宏观考试1.pdf

Name: __________________________ Date: _____________ 1. A measure of how fast prices are rising is called the: A. growth rate of real GDP. B. inflation rate. C. unemployment rate. D. market-clearing rate. 2. Compared with a recession, real GDP during a depression: A. increases more rapidly. B. increases at approximately the same rate. C. decreases at approximately the same rate. D. decreases more severely. 3. Variables that a model tries to explain are called: A. endogenous. B. exogenous. C. market clearing. D. fixed. 4. The marginal product of labor is: A. output divided by labor input. B. additional output produced when one additional unit of labor is added. C. additional output produced when one additional unit of labor and one additional unit of capital are added. D. value of additional output when one dollars worth of additional labor is added. 5. A competitive, profit-maximizing firm hires labor until the: A. marginal product of labor equals the wage. B. price of output multiplied by the marginal product of labor equals the wage. C. real wage equals the real rental price of capital. D. wage equals the rental price of capital. 6. If the consumption function is given by C = 150 + 0.85Y and Y increases by 1 unit, then C increases by: A. 0.15 unit. B. 0.5 unit. C. 0.85 unit. D. 1 unit. 7. If the consumption function is given by C = 150 + 0.85Y and Y increases by 1 unit, then savings: A. decreases by 0.85 unit. B. decreases by 0.15 unit. C. increases by 0.15 unit. D. increases by 0.85 unit. 8. All of the following actions increase government purchases of goods and services except the: A. federal governments sending a Social Security check to Betty Jones. B. federal governments sending a paycheck to the president of the United States. C. federal gover