Chapter 23 Measuring a Nation's Income
MULTIPLE CHOICE
1、 Macroeconomists study
a、 the decisions of individual households and firms、 b、 the interaction between households and firms、 c、 economy-wide phenomena、
d、 regulations imposed on firms and unions、 ANS: C DIF: 1 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Definitional
2、 Which of the following newspaper headlines is more closely related to what mi-croeconomists study than to what macroeconomists study?
a、 Unemployment rate rises from 5 percent to 5、5 percent、 b、 Real GDP grows by 3、1 percent in the third quarter、 c、 Retail sales at stores show large gains、
d、 The price of oranges rises after an early frost、 ANS: D DIF: 2 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive
3、 Which of the following questions is more likely to be studied by a microeconomist
than a macroeconomist?
a、 Why do prices in general rise by more in some countries than in others? b、 Why do wages differ across industries?
c、 Why do national production and income increase in some periods and not in others? d、 How rapidly is GDP currently increasing? ANS: B DIF: 2 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive
4、 Which of the following topics are more likely to be studied by a macroeconomist than
by a microeconomist?
a、 the effect of taxes on the prices of airline tickets, and the profitability of
automobile-manufacturing firms
b、 the price of beef, and wage differences between genders
c、 how consumers maximize utility, and how prices are established in markets for
agricultural products
d、 the percentage of the labor force that is out of work, and differences in average
income from country to country
ANS: D DIF: 2 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive
5、 We would expect a macroeconomist, as opposed to a microeconomist, to be particularly
interested in
a、 explaining how economic changes affect prices of particular goods、
b、 devising policies to deal with market failures such as externalities and market
power、
c、 devising policies to promote low inflation、 d、 identifying those markets that are competitive and those that are not competitive、 ANS: C DIF: 2 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive
6、 Which of the following is not a question that macroeconomists address?
a、 Why is average income high in some countries while it is low in others? b、 Why does the price of oil rise when war erupts in the Middle East?
c、 Why do production and employment expand in some years and contract in others? d、 Why do prices rise rapidly in some periods of time while they are more stable in
other periods?
ANS: B DIF: 2 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive
7、 The basic tools of supply and demand are
a、 useful only in the analysis of economic behavior in individual markets、
b、 useful in analyzing the overall economy, but not in analyzing individual markets、 c、 central to microeconomic analysis, but seldom used in macroeconomic analysis、 d、 central to macroeconomic analysis as well as to microeconomic analysis、 ANS: D DIF: 1 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Supply and demand
MSC: Definitional
8、 Which of the following statistics is usually regarded as the best single measure
of a society’s economic well-being? a、 the unemployment rate b、 the inflation rate
c、 gross domestic product d、 the trade deficit ANS: C DIF: 1 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: GDP MSC: Definitional
9、 GDP
a、 is used to monitor the performance of the overall economy but is not the single
best measure of a society’s economic well-being、
b、 is used to monitor the performance of the overall economy and is the single best
measure of a society’s economic well-being、
c、 is not used to monitor the performance of the overall economy but is the single
best measure of a society’s economic well-being、
d、 is not used to monitor the performance of the overall economy and is not the single
best measure of a society’s economic well-being、
ANS: B DIF: 1 REF: 10-0 NAT: Analytic LOC: The study of economics and definitions in economics TOP: GDP MSC: Definitional
THE ECONOMY'S INCOME AND EXPENDITURE
1、 Gross domestic product measures
a、 income and expenditures、 b、 income but not expenditures、 c、 expenditures but not income、 d、 neither income nor expenditures、 ANS: A DIF: 2 REF: 10-1 NAT: Analytic LOC: The study of economics and definitions in economics TOP: GDP MSC: Interpretive
2、 Expenditures on a nation’s domestic production
a、 are less than its domestic production、 b、 are equal to its domestic production、
c、 are greater than its domestic production、
d、 could be less than, equal to, or greater than its domestic production、 ANS: B DIF: 1 REF: 10-1 NAT: Analytic LOC: The study of economics and definitions in economics TOP: GDP MSC: Definitional
3、 Income generated by a nation’s domestic production
a、 is less than its domestic production、 b、 is equal to its domestic production、 c、 is greater than its domestic production、
d、 could be less than, equal to, or greater than its domestic production、 ANS: B DIF: 1 REF: 10-1 NAT: Analytic LOC: The study of economics and definitions in economics TOP: GDP MSC: Definitional
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