Economics

The post is about Macroeconomics MCQs Online Test. Check your macroeconomics knowledge with this quiz! Perfect for students, exam prep, and job interviews. Covers key concepts such as GDP, GNP, inflation, unemployment, fiscal and monetary policy, and economic indicators. Challenge yourself with these essential macroeconomics questions! Let us start with the Macroecnomics MCQs Online Test now.

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Macroeconomics Quiz 4

Online Quiz about Macroeconomics for exam and job interview preparation

1 / 20

Which of the following is a tool of fiscal policy that automatically stabilizes the economy during economic downturns?

Discretionary government spending

Tax cuts

Automatic stabilizers

Open market operations

2 / 20

What is the term for the total value of all final goods and services produced by a country's residents, regardless of where they are located?

Gross National Product (GNP)

Gross Domestic Product (GDP)

Net Domestic Product (NDP)

Net National Product (NNP)

3 / 20

Which of the following is a characteristic of the Keynesian economic theory?

Government intervention in the economy is unnecessary

Monetary policy is the primary tool for stabilizing the economy

Aggregate demand can fall short of aggregate supply, leading to recessions

Prices and wages are flexible and will adjust to equate supply and demand

4 / 20

Which of the following is a measure of the total value of all final goods and services produced in an economy, adjusted for inflation?

Nominal GDP

Real GDP

GNP

GDP deflator

5 / 20

The natural rate of unemployment is sometimes referred to as the:

Frictional unemployment rate

Structural unemployment rate

Full employment rate

Cyclical unemployment rate

6 / 20

What is the term for the situation in which an economy is producing below its potential output?

Full employment

Recession

Stagflation

Inflation

7 / 20

Which of the following is a measure of the total value of all final goods and services produced in an economy in a given period of time?

Gross National Product (GNP)

Net National Product (NNP)

Gross Domestic Product (GDP)

Net Domestic Product (NDP)

8 / 20

Which of the following is an example of a lag in fiscal policy?

The time it takes for the stock market to react to economic news

The time it takes for the central bank to change interest rates

The time it takes for the government to pass a new tax law

The time it takes for consumers to adjust their spending in response to a change in interest rates

9 / 20

Which of the following is a measure of the total value of all income earned by residents of a country, excluding income earned abroad?

Gross Domestic Product (GDP)

Gross National Product (GNP)

Net National Product (NNP)

Net Domestic Product (NDP)

10 / 20

Which of the following is an example of an automatic stabilizer in fiscal policy?

Decreasing government spending during a recession

Increasing taxes during an economic boom

Conducting open market operations

Providing unemployment benefits during a recession

11 / 20

Which of the following is an example of an expansionary fiscal policy?

Increasing government spending

Selling government securities

Decreasing government spending

Raising taxes

12 / 20

What is the term for a situation where the government's expenditures are equal to its revenues in a given year?

Budget deficit

Balanced budget

Trade surplus

Budget surplus

13 / 20

What is the term for the total value of all final goods and services produced by a country's residents, regardless of where they are located?

Net National Product (NNP)

Gross National Product (GNP)

Gross Domestic Product (GDP)

Net Domestic Product (NDP)

14 / 20

In the Solow growth model, what is the primary driver of long-term economic growth?

Government spending

Population growth

Technological progress

Monetary policy

15 / 20

Which of the following is a measure of the change in the price level of a basket of goods and services over time?

Exchange rate

Inflation rate

Interest rate

Unemployment rate

16 / 20

What is the term for a sustained decrease in the general price level of goods and services in an economy?

Disinflation

Inflation

Stagflation

Deflation

17 / 20

Which of the following is an example of a leading economic indicator?

Gross Domestic Product (GDP)

Unemployment rate

Inflation rate

Retail sales

18 / 20

What is the term for the percentage of the labor force that is not employed but is actively seeking employment?

Labor force participation rate

Inflation rate

Unemployment rate

Poverty rate

19 / 20

Which of the following is a measure of the total value of all income earned by residents of a country, excluding income earned abroad?

Net National Product (NNP)

Gross Domestic Product (GDP)

Net Domestic Product (NDP)

Gross National Product (GNP)

20 / 20

Which of the following is an example of a contractionary monetary policy?

Selling government securities

Increasing the money supply

Lowering interest rates

Decreasing the reserve requirement

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Macroeconomics MCQs Online Test with Answers

• What is the term for the total value of all final goods and services produced by a country’s residents, regardless of where they are located?
• Which of the following is a measure of the total value of all income earned by residents of a country, excluding income earned abroad?
• What is the term for the situation in which an economy is producing below its potential output?
• Which of the following is a characteristic of the Keynesian economic theory?
• The natural rate of unemployment is sometimes referred to as the:
• Which of the following is an example of a contractionary monetary policy?
• What is the term for a sustained decrease in the general price level of goods and services in an economy?
• Which of the following is a measure of the change in the price level of a basket of goods and services over time?
• In the Solow growth model, what is the primary driver of long-term economic growth?
• What is the term for the percentage of the labor force that is not employed but is actively seeking employment?
• Which of the following is an example of a lag in fiscal policy?
• Which of the following is an example of a leading economic indicator?
• Which of the following is a measure of the total value of all final goods and services produced in an economy, adjusted for inflation?
• What is the term for a situation where the government’s expenditures are equal to its revenues in a given year?
• Which of the following is an example of an automatic stabilizer in fiscal policy?
• Which of the following is a tool of fiscal policy that automatically stabilizes the economy during economic downturns?
• Which of the following is an example of an expansionary fiscal policy?
• Which of the following is a measure of the total value of all final goods and services produced in an economy in a given period of time?
• What is the term for the total value of all final goods and services produced by a country’s residents, regardless of where they are located?
• Which of the following is a measure of the total value of all income earned by residents of a country, excluding income earned abroad?

Try Python NumPy Quiz

Test your macroeconomics knowledge with this challenging quiz! The macroeconomics Quiz covers economic theory, GDP, inflation, monetary policy, unemployment, and more. This quiz is perfect for students, professionals, and economics enthusiasts. See if you can ace all 20 questions! Let us start with the Online Macroeconomics Quiz now.

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Created by Muhammad Imdad Ullah

Macroeconomics Quiz 3: Can You Score 10/10?

Online Macroeconomics Quiz with answers

1 / 20

Which of the following is an example of a contractionary monetary policy?

Lowering interest rates

Decreasing the reserve requirement

Selling government securities

Increasing the money supply

2 / 20

What is the term for the percentage of the labor force that is unemployed and actively seeking employment?

Unemployment rate

Poverty rate

Labor force participation rate

Inflation rate

3 / 20

Which of the following is an example of a disinflationary policy?

Lowering taxes

Reducing interest rates

Increasing government spending

Decreasing the money supply

4 / 20

What is the term for the difference between a country's exports and imports of goods and services, including income from abroad?

Current account balance

Trade deficit

Capital account balance

Balance of payments

5 / 20

When the government reduces government spending to combat inflation, it is an example of:

Expansionary fiscal policy

Contractionary fiscal policy

Expansionary monetary policy

Contractionary monetary policy

6 / 20

The natural rate of unemployment is sometimes referred to as the:

Structural unemployment rate

Full employment rate

Cyclical unemployment rate

Frictional unemployment rate

7 / 20

Which of the following is an example of a lag in monetary policy?

The time it takes for consumers to adjust their spending in response to a change in interest rates

The time it takes for the stock market to react to economic news

The time it takes for the government to pass a new tax law

The time it takes for the central bank to change interest rates

8 / 20

Which of the following is a characteristic of the classical economic theory?

Prices and wages are flexible and will adjust to equate supply and demand.

Government intervention in the economy is necessary to achieve full employment.

Monetary policy is ineffective in influencing economic output.

Government spending should always be increased during a recession.

9 / 20

In the Solow growth model, what is the primary driver of long-term economic growth?

Population growth

Government spending

Monetary policy

Technological progress

10 / 20

What is the term for a sustained decrease in the general price level of goods and services in an economy?

Inflation

Stagflation

Disinflation

Deflation

11 / 20

Which of the following is a measure of the change in the price level of a basket of goods and services over time?

Interest rate

Exchange rate

Unemployment rate

inflation rate

12 / 20

Which of the following is a measure of the average level of prices of goods and services consumed by the typical household?

Retail Price Index (RPI)

GDP deflator

Producer Price Index (PPI)

Consumer Price Index (CPI)

13 / 20

Which of the following is a measure of the overall level of prices in an economy?

Unemployment rate

Balance of payments

GDP

CPI (Consumer Price Index)

14 / 20

What is the term for a sustained increase in the general price level of goods and services in an economy?

Inflation

Disinflation

Deflation

Stagflation

15 / 20

What is the term for the total value of all financial assets in an economy, excluding physical assets like real estate and cars?

Gross domestic product

Gross wealth

Gross national product

Net wealth

16 / 20

What is the term for the situation in which an economy is producing below its potential output?

Stagflation

Recession

Inflation

Full employment

17 / 20

Which of the following is a characteristic of the Keynesian economic theory?

Aggregate demand can fall short of aggregate supply, leading to recessions.

Government intervention in the economy is unnecessary.

Prices and wages are flexible and will adjust to equate supply and demand.

Monetary policy is the primary tool for stabilizing the economy.

18 / 20

Which of the following is a key component of the expenditure approach to calculating GDP?

Government transfer payments

Underground economy transactions

Gross private domestic investment

Personal saving

19 / 20

Which of the following is a measure of the total value of all income earned by residents of a country, including income earned abroad?

Gross National Product (GNP)

Net National Product (NNP)

Gross Domestic Product (GDP)

Net Domestic Product (NDP)

20 / 20

Which of the following is an example of a contractionary fiscal policy?

Raising interest rates

Decreasing government spending

Increasing government spending

Lowering taxes

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The average score is 39%

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Macroeconomics Quiz 3: Can You Score 10/10?

• What is the term for the situation in which an economy is producing below its potential output?
• Which of the following is a characteristic of the Keynesian economic theory?
• The natural rate of unemployment is sometimes referred to as the:
• Which of the following is an example of a contractionary monetary policy?
• What is the term for a sustained decrease in the general price level of goods and services in an economy?
• Which of the following is a measure of the change in the price level of a basket of goods and services over time
• When the government reduces government spending to combat inflation, it is an example of:
• What is the term for the total value of all financial assets in an economy, excluding physical assets like real estate and cars
• Which of the following is a measure of the average level of prices of goods and services consumed by the typical household?
• In the Solow growth model, what is the primary driver of long-term economic growth?
• What is the term for the percentage of the labor force that is unemployed and actively seeking employment?
• Which of the following is a key component of the expenditure approach to calculating GDP?
• Which of the following is an example of a disinflationary policy?
• Which of the following is a measure of the overall level of prices in an economy?
• Which of the following is a characteristic of the classical economic theory?
• What is the term for the difference between a country’s exports and imports of goods and services, including income from abroad?
• Which of the following is a measure of the total value of all income earned by residents of a country, including income earned abroad?
• Which of the following is an example of a contractionary fiscal policy?
• What is the term for a sustained increase in the general price level of goods and services in an economy?
• Which of the following is an example of a lag in monetary policy?

Online Generative AI MCQs

Prepare for your macroeconomics exams, job interviews, or viva with this 20-question MCQ Online Macroeconomics Quiz covering key concepts such as fiscal & monetary policy, GDP, inflation, interest rates, exchange rates, and more. The Economics Quiz is perfect for students and professionals looking to strengthen their understanding of macroeconomic principles. Let us start with the Online Macroeconomics Quiz now.

Topics Included: Government deficits, national debt, economic growth, monetary tools, stagflation, leading indicators, Federal Reserve functions, trade balance, and exchange rates.

/20

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Created by Muhammad Imdad Ullah

Online Macroeconomics Quiz 2

Online Macroeconomics Quiz with Answers

1 / 20

Which of the following is a function of the Federal Reserve in the United States?

Regulating international trade

Managing Social Security programs

Conducting monetary policy

Collecting taxes

2 / 20

What is the name for the total market value of all final goods and services produced within a country's borders in a given period of time?

Net National Product (NNP)

Gross National Product (GNP)

Net Domestic Product (NDP)

Gross Domestic Product (GDP)

3 / 20

What is the name for the interest rate at which the central bank lends money to commercial banks?

Prime rate

LIBOR (London Interbank Offered Rate)

Federal funds rate

Discount rate

4 / 20

What is the name for the interest rate that banks charge their most creditworthy customers?

Discount rate

LIBOR (London Interbank Offered Rate)

Federal funds rate

Prime rate

5 / 20

Which of the following is a measure of the average price level in an economy?

Interest rate

Exchange rate

Unemployment rate

Inflation rate

6 / 20

When the economy experiences a period of sustained economic growth, it is often referred to as

A recession

Stagflation

A depression

An expansion

7 / 20

The Fisher Effect describes the relationship between

Exchange rates and trade deficits

Interest rates and investment

Interest rates and inflation

Inflation and unemployment

8 / 20

When a country's currency depreciates, what happens to its exports and imports?

Exports increase, imports decrease

Both exports and imports decrease

Both exports and imports increase

Exports decrease, imports increase

9 / 20

What is the term for the situation in which an economy is producing at its maximum potential output?

Stagflation

Inflation

Full employment

Recession

10 / 20

What is the exchange rate determined by supply and demand in the foreign exchange market called?

Pegged exchange rate

Floating exchange rate

Managed exchange rate

Fixed exchange rate

11 / 20

Which of the following is an example of a leading economic indicator?

Consumer price inex (CPI)

New housing starts

Unemployment

GDP

12 / 20

Which of the following is a fiscal policy tool that involves government spending on infrastructure and public projects?

Discretionary spending

Automatic stabilizers

Monetary policy

Tax cuts

13 / 20

What is the term for the difference between a country's exports and imports?

Capital account balance

Balance of payments

Current account balance

Trade deficit

14 / 20

The foreign exchange market is primarily responsible for trading

Real estate

Stocks and bonds

Currencies

Commodities

15 / 20

Which of the following is not a tool of monetary policy?

Government spending

Reserve requirement

Discount rate

Open market operations

16 / 20

What is the term for a situation where the government's expenditures exceed its revenues in a given year?

Trade deficit

Budget surplus

Budget deficit

National debt

17 / 20

When the government reduces taxes to stimulate economic growth, it is an example of

Expansionary monetary policy

Expansionary fiscal policy

Contractionary monetary policy

Contractionary fiscal policy

18 / 20

Which of the following is an example of an expansionary monetary policy?

Selling government securities

Increasing the reserve requirement

Raising taxes

Lowering the federal funds rate

19 / 20

The term "stagflation" refers to a situation where there is

High inflation and high unemployment

Low inflation and low unemployment

Low inflation and high unemployment

High inflation and low unemployment

20 / 20

Which of the following best describes the concept of the national debt?

The total amount of money in circulation

The total value of a nation's assets

The total value of a nation's exports

The total amount of money owed by the government

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The average score is 56%

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Online Macroeconomics Quiz with Answers

• What is the term for a situation where the government’s expenditures exceed its revenues in a given year?
• When the economy experiences a period of sustained economic growth, it is often referred to as
• What is the name for the interest rate at which the central bank lends money to commercial banks?
• Which of the following best describes the concept of the national debt?
• Which of the following is a fiscal policy tool that involves government spending on infrastructure and public projects?
• What is the term for the situation in which an economy is producing at its maximum potential output?
• The Fisher Effect describes the relationship between
• Which of the following is a measure of the average price level in an economy?
• Which of the following is not a tool of monetary policy?
• When the government reduces taxes to stimulate economic growth, it is an example of
• What is the name for the total market value of all final goods and services produced within a country’s borders in a given period of time
• The term “stagflation” refers to a situation where there is
• Which of the following is an example of a leading economic indicator?
• What is the name for the interest rate that banks charge their most creditworthy customers?
• Which of the following is an example of an expansionary monetary policy?
• Which of the following is a function of the Federal Reserve in the United States?
• What is the term for the difference between a country’s exports and imports?
• When a country’s currency depreciates, what happens to its exports and imports?
• What is the exchange rate determined by supply and demand in the foreign exchange market called?
• The foreign exchange market is primarily responsible for trading

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