Which is an economic consequence of unemployment?

A loss of government revenue from tax., An increase in the number of stay at home mums and dads.

What is the definition of direct taxes?

Taxes paid directly to the government tax authorities.

Regressive tax systems tend to...

make the distribution of income less equal.

What is a cause of poverty?

Poverty, Low incomes, Geography (as in location, not the class)

Which is not a problem when using the Consumer Price Index to calculate inflation?

Cannot be weighted to determine importance

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IB Econ Macroeconomic Objectives

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A quiz on parts of macroeconomic objectives in the IB economics course #ib #economics #macro #hl #macroeconomics

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Questions 17

Answers

1
Which is an economic consequence of unemployment?
A loss of government revenue from tax.
An increase in the number of stay at home mums and dads.
An improvement in the distribution of income.
The increased consumption of weed.
2
What does this graph illustrate?
The expansion of an elastic band
An increase in production possibilities
Non-parallel shifts of the PPC
A decrease in production possibilities
3
The type of unemployment not included in official calculations is...
Seasonal
Underemployment
Structural
Frictional
4
Which of the following will not cause the aggregate supply curve to shift?
Price Ceiling
Clicking me
Productivity
Technology
5
What is the definition of direct taxes?
Tax applied on the import of foreign goods.
Taxes paid directly to the government tax authorities.
Tax on farm cows' carbon emissions.
Taxes on spending on goods and services.
6
Regressive tax systems tend to...
exacerbate gender inequality.
make the distribution of income more equal
make the distribution of income less equal.
create a more regressive population.
7
What is a cause of poverty?
Poverty
Low incomes
Skilled human capital
Geography (as in location, not the class)
8
What does CPI stand for?
Crispy Pineapple Ice-cream
Constant Price Index
Consumer Price Index
Consumer Price Identity
9
What type of inflation is shown in the diagram?
Demand-pull Inflation
Cost-push Inflation
Trick question... there is no inflation.
Chronic Inflammation
10
Which is a market based supply side policy?
Building infrastructure
Investment in technology
Deregulation
Investment in human capital
11
What does this graph explain?
The shape of the LRPC and SRPC
The relationship between unemployment and income
The 2008 Recession
The Wage-Price Spiral
12
What is the name of this curve?
Phillips Curve
The Curve
Lorenzo Curve
Average Cost Curve
13
Which one of these is not a Macroeconomic Objective?
Low and Stable rate of Inflation
Low Unemployment
Unequal distribution of wealth
Economic Growth
14
AD increases, creating an inflationary gap. What makes the AS go naturally to full employment?
The Multiplier Effect
Wage-Price Spiral
Fiscal Policy
Government Intervention
15
Which of these does the government try to keep as low as possible?
Economic Growth
Inflation
Sustainability
Unemployment
16
Which is not a problem when using the Consumer Price Index to calculate inflation?
Cannot be weighted to determine importance
Does not reflect price changes for producers
Does not reflect quality changes
Does not reflect purchases of all households
17
Inflation helps _________
Exporters
Savers
Borrowers
Fixed income earners

IB Econ Macroeconomic Objectives Flashcards | StudBud