Question : 11.In macroeconomics, which of the following topic would likely be : 1379050

11.In macroeconomics, which of the following topic would likely be studied?

A. Bob’s budget

B. Nike’s costs of production

C. The growth rate of the oil industry

D. All of these are microeconomic topics.

12.In macroeconomics, we talk about:

A. consumption at a national level.

B. production of all goods in the economy.

C. prices in the aggregate.

D. All of these are things macroeconomists talk about.

13.Everyone in an economy tends to do better when we experience:

A. high economic growth, low unemployment, and high inflation.

B. steady economic growth, low unemployment, and stable prices.

C. steady economic growth, high unemployment, and stable prices.

D. high economic growth, high unemployment, and low inflation.

14.The most commonly used metric for measuring the value of a national economy is:

A. gross domestic product, or GDP.

B. gross national product, or GNP.

C. gross national income, or GNI.

D. gross domestic income, or GDI.

15.GDP:

A. gives us a sense of the well-being of the average person in a country.

B. allows us to gauge the direction an economy is headed when we examine changes in GDP over time.

C. measures the value of a national economy.

D. All of these statements are true.

16.We can measure the status of a national economy by looking at:

A. its total expenditures.

B. its total income.

C. We can look at either of these things to get the same measure.

D. Neither of these is used to measure a nation’s economic status.

17.Gross domestic product is:

A. the sum of the market values of all final goods and services produced within a country in a given period of time.

B. the sum of the market values of all intermediate goods and services produced within a country in a given period of time.

C. the sum of all final goods and services produced by a country’s citizens in a given period of time.

D. the sum of the market values of all final goods and services produced by a country’s citizens in a given period of time.

18.GDP uses the market value of goods and services because:

A. it provides a common valuation that allows us to compare one economy to another.

B. it provides the opportunity to compare lists of outputs to see who produced more.

C. it is the only data that can be gathered about goods and services.

D. None of these statements is true.

19.GDP counts:

A. only final goods and services, because otherwise certain things would be double-counted and the GDP would be overestimated.

B. only intermediate goods and services, because those are easier to track.

C. both intermediate and final goods and services because it is important to capture all values, regardless of which market they take place in.

D. those values that are reported to the government.

20.Intermediate goods and services are:

A. used only as inputs to produce something else and are not counted in GDP.

B. goods that consumers buy in parts—like a new tire for their car—and are included in GDP.

C. used only as inputs to produce something else and are counted in GDP.

D. goods that consumers buy in parts—like a new tire for their car—and are not included in GDP.