Macroeconomics (Grade 7)
Print Test
(Only the test content will print)
Name: | Date: |
---|
Macroeconomics
1.
What are the three main areas of macroeconomics?
2.
Output is all of what a country produces in a period of time.
- True
- False
3.
The value in money in the output of goods and services of a country is called what?
- gross domestic product
- purchasing power parity
- gross national income
- gross national product
4.
A drop in output is called a recession.
- True
- False
5.
Which of the following is not true about the unemployment rate?
- It does not count the retired.
- It does not include students.
- It does not include the disabled.
- It does not include people actively seeking work.
6.
A rise in output usually causes a drop in unemployment.
- True
- False
7.
Price increases over time is called what?
8.
What is deflation?
9.
Price indices are used to measure the amount of money in the economy at a given point in time.
- True
- False
10.
The aggregate demand–aggregate supply model is based on the work of which economist?
- Adam Smith
- John Maynard Keynes
- Alfred Marshel
- John Stewart Mill
11.
According to the aggregate demand–aggregate supply model, lower prices should lead to higher demand.
- True
- False
12.
The investment–saving/liquidity preference–money supply model can be used to show the amount of demand for goods at different price levels.
- True
- False
13.
A central bank can use quantitative easing to take money out of the market if needed.
- True
- False
14.
A government using tools such as taxes and debt to help control the economy is called policy.
You need to be a HelpTeaching.com member to access free printables.
Already a member? Log in for access. | Go Back To Previous Page
Already a member? Log in for access. | Go Back To Previous Page