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Macro, Inc. Flashcards | StudBud
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Macro, Inc.
Macro, Inc.
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1
Thanks to scream extractor devices, scarers are unneccessary & laid off. This is an example of:
Frictional Unemployment
Cyclical Unemployment
Structural Unemployment
Discouraged Unemployment
2
The country of Monstropolis is fully employed! This means...
There is no frictional unemployment
There is no cyclical unemployment
All citizens have paying jobs
All adult citizens have paying jobs
3
The govt. of Monstropolis wants to bring the country out of a recession. This can be done by:
Implementing a contractionary fiscal policy
Selling bonds
Buying bonds
Implementing an expansionary discretionary fiscal policy
4
The economy of Monstropolis operates at potential GDP. An increase in money supply will lead to
Less investment
Stagflation
Demand-side inflation
Supply-side inflation
5
Which of the following is not something that Roz has said?
This office is now closed.
One more time, and I'll fire you.
I'm watching you, Wazowski. Always watching.
Don't let it happen again.
6
In the free market of Monstropolis, there is an excess demand for screams, which would cause...
Quantity supplied increases
Price increases
Quantity supplied decreases
Price decreases
7
Which monster do Mike and Sully meet while walking to work?
Ted
Red
Fred
Jed
8
If Mike Wazowski was John Maynard Keynes, he would most likely assert that...
Government should not interfere in the economy
Price level fluctuates in a truly free market
The market self-corrects
LRAS will not shift
9
Who was the CEO of Monsters Inc. for the majority of the movie?
The Abominable Snowman
James P. Sullivan
Harry James Waternoose II
Henry James Waternoose III
10
Monsters Inc. invests money in new capital. Which macroeconomic indicator is directly affected?
NRU
NIR
GPDI
PCE
11
Citizens of Monstropolis expect higher income in the future! This would cause:
Aggregate Demand to shift left
No shift to occur
Aggregate Supply to shift right
Aggregate Demand to shift right
12
Monsters Inc. has a comparative advantage (in the collection of screams) over Fear Co. if...
Fear Co. is most efficient in collecting screams
The variable costs are lower for Monsters Inc. than Fear Co.
The opportunity cost is lower for Monsters Inc. than Fear Co
Monsters Inc. collects more per day than Fear Co.
13
If MPC=0.8 in Monstropolis, what's the largest total increase in GDP from $500 of new spending?
$500
$2500
$5000
$400
14
Monstropolis finds that laughs are more efficient than screams and are cheaper. This means:
Aggregate Demand shifts right
LRAS shifts left
SRAS shifts left
SRAS shifts right
15
Randall is believes in classical economics. Which of the following would he disagree with?
LRAS will shift
The Price Level is flexible
Nominal Wages are flexible
The government should follow laissez-faire principles
