MACRO TEST- Review 1 Question Preview (ID: 24931)


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A Broadway musical show had its final run, leaving all the actors unemployed.
a) Cyclical
b) Structural
c) Frictional
d) Seasonal

Apple builds a new factory.
a) Consumption
b) Investment
c) Government
d) Not included in GDP

At the end of the year, a flour millling firm finds that its inventories of grain and flour are $10,000 above the amounts of its inventories at the beginning of the year.
a) Consumption
b) Investment
c) Government
d)

Ford motor company buys new auto-making robots.
a) Consumption
b) Investment
c) Government
d) Not included in GDP

The United States Government does not have an active role in the Economy.
a) true
b) False
c)
d)

The business cycles highest point is _________ period.
a) Peak
b) Trough
c)
d)

The business cycles lowest point is the _________.
a) Peak
b) Trough
c)
d)

Gross Domestic Product is the only way the government monitors its performance.
a) True
b) False
c)
d)

A decrease in the GDP means _______.
a) we are going through a contraction period.
b) we are heading towards a peak.
c) making more and more stuff.
d)

Consumer Price Index does not impact my life by__________.
a) the electricity I use
b) what I eat
c) what games I play
d)

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