vu eco403 Final Term - Quiz No.6
vu eco403 Macroeconomics Quiz
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Question 1: Each factor of production is paid its marginal product. This is stated by which of the following theory?
Neoclassical theory of distribution
Keynesian theory of consumption
Real business cycle theory
Quantity theory of money
Question 2: Which of the following shows the slope of the consumption function?
The marginal propensity to consume
The marginal propensity to save
The autonomous consumption spending
Marginal rate of substitution
Question 3: Demand curves are derived while holding constant:
Income, tastes, and the price of the good
Income and tastes
Tastes and the price of other goods
Income, tastes, and the price of other goods
Question 4: Suppose that a country in a steady state implements policies to increase its saving rate. After the new steady state is reached:
Output per worker will grow more rapidly than before.
The level of output per worker will be higher than before
The amount of capital per worker will be the same as before
All of the given options
Question 5: Which of the following expenditures are counted as part of government consumption and investment?
Transfer payments
Interest payments on the government debt
Expenditures by state and local governments
Social Security benefits
Question 6: If S-I and NX are exactly equal to zero i.e the value of imports equals the value of exports then:
We have trade surplus.
We have trade deficit.
We have balance trade.
We have no trade at all.
Question 7: Which of the following would decrease aggregate demand?
Increased consumption
Increased export revenue
Increased taxation revenue
Increased investment.
Question 9: Which of the following is NOT an example of consumption expenditure?
Television sets
Military airplanes
Clothing
Restaurant meals
Question 10: Which of the following is NOT the short run impact of an increase in money supply?
An increase in output level
An increase in price level
An increase in consumption
An increase in investment
