vu eco403 Final Term - Quiz No.14
vu eco403 Macroeconomics Quiz
This quiz belongs to book/course code vu eco403 Macroeconomics of vu organization. We have 22 quizzes available related to the book/course Macroeconomics. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: The production function is a function that:
Relates factor prices to the amounts of inputs demanded
Relates marginal products of factors of production to factor prices
Relates factors of production to the amount of output produced
Always have constant returns to scale
Question 2: The Golden Rule level of capital accumulation k*gold denotes the steady state with the highest:
Level of consumption per worker
Level of output per worker
Growth rate of consumption per worker
Growth rate of output per worker
Question 4: The GDP deflator can be used:
To reduce the overstatement of economic activity that would occur if we included intermediate production.
To correct nominal GDP for the contribution to domestic GDP made by foreign owned factors of production.
To decompose a change in nominal GDP into a change in real GDP and an average change in prices.
Question 5: Which of the following is the formula of unemployment rate?
Labor Force/Population
Unemployed / Employed + Unemployed
Employed + Unemployed
Labor Force + Not in Labor Force
Question 6: Television sets are examples of:
Durable goods.
Services
Non-durable goods
Transfer products
Question 7: Inventory investment is proportional to the change in output. Which model describes this statement?
Multiplier model
Accelerator model
IS-LM model
AD-AS model
Question 9: Which of the following is TRUE about the measurement of Real Gross Domestic Product?
It is measured in the prices of a base year
It is measured in current dollars
It is measured at a constant output level but at current prices
It is measured as the difference between the current year's GDP and last year's GDP
Question 10: Inflation resulting from supply shocks is known as:
Demand pull inflation
Cost push inflation
Expected inflation
Food inflation
