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Chapter 25 Multiple Choice Questions
Return to Foundations of Economics 5e Student Resources
Chapter 25 Multiple Choice Questions
Unemployment
Quiz Content
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not completed
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Economic growth can be measured by:
The CPI
correct
incorrect
The CBI
correct
incorrect
GDP
correct
incorrect
MPC
correct
incorrect
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not completed
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In a boom:
Unemployment is likely to fall
correct
incorrect
Prices are likely to fall
correct
incorrect
Demand is likely to fall
correct
incorrect
Imports are likely to fall
correct
incorrect
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not completed
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In a recession, GDP:
Grows negatively
correct
incorrect
Grows slowly
correct
incorrect
Grows by 0%
correct
incorrect
Grows rapidly
correct
incorrect
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To boost economic growth the government is most likely to:
Increase interest rates
correct
incorrect
Increase taxation rates
correct
incorrect
Provide incentives to invest
correct
incorrect
Provide incentives to save
correct
incorrect
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not completed
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A government is most likely to use a reflationary policy:
In a recession
correct
incorrect
In a boom
correct
incorrect
When there is fast GDP growth
correct
incorrect
When prices are increasing fast
correct
incorrect
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Potential growth measures:
The growth of the fastest economy in the world
correct
incorrect
The fastest growth an economy has ever achieved
correct
incorrect
The present rate of growth of an economy
correct
incorrect
The rate of growth that could be achieved if resources were fully employed
correct
incorrect
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Economic growth can be seen by an outward shift of:
The Production Possibility Frontier
correct
incorrect
The Gross Domestic Barrier
correct
incorrect
The Marginal Consumption Frontier
correct
incorrect
The Minimum Efficient Scale
correct
incorrect
*
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The socially optimal rate of growth is:
Zero
correct
incorrect
Negative
correct
incorrect
Where the marginal social benefit = the marginal social cost
correct
incorrect
Total social costs are minimized
correct
incorrect
*
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To anticipate what the economy is going to do next the government will look at:
Lagging indicators
correct
incorrect
Flashing indicators
correct
incorrect
Coincidental indicators
correct
incorrect
Leading indicators
correct
incorrect
*
not completed
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The output gap is:
The difference between this year's and last year's output
correct
incorrect
The difference between this year's and next year's output
correct
incorrect
The difference between actual and potential output
correct
incorrect
The difference between actual and expected outputs
correct
incorrect
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