general level of economic activity.
A decline in the general price level.
An increase in the general price level.
A decline in the general level of economic activity.
15
What causes inflation?
The business cycle
Depreciation
A drop in the amount of money in circulation
An increase in the amount of money in circulation
16
What is the usual result of setting a price ceiling on rents?
People can find apartments but cannot afford them
Houses are broken up into apartments to meet demand
construction jobs increase
More people want to rent apartments than are available
17
opportunity cost
cost of selling a business to begin another
earning the best profit possible
cost of operating a business
cost of choosing one opportunity or investment over another
18
What is income for a worker who provides labor to produce a good or service?
Rent
Interest
Profit
Wage
19
What is the income for a landowner who provides land to produce a good or service?
Rent
Interest
Wage
Profit
20
Which of the following citizens is most likely to be affected by high inflation?
A factor worker
A retired grandmother on a fixed income
A Shopkeeper
A doctor with a suburban practice
21
What is the income for an entrepreneur who provides the idea to produce a good or service?
Interest
Profit
Rent
Wage
22
The aggregate demand curve has a positive slope
True
False
23
What is a price ceiling?
the maximum quantity of demand for a good or service
the minimum quantity of demand for a good or service
the maximum price a good or service can be priced
the minimum price a good or service can be priced
24
If the Federal Reserve prints more money, what will happen to inflation?
increases
unpredictable
decreases
stays the same
25
Does not characterize the Free Market
Trades are positive-sum exchanges
Both sides expect to gain
All exchanges are voluntary
The government sets some prices
26
It isn't a characteristic of land
Limited quantity
Passive factor
Mobile Factor
The gift of nature
27
Which of the sentences is not a characteristic of a good economist?
Looks at the longer and indirect consequences.
Sees only what immediately strikes the eye.
inquires what the long-run effects of that policy will be.
Inquires what the effect of the policy will be on all groups
28
Economics is a social science that studies the allocation of...
money, GDP and inflation only
scarce resources
money resources
government policies and economic decisions
29
What is Inflation + Nominal Interest Rate?
Real interest rate
Taxes
Government Payments
Exports
30
Macroeconomics focuses on things like _____.
salaries that Bradesco gives to new graduates..
the cost of a University offering a new course.
the number of iPhones imported from USA.
government policies that should be adopted.
31
What is Macroeconomics?
The study of the firm and its environments.
The study of how to make the firm more profitable.
The study of the economy in total or aggregate.
The study of the economy and it's scarce resources.
