Question :
81.RefertoTable23-7.From1975to1976,
a.inflationwas25%andoutputdidnotgrow.
b.inflationwas25%andoutputgrew.
c.inflationwas50%andoutputdidnotgrow.
d.inflationwas : 1261659
81.RefertoTable23-7.From1975to1976,
a.inflationwas25%andoutputdidnotgrow.
b.inflationwas25%andoutputgrew.
c.inflationwas50%andoutputdidnotgrow.
d.inflationwas50%andoutputgrew.
82.RefertoTable23-7.From1976to1977,
a.inflationwas33.3%andoutputgrewatarateof20%.
b.inflationwas33.3%andoutputgrewatarateof60%.
c.inflationwas50%andoutputgrewatarateof20%.
d.inflationwas50%andoutputgrewatarateof60%.
Table23-8
Acountryproducesonlymeatandpotatoesinthequantitiesandpriceslistedbelow.Use2011asthebaseyear.
Year
Price of Potatoes
Quantity of Potatoes
Price of Meat
Quantity of Meat
2011
$2.00
10
$20
6
2012
$2.50
15
$22
7
2013
$3.50
20
$25
8
83.RefertoTable23-8.In2012,nominalGDPis
a.$191.50,andrealGDPis$170.
b.$157,andrealGDPis$170.
c.$191.50,andrealGDPis$157.
d.$170,andrealGDPis$227.50.
84.RefertoTable23-8.In2012,GDPdeflatoris
a.122.
b.134.
c.92.
d.113.
Table23-9
Acountryproducesonlyicecreamandpie.Quantitiesandpricesofthesegoodsforthelastseveralyearsareshownbelow.Thebaseyearis2008.
Prices and Quantities
Year
Price of Ice Cream
Quantity of Ice Cream
Price of Pie
Quantity of
Pie
2008
$2.50
40
$5.00
20
2009
$3.00
50
$6.00
25
2010
$4.00
40
$6.00
30
85.RefertoTable23-9.In2009,thiscountry’s
a.realGDPwas$250,andtheGDPdeflatorwas125.
b.realGDPwas$250,andtheGDPdeflatorwas120.
c.realGDPwas$240,andtheGDPdeflatorwas125.
d.realGDPwas$240,andtheGDPdeflatorwas120.
86.RefertoTable23-9.Thiscountry’sinflationratefrom2009to2010tothenearesttenthwas
a.2.9%
b.8.8%
c.13.3%
d.Noneoftheaboveiscorrect.
87.WhichofthefollowingisnotacorrectstatementaboutthegrowthofrealGDPintheU.S.economy?
a.RealGDPin2009wasalmostfourtimesits1965level.
b.Growthwassteadybetween1965and2009.
c.ContinuedgrowthinrealGDPenablesthetypicalAmericantoenjoygreatereconomicprosperitythanhisorherparentsandgrandparentsdid.
d.Theoutputofgoodsandservicesproducedgrewonaverageabout3percentperyearbetween1965and2009.
88.Arecessionhastraditionallybeendefinedasaperiodduringwhich
a.nominalGDPdeclinesfortwoconsecutivequarters.
b.nominalGDPdeclinesforfourconsecutivequarters.
c.realGDPdeclinesfortwoconsecutivequarters.
d.realGDPdeclinesforfourconsecutivequarters.
89.Recessionsarenotassociatedwithwhichofthefollowing?
a.increasedbankruptcies
b.fallingprofits
c.fallingincomes
d.fallingunemployment
90.Arecessionisalwaysassociatedwith
a.theendofawar.
b.slowlygrowingrealGDP.
c.risinginflation.
d.decliningrealGDP.
91.Muchofmacroeconomicsattemptstoexplain
a.changesinthepriceofoilandgasoline.
b.long-rungrowthandshort-runfluctuationsinrealGDP.
c.changesinthegrowthrateofstategovernmentspending.
d.changesinthepricesandquantitiesofindividualgoodsandservices.
92.Whichofthefollowingstatementsaboutrecessionsistrue?
a.AnoldruleofthumbdefiningrecessionistwoconsecutivequartersoffallingnominalGDP.
b.Recessionsoccuratregularintervalsandlaststandardamountsoftime.
c.Thereisnoironcladruleforthedeclarationofrecessions.
d.Recessionsareassociatedwithlowunemploymentandhighincome.