Economics - Macroeconomic Issues and Analysis
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Question 1 of 85
1. Question
Which of the following is macroeconomic issue?
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Question 2 of 85
2. Question
What is meant by an objective?
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Question 3 of 85
3. Question
Which of the following is not involved with fiscal policy?
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Question 4 of 85
4. Question
Which does the government not control directly?
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Question 5 of 85
5. Question
Which of the following is not a macroeconomic issue?
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Question 6 of 85
6. Question
Which of the following can the government not use directly to control the economy?
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Question 7 of 85
7. Question
Which of the following is a policy instrument as opposed to a government objective?
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Question 8 of 85
8. Question
Which of the following is a possible government objective as opposed to a policy?
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Question 9 of 85
9. Question
Which of the following is not likely to be government objective?
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Question 10 of 85
10. Question
Reducing inflation is a more important objective than economic growth is an example of:
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Question 11 of 85
11. Question
The percentage of the labour force that is unemployed is the:
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Question 12 of 85
12. Question
The labour force can be defined as:
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Question 13 of 85
13. Question
Since 1998 many government have defined unemployment using:
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Question 14 of 85
14. Question
An individual who is not working and who has given up looking for work is classfied as:
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Question 15 of 85
15. Question
Classifying discouraged workers as unemployed would:
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Question 16 of 85
16. Question
Cyclical unemployment is the:
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Question 17 of 85
17. Question
Aggregate demand is the total demand for all goods and services in an economy from:
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Question 18 of 85
18. Question
Aggregate supply is the total amount:
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Question 19 of 85
19. Question
Unemployment resulting from real wages being above their equilibrium level is called ____ unemployment.
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Question 20 of 85
20. Question
Unemployment resulting from imperfect information in the labour market is called ____ unemployment.
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Question 21 of 85
21. Question
Unemployment resulting from changes in the pattern of demand or supply in the economy is called ____ unemployment.
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Question 22 of 85
22. Question
The demand for ice-cream is lower outside of summer causing lower demand for ice-cream salesman if they cannot find other work, this is called ____ unemployment.
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Question 23 of 85
23. Question
The natural rate of unemployment is generally thought of as the:
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Question 24 of 85
24. Question
As prices rise. People will want to keep more money as cash and in bank accounts This is called:
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Question 25 of 85
25. Question
As prices rise, there will be costs of constantly changing price-tags and reprinting price-lists This is called
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Question 26 of 85
26. Question
Government policies that focus on increasing production rather than demand are called:
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Question 27 of 85
27. Question
Government policies that focus on changing taxes and government spending are called:
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Question 28 of 85
28. Question
Government policies that focus on changing interest rates are called:
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Question 29 of 85
29. Question
If interest rates rise then costs are likely to ___ and demand is likely to ______
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Question 30 of 85
30. Question
If VAT rates rise, then costs are likely to ___ and demand is likely to _____
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Question 31 of 85
31. Question
An economy that trades with and has financial dealing with other countries is called a/an ___ economy.
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Question 32 of 85
32. Question
The record of country’s imports and exports of goods is called its:
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Question 33 of 85
33. Question
The record of country’s imports and exports of goods and services is called its:
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Question 34 of 85
34. Question
The record of a country’s imports and exports of of goods and services plus net investment incomes and current transfers of money to and from abroad, is called its:
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Question 35 of 85
35. Question
The record of a county’s transfers of shareholding property and bank deposits to and from abroad is called its:
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Question 36 of 85
36. Question
The record of country’s transfers of land inter-government payments and money sent by migrants to and from abroad is called its:
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Question 37 of 85
37. Question
The situation when a country imports more than it exports is:
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Question 38 of 85
38. Question
The price of one country’s currency in terms of another country’s currency is the:
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Question 39 of 85
39. Question
If the exchange rate between the UK and Japan changes from £1 = 100 yen to £1 = 150 yen then ceteris paribus, the price of UK goods in Japan:
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Question 40 of 85
40. Question
If a nation’s interest rates are relatively low compared to those of other countries. then the exchange value of its currency will tend to:
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Question 41 of 85
41. Question
If the Pakistan receives larger than expected revenues from exports then the exchange value of its currency will tend to:
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Question 42 of 85
42. Question
If the Pakistan takes part in a war in the Middle East, then the exchange value of its currency will tend to:
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Question 43 of 85
43. Question
If currency dealers expect the value of the pound to fall, the exchange value will tend to:
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Question 44 of 85
44. Question
If Pakistan’s incomes rise faster than those in most other countries the the exchange value will tend to:
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Question 45 of 85
45. Question
If the US economy is forecast to come out of recession because military expenditure has increase then the exchange value of the UK pound will tend to:
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Question 46 of 85
46. Question
If a large car importer in the Pakistan wants to import many cars, then the exchange value of the Pak rupees will tend to:
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Question 47 of 85
47. Question
If the economy is in the expansionary phase of the business cycle, aggregate demand ____ unemployment ____ inflation ____ payments is likely to move towards ____
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Question 48 of 85
48. Question
If the economy is at the peak of the business cycle, aggregate demand ____ unemployment ___ inflation ____ and the current account of the balance of payments is likely to move towards ____
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Question 49 of 85
49. Question
If the economy is in the recessionary phase of the business cycle, aggregate demand ___ unemployment ____ inflation ___ and the current account of the balance of payments is likely to move towards ____
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Question 50 of 85
50. Question
If the economy is in the though phase of the business cycle, aggregate demand ____ unemployment ___ inflation ___ and the current account of the balance of payments is likely to move towards _____
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Question 51 of 85
51. Question
If British residents want more French francs to purchase more French cloths other things equal, then the equilibrium value of the pound against the French franc will:
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Question 52 of 85
52. Question
When the $/£ exchange rate rises the pound _____ and when the $/£ rates falls the pound ____
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Question 53 of 85
53. Question
When a government follows a fixed exchanges ate regime it allows the exchange rate to be determined by market forces
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Question 54 of 85
54. Question
In a fixed exchange rate regime, the central the exchange rate
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Question 55 of 85
55. Question
A current account deficit means that a country may:
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Question 56 of 85
56. Question
Under floating exchange rates a current account deficit must be exactly match by a capital account surplus
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Question 57 of 85
57. Question
Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account
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Question 58 of 85
58. Question
A rise in the real exchange rate will ________ the competitiveness of the domestic economy
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Question 59 of 85
59. Question
Within the circular flow of income, an increase in domestic income will tend to increase
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Question 60 of 85
60. Question
perfect international capital mobility suggests that international funds will be responsive to ________ differentials
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Question 61 of 85
61. Question
When capital mobility is perfect interest rate differentials will tend to be offset by:
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Question 62 of 85
62. Question
The current account will differ from trade balance because of interest flow from foreign assets and debts
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Question 63 of 85
63. Question
Which fixed exchange rates and no private capital flows, to correct a balance of payments deficit, the central bank will _______ and ________
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Question 64 of 85
64. Question
With fixed exchange rates and no private currency flows, when the central bank buys domestic currency the domestic money supply is:
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Question 65 of 85
65. Question
In the absence of international capital controls, central banks set ____ to provide the correct incentive for speculators
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Question 66 of 85
66. Question
A fixed exchange rate, plus perfect capital mobility ____ the scope for monetary policy
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Question 67 of 85
67. Question
The competitive advantage from a devaluation is likely to be offset by ____ and ________
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Question 68 of 85
68. Question
Under floating exchange rates, monetary policy is a powerful tool
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Question 69 of 85
69. Question
Under floating exchange rates, expectations of higher interest rates are likely to cause an ____ of the exchange rate
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Question 70 of 85
70. Question
In the short run the level of floating exchange rates is determined mainly by:
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Question 71 of 85
71. Question
If one country, with floating exchange rates, has higher inflation than its competitors we would expect its exchange rate to:
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Question 72 of 85
72. Question
Floating exchange rates are ____ in the short run
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Question 73 of 85
73. Question
Fixed exchange rates permit a country to have permanently higher inflation
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Question 74 of 85
74. Question
Fiscal policy is weak under floating exchanges rates as fiscal expansion:
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Question 75 of 85
75. Question
The main factor affecting the long run path of the UK nominal exchange rate is the growth of world trade
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Question 76 of 85
76. Question
The main features of the European Monetary system are
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Question 77 of 85
77. Question
In the ERM, each country fixed participant Collectively the group ____ against the rest of the world
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Question 78 of 85
78. Question
International policy co-ordination allows policy-markers to commit to policies they would otherwise avoid
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Question 79 of 85
79. Question
The single European Act committed ________ governments to a ________ in 1992
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Question 80 of 85
80. Question
All of the following are benefits of the single market except
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Question 81 of 85
81. Question
The Masstricht criteria for joining EMU is that a country must have a high growth rate
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Question 82 of 85
82. Question
A monetary union means ________, ________ and ________
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Question 83 of 85
83. Question
The Maastricht criteria for entry to the EMU are that applicants should have
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Question 84 of 85
84. Question
The UK is a member of the EMU
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Question 85 of 85
85. Question
In the EMU a country’s competitiveness can change because of:
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