Here are 15 multiple choice questions at the university level about macroeconomics:
General
1. What is macroeconomics?
o (A) The study of the overall economy, including its performance and behavior.
o (B) The study of individual economic actors, such as consumers and firms.
o (C) The study of how markets work and how prices are determined.
o (D) The study of how governments can manage the economy.
2. What are some of the key macroeconomic indicators?
o (A) GDP, unemployment rate, and inflation rate.
o (B) Interest rates, exchange rates, and consumer confidence.
o (C) Budget deficit, national debt, and trade balance.
o (D) All of the above.
3. What are the different types of macroeconomic policies?
o (A) Fiscal policy and monetary policy.
o (B) Supply-side policy and demand-side policy.
o (C) Short-term policy and long-term policy.
o (D) All of the above.
Economic Growth
4. What are the factors that drive economic growth?
o (A) Increase in population, increase in labor productivity, and increase in capital stock.
o (B) Technological innovation, institutional development, and trade liberalization.
o (C) Government investment, monetary policy, and fiscal policy.
o (D) All of the above.
5. What are the different theories of economic growth?
o (A) Classical growth theory, neoclassical growth theory, and endogenous growth theory.
o (B) Export-led growth theory, import-substitution growth theory, and balanced growth theory.
o (C) Growth accounting and productivity analysis.
o (D) All of the above.
Inflation
6. What is inflation?
o (A) A general increase in the prices of goods and services.
o (B) A decrease in the value of money.
o (C) A loss of purchasing power.
o (D) All of the above.
7. What are the different types of inflation?
o (A) Demand-pull inflation and cost-push inflation.
o (B) Built-in inflation and hyperinflation.
o (C) Core inflation and headline inflation.
o (D) All of the above.
8. What are the costs of inflation?
o (A) Erosion of purchasing power, redistribution of wealth, and uncertainty in the economy.
o (B) Menu costs, shoe-leather costs, and tax bracket creep.
o (C) Decline in investment and economic growth.
o (D) All of the above.
Unemployment
9. What is unemployment?
o (A) The state of being without a job and actively looking for work.
o (B) The percentage of the labor force that is unemployed.
o (C) The types of unemployment include frictional, structural, and cyclical unemployment.
o (D) All of the above.
10.What are the costs of unemployment?
o (A) Loss of income, psychological distress, and social unrest.
o (B) Decline in aggregate demand, economic growth, and tax revenue.
o (C) Increase in government spending on social welfare programs.
o (D) All of the above.
Challenge Questions
11.Discuss the different schools of thought in macroeconomics.
12.Explain the Phillips curve trade-off between inflation and unemployment.
13.Discuss the different models of macroeconomic forecasting.
14.Explain the challenges of conducting macroeconomic policy in an open economy.
15.Discuss the future of work and the macroeconomic implications of automation and artificial intelligence.
I hope these questions are helpful!
