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Macroeconomics Practice Test - 1: Introduction to Macroeconomic Analysis

##### Click on the correct option. Text colour will change into green if your chosen option is corret and if it is wrong, it will change into red:

- Macroeconomics is concerned with

- The level of output of goods and services

- The general level of prices

- The growth of real output

- All the above

- Real GDP increases

- When there is an increase in the price level

- When there is an increase in the output of goods and services

- When there is an increase in the population

- At a constant rate over time

- The equation C = $20 + 0.90 Yd predicts that consumption is

- $90 when disposable income is $100

- $100 when disposanle income is $90

- $110 when disposable income is $100

- $180 when disposable income is $200

- In the equation \(C = \overline C + cYd,\) the behavioral coefficient is

- \(\overline C \)

- \(Yd\)

- \(c\)

- all the above

- In the equatio \(C = \overline C + cYD,\,\,\overline C \)

- A parameter helping to determine the level of consumption

- A parameter whose value depends upon the level of disposable income

- A behavioral coefficient

- A dependent variable

- Cetris paribus means that

- Other factors are held constant

- No other variable affects the dependent variable

- No other model can explain the dependent variable

- The model is logical

- Which of the following statements is correct?

- A variable is endogeneous when its value id determined by forces outside the model

- A change in an exogeneous variable is classified as an autonomous change

- A variable is exogenous when its value is determined by forces within the model

- A variable is autonomous when its value is determined by forces within the model

- In stating chat C = f (Yd, W)

- It is hypothesized that Yd is a more important determinant of C than W

- It is hypothesized that W is a more important determinant of C than Yd W and Yd

- W and Yd are dependent variables explaining C

- Yd and W are independent variables explaining C

- In a market-clearing model

- The price level always exists at the intersection of aggregate supply and aggregate demand

- Output is determined by the intersection of aggregate supply and aggregate demand

- Shifts of aggregate demand or aggregate supply immediately change price and/or output

- All of the above

- In a disequilibrium model where the price level remains above the price level at which aggregate supply and aggregate demand intersect

- Output is determined by the aggregate supply curve

- Output is determined by the aggregate demand curve

- There is an output shortage

- There is an output surplus

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