Economics

Test your macroeconomics knowledge with this intermediate-level quiz! This Online Macroeconomics MCQs quiz covers key concepts like GDP limitations, fiscal policy, unemployment types, the Phillips Curve, and more. Challenge yourself with questions on aggregate demand, monetary policy, automatic stabilizers, and the multiplier effect. Ideal for exam prep or brushing up on essential macroeconomics topics! Perfect for bachelor’s students and economics enthusiasts. Let us start with the Online Macroeconomics MCQs Test now.

0 votes, 0 avg

Created by Muhammad Imdad Ullah

Online Macroeconomics MCQs 1

Online Macroeconomics MCQs for intermediate and Bachelor classes

1 / 20

Which of the following is not considered a component of GDP?

Exports

Stock investments

Government spending

Imports

2 / 20

Which of the following is considered a tool of fiscal policy?

Taxation

Open market operations

Reserve requirement

Discount rate

3 / 20

Which of the following is true about the federal budget deficit?

It always leads to inflation

It occurs when government expenditures are greater than tax revenues

It has no impact on the economy

It occurs when tax revenues are greater than government expenditures

4 / 20

In the aggregate expenditure model, what does "C" represent?

Investment

Net exports

Consumption

Government spending

5 / 20

The natural rate of unemployment includes

Seasonal and frictional unemployment

Inflationary and cyclical unemployment

Frictional and structural unemployment

Cyclical and seasonal unemployment

6 / 20

What does the Laffer Curve illustrate?

The relationship between interest rates and investment

The relationship between exports and imports

The relationship between inflation and unemployment

The relationship between tax rates and government revenue

7 / 20

What does the Phillips Curve depict?

The relationship between inflation and unemployment

The relationship between consumer spending and savings

The relationship between GDP and interest rates

The relationship between government spending and tax revenue

8 / 20

Which of the following is not a function of money?

All of the above are functions of money

Store of value

Medium of exchange

Unit of account

9 / 20

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

Decreasing the money supply

Unemployment benefits

Tax cuts during a recession

Discretionary government spending

10 / 20

What is the interest rate at which banks lend money to each other overnight called?

Discount rate

Prime rate

LIBOR (London Interbank Offered Rate)

Federal funds rate

11 / 20

What is the name for the total value of all financial assets in an economy?

M1

M2

Financial wealth

GDP

12 / 20

When the central bank sells government securities, it

Reduces the reserve requirement

Decreases the money supply

Increases the money supply

Has no effect on the money supply

13 / 20

Which of the following is not a determinant of consumption in the Keynesian consumption function?

Disposable income

Consumer expectations

Interest rates

Government spending

14 / 20

Which of the following is a limitation of GDP as a measure of economic well-being?

It does not include non-market activities

It does not consider income distribution

All of these

It does not account for changes in the price level

15 / 20

If the government increases taxes to reduce inflation, it is an example of

Expansionary fiscal policy

Contractionary monetary policy

Expansionary monetary policy

Contractionary fiscal policy

16 / 20

What is the formula for calculating GDP using the expenditure approach?

GDP = C + I - G + X

GDP = C + I + G + (X - M)

GDP = C + I + G + X

GDP = C + I + G

17 / 20

Which of the following is not a type of unemployment?

Inflationary unemployment

Seasonal unemployment

Structural unemployment

Frictional unemployment

18 / 20

When aggregate demand exceeds aggregate supply, it leads to:

Deflation

Recession

Inflation

Stagflation

19 / 20

What is the formula for calculating the marginal propensity to consume (MPC)?

Total consumption / Total income

Change in consumption / Change in income

Change in income / Change in consumption

Total income / Total consumption

20 / 20

The multiplier effect measures the impact of changes in ------------ on overall economic output.

All of these

Consumer spending

Government spending

Investment

Your score is

The average score is 58%

0%

Restart quiz

Online Macroeconomics MCQs 1

• Which of the following is a limitation of GDP as a measure of economic well-being?
• What is the name for the total value of all financial assets in an economy?
• Which of the following is true about the federal budget deficit?
• What does the Laffer Curve illustrate?
• The natural rate of unemployment includes
• Which of the following is not a type of unemployment?
• What does the Phillips Curve depict?
• Which of the following is an example of an automatic stabilizer in fiscal policy?
• When the central bank sells government securities, it
• What is the interest rate at which banks lend money to each other overnight called?
• Which of the following is not a function of money?
• If the government increases taxes to reduce inflation, it is an example of
• Which of the following is considered a tool of fiscal policy?
• When aggregate demand exceeds aggregate supply, it leads to:
• What is the formula for calculating the marginal propensity to consume (MPC)?
• The multiplier effect measures the impact of changes in ———— on overall economic output.
• Which of the following is not a determinant of consumption in the Keynesian consumption function?
• In the aggregate expenditure model, what does “C” represent?
• What is the formula for calculating GDP using the expenditure approach?
• Which of the following is not considered a component of GDP?

Try Online Probability Distributions Quiz

Online Quiz about the subject of Microeconomics Basics Quiz MCQs. There are 20 MCQs in each quiz. This quiz will help you prepare Economics and Microeconomics Basics Quiz MCQs for Lecturer & Subject Specialist Exams. Answer the following multiple-choice questions and press ‘Submit‘ to get your score. Click the link below to start with the Intermediate Microeconomics Basics Quiz.

Online Microeconomics Basics Quiz with Answers

1. Which of the following is NOT a characteristic of a pure monopoly market structure?

 Barriers to entry

 Many firms selling identical products

 Price taker behavior

 A single firm dominating the market

2. What is the formula for calculating the price elasticity of demand (PED)?

 PED = (Initial Price) / (Final Price)

 PED = (Initial Quantity Demanded) / (Final Quantity Demanded)

 PED = (% Change in Quantity Demanded) / (% Change in Price)

 PED = (% Change in Price) / (% Change in Quantity Demanded)

3. What is the formula for calculating producer surplus?

 Producer Surplus = Total Revenue × Total Cost

 Producer Surplus = 0

 Producer Surplus = Total Cost – Total Revenue

 Producer Surplus = Total Revenue – Total Cost

4. Which of the following is a characteristic of a public good?

 High price

 Rivalry in consumption

 Excludability

 Non-excludability

5. What is the formula for calculating economic rent?

 Economic Rent = Total Revenue – Total Cost

 Economic Rent = Total Cost – Total Revenue

 Economic Rent = Total Revenue / Total Cost

 Economic Rent = Total Revenue × Total Cost

6. What is the formula for calculating producer surplus?

 Producer Surplus = Total Cost – Total Revenue

 Producer Surplus = Total Revenue – Total Cost

 Producer Surplus = Total Revenue × Total Cost

 Producer Surplus = 0

7. What is the formula for calculating price elasticity of supply (PES)?

 PES = (Initial Price) / (Final Price)

 PES = (% Change in Quantity Supplied) / (% Change in Price)

 PES = (Initial Quantity Supplied) / (Final Quantity Supplied)

 PES = (% Change in Price) / (% Change in Quantity Supplied)

8. What is the formula for calculating the price elasticity of supply (PES)?

 PES = (Initial Quantity Supplied) / (Final Quantity Supplied)

 PES = (% Change in Quantity Supplied) / (% Change in Price)

 PES = (Initial Price) / (Final Price)

 PES = (% Change in Price) / (% Change in Quantity Supplied)

9. Which of the following is a characteristic of a competitive firm in the short run?

 Monopolistic behavior

 High barriers to entry

 Supernormal profits

 Price taker behavior

10. Which of the following is a characteristic of a natural monopoly?

 Many firms competing in the market

 Low production costs

 High barriers to entry

 Perfect competition

11. Which of the following is a characteristic of a natural monopoly?

 Low production costs

 Perfect competition

 High barriers to entry

 Many firms competing in the market

12. What is the formula for calculating average product (AP)? https://itfeature.com

 AP = Change in Total Output / Change in Labor Input

 AP = Total Output × Total Labor Input

 AP = Total Output / Total Labor Input

 AP = Total Output / Total Cost

13. What is the formula for calculating economic surplus?

 Economic Surplus = 0

 Economic Surplus = Total Revenue – Total Cost

 Economic Surplus = Total Cost – Total Revenue

 Economic Surplus = Total Revenue × Total Cost

14. What is the formula for calculating marginal revenue (MR)?

 MR = Total Revenue / Quantity

 MR = Change in Total Revenue / Change in Quantity

 MR = Total Cost / Quantity

 MR = Average Total Revenue / Quantity

15. In economics, what is the “production function”?

 A function that measures the demand for a product

 A function that calculates consumer surplus

 A function that determines the market price of a product

 A function that describes the relationship between inputs and outputs in production

16. Which of the following is a characteristic of a natural monopoly?

 Many firms competing in the market

 Low production costs

 Perfect competition

 High barriers to entry

17. Which of the following is a characteristic of a perfectly elastic demand curve?

 It is horizontal

 It is downward-sloping

 It is upward-sloping

 It is vertical

18. Which of the following is NOT a characteristic of perfect competition?

 A small number of dominant firms

 Product differentiation

 High barriers to entry

 Price taker behavior

19. What is the formula for calculating total revenue (TR)?

 TR = Price / Quantity

 TR = Price × Quantity

 TR = Quantity – Price

 TR = Quantity / Price

20. Which of the following is NOT a characteristic of a monopolistic competitive market structure?

 A single firm dominating the market

 Perfect information among consumers

 Product differentiation

 Many firms selling identical products

 Loading …

Online Microeconomics Basics Quiz with Answers

• What is the formula for calculating average product (AP)?
• Which of the following is a characteristic of a public good?
• What is the formula for calculating price elasticity of supply (PES)?
• Which of the following is a characteristic of a natural monopoly?
• What is the formula for calculating producer surplus?
• Which of the following is NOT a characteristic of a pure monopoly market structure?
• What is the formula for calculating the price elasticity of supply (PES)?
• Which of the following is a characteristic of a natural monopoly?
• What is the formula for calculating producer surplus?
• What is the formula for calculating economic rent?
• Which of the following is a characteristic of a perfectly elastic demand curve?
• What is the formula for calculating economic surplus?
• Which of the following is NOT a characteristic of a monopolistic competitive market structure?
• What is the formula for calculating marginal revenue (MR)?
• Which of the following is a characteristic of a competitive firm in the short run?
• What is the formula for calculating the price elasticity of demand (PED)?
• Which of the following is a characteristic of a natural monopoly?
• What is the formula for calculating total revenue (TR)?
• In economics, what is the “production function”?
• Which of the following is NOT a characteristic of perfect competition?

Computer MCQs Online Test

R Language and Data Analysis

Online Quiz about the subject of Intermediate Microeconomics MCQs. There are 20 MCQs in each quiz. These quizzes will help you prepare Economics and Microeconomics MCQs for Lecturer & Subject Specialist Exams. Answer the following multiple-choice questions and press ‘Submit‘ to get your score. Click the link below to start with the Intermediate Microeconomics Quiz.

Please go to Intermediate Microeconomics MCQs 4 to view the test

Intermediate Microeconomics MCQs

• In economics, what does the term “economic rent” refer to?
• Which of the following is an example of a non-excludable good?
• What is the formula for calculating total revenue (TR)?
• Which of the following is a characteristic of a pure monopoly market structure?
• What is the formula for calculating the elasticity of supply?
• Which of the following is a characteristic of a competitive firm in the short run?
• What is the formula for calculating the price elasticity of demand (PED)?
• Which of the following is a characteristic of a natural monopoly?
• What is the primary determinant of the level of profit a firm can earn in the short run?
• What is a “patent” in economics?
• Which of the following is NOT a characteristic of a pure monopoly market structure?
• What is the formula for calculating total variable cost (TVC)?
• In economics, what does the term “perfectly elastic demand” mean?
• Which of the following is an example of a non-rivalrous good?
• What is the formula for calculating the cross-price elasticity of demand (XED) between two goods A and B?
• Which of the following is a characteristic of a perfect competition market structure?
• What is the primary determinant of the elasticity of demand for a good?
• Which of the following is an example of a private good?
• What is the formula for calculating marginal product (MP)?
• Which of the following is a characteristic of a perfectly competitive market in the short run?

Statistics and Data Analysis

MCQs Economics