Practice Quiz

CLEP Principles of Macroeconomics Exam Prep - Question List

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46. Although demand changes with a change in price, there are also five general changes that will also lead to a change in demand for people-regardless of whether or not the price changes. Which of the following is one of these changes?
  1. Change in the price of other products
  2. Change in level of income
  3. Change in individual tastes
  4. All of the above
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47. The mayor of Hiramville is looking at some startling statistics about his city. The labor force in Hiramville is 400,000 and there are currently 100,000 people who are unemployed. What is the unemployment rate, expressed as a percentage, in Hiramville?
  1. .25%
  2. 2.5%
  3. 25%
  4. 10%
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48. Human capital consists of workers’ skills and education. True or false?
  1. True
  2. False
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49. Which of the following reduces imports by restricting the quantity of one particular good that can be imported from another country?
  1. Import quota
  2. Embargo
  3. Tariff
  4. Export quota
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50. If the foreign exchange value of a nation’s currency rises, what will happen to the AS and AD respectively?
  1. Decrease; decrease
  2. Increase; increase
  3. Increase; decrease
  4. Decrease; increase
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