Practice Quiz

CLEP Principles of Macroeconomics Exam Prep - Question List

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6. A country’s national economy has shown an 8% growth over the past 4 years. Before that, the economy moved from recession to stagnation over a period of 10 years. What is this economic fluctuation referred to?
  1. Business cycle
  2. Economic forecast
  3. Growth cycle
  4. Stagnation cycle
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7. When government spending (G) goes up, does the aggregate demand curve (AD) shift? If so, which way?
  1. No
  2. Yes. The curve shifts to the left.
  3. Yes. The curve shifts to the right.
  4. It is impossible to tell given the information.
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8. When discussing the aggregate expenditure approach, economists generally include four distinct types of spending: investment, government spending, net exports, and ____________.
  1. Peak
  2. Double counting
  3. Consumption
  4. Medicare
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9. What happens if the demand for oranges increases, but the supply of oranges decreases?
  1. The price and quantity will both increase
  2. The price and quantity will both decrease
  3. The price will increase, but the quantity will decrease
  4. The price will increase, but it cannot be determined what will happen to the quantity
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10. Which type of unemployment occurs as a result of a mismatch between the skills of the unemployed population and the type of jobs that are available?
  1. Frictional unemployment
  2. Structural unemployment
  3. Skills unemployment
  4. Cyclical unemployment
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