IB Economics Unit 3.1: Macroeconomics - Economic Output, AD & AS

1#

Identify from the list below which is not included in the cal)v-,yy ;fwubg p/.5m)xg ahzwculation of the Human Development Index (HDI):maygf,hg.wx; uz5v)wb)- /p y

A. number of hospital beds per 1 000 people

B. gross national income per capita (PPP)

C. mean years of schooling

D. life expectancy at birth

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2#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Assume a hypotheticalxen1h caei));c)(q hc +buw, z complex and open economy.
From the following list, identify the leakages from the economy's circular flow of income:
I. Taxes
II.Export revenue
III. Saving

A. I only

B. I and III only

C. I, II, and III

D. II and III only

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3#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the fol6pydu;x7y* aylowing assumptions explains the persistence of recessionary gaps in the Keynesian model of aggregpxu yay67*dy;ate supply.

A. There is a short-run equilibrium and a long-run equilibrium

B. Costs of production will eventually fall

C. The economy will eventually return to full employment

D. Wages are downwardly inflexible and will not fall

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4#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the foll;9z9mn 5fazehfa(2/:dut v soms8 f,nowing will create a deflationary gap, ceteris paribus. h f :/8a s(2d5fmzuo9s;mnfet a,9vzn
I.Fall in consumer confidence
II. Fall in interest rates
III.Rise in taxes on corporate profits

A. I only

B. II only

C. I and III only

D. II and III only

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5#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following can be used to calculamljder )u*i s,l5,8 21cmitzxte the gross domestic product (GDP) of tsl ci8 e5m 2xiz ud*lm)j1,r,an economy using the expenditure approach?

A. Consumption spending +investment spending +saving +taxes +import spending− export revenue

B. Consumption spending +investment spending +government spending +import spending− export revenue

C. Consumption spending+investment spending+government spending+ export revenue−import spending

D. Investment spending + taxes+government spending+ import spending − saving

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6#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following is notu+sn .xgdapp9gd0wqptv 2b 6v :;f ,e: an adjustment made to gross domestic product (GDP) to allow for more accurate comparisons over time and between countries6 pn2 gge s xdvv+wqfd;ap9b0,p:.tu: ?

A. Adjustment for inflation

B. Adjustment for nationality

C. Adjustment for population size

D. Adjustments for income inequality

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7#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the following is most likely to have caused the shift from $AD_1$to $AD_2$ in the diagram above
I. Expectations of future decrease in the average price level
II.Decrease in interest rates
III. Increase in income taxes
IV.Increase in income of trading partners

A. I only

B. II only

C. II and III only

D. II and IV only

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8#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the following will cause the shift from $SRAS_1$ to $SRAS_2$ in the diagram above
I. Increase in interest rates
II. Lower consumer confidence
III. Increase in costs of factors of production
IV.Increase in indirect taxes

A. I and II only

B. I and III only

C. II and IV only

D. III and IV only

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9#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

An economy experiences a change as shown in the diagram above. Identify the resulting effects on the economy’s price level and unemployment rate.

A. Price level is rises,Unemployment rate is falls

B. Price level is falls,Unemployment rate is rises

C. Price level is rises,Unemployment rate is rises

D. Price level is falls,Unemployment rate is falls

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10#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the following is most likely to have caused the shift from $LRAS_1$ to $LRAS_2$ in the diagram above.
I. Improvements in technology
II. Increase in immigration
III.Decrease in costs of factors of production ($FOP_S$)
IV. Decrease in indirect taxes

A. I and II only

B. I and III only

C. II and IV only

D. III and IV only

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11#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the followi1 fqw7feod6*ki-j6 glng changes will lead to both an increase in AD in the short-run and ji-*1f 7lo 6fw6q dgkean increase in LRAS in the long-run.

A. Rise in consumer confidence

B. Fall in interest rates

C. Rise in income of trading partners

D. Depreciation of the country’s currency

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12#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Comment on the state of the economy at point A in the diagram above.

A. It is neither in short-run nor in long-run equilibrium

B. It is in short-run equilibrium only

C. It is in long-run equilibrium only

D. It is in both short-run and long-run equilibrium

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13#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Following a decrease in AD to $AD_1$ , identify whether this economy is experiencing an inflationary or recessionary gap at point
A, and what will occur in the long run.

A. Type of gap is Inflationary,Long-run outcome is Unemployment falls

B. Type of gap is Recessionary ,Long-run outcome is Unemployment rises

C. Type of gap is Inflationary,Long-run outcome is Unemployment rises

D. Type of gap is Recessionary ,Long-run outcome is Unemployment falls

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14#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

In the new classical model the economy is in equilibrium at point W. Suppose consumers become optimistic about the performance of the economy. Identify the short-run and long-run equilibrium points in the diagram.

A. Short Run is W,Long Run is X

B. Short Run is W,Long Run is Z

C. Short Run is X,Long Run is Y

D. Short Run is X,Long Run is Z

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15#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

An increase in aggregate demand from AD to $AD_1$ does not change the average price level (PL) because

A. there is spare capacity

B. the economy is operating at low levels of national income

C. the government budget deficit increases

D. the level of consumer debt is high

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16#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

In the new classical model, AD increases to $AD_1$and the economy reaches a short-run equilibrium at point X.
Identify the long-run equilibrium point in the diagram and what causes the economy to adjust to this position.

A. Long Run is Y,Cause of adjustment is Workers accept lower wages

B. Long Run is W,Cause of adjustment is Workers accept higher wages

C. Long Run is W,Cause of adjustment is Workers demand higher wages

D. Long Run is Y,Cause of adjustment is Workers demand higher wages

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17#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify the true statements about the increase in AD (AD to $AD_1$):
I.There will be an increase in the average price level
II.The level of output will not increase
III.There will be a drop in unemployment

A. I only

B. I and II only

C. I and III only

D. III only

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18#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

In an open economy, the government reduces corporate profit tax and thotwe*p+ ty81 8 rexv9ie currency depreciates. State the impact on aggregate demand (AD) anyw ttei8r1+e x o8*pv9d long-run aggregate supply (LRAS)

A. AD is Increases,LRAS is Increases

B. AD is Increases,LRAS is No Change

C. AD is Increases,LRAS is Decreases

D. AD is No Change,LRAS is Increases

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19#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following will not cause the aggregate supply curvegibu(ki a*g2 b+g2 +do (AS) to shift to the lefg2+2g id uo+i(* abgbkt in the short run?

A. An increase in corporate tax

B. A fire destroying oil production capacity

C. An increase in excise duties by the government

D. A shortage of raw materials

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20#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Assume the following njkup ;o) zqmervu1(di2 7.3 qnational income statistics for a hypothetical economy:

National Incom Statistic	Value
Consumption expenditure	$\$$70 billion
Investment expenditure	$\$$20 billion
Government expenditure	$\$$15 billion
Export revenue	$\$$40 billion
Import expenditure	$\$$30 billion
Net property income from abroad	-$\$$10 billion
Rents	$\$$35 billion
Wages	$\$$57 billion
Population	$\$$15 billion

Which of the following are the correct calculations for Gross Domestic Product (GDP), Gross National Income (GNI), and GDP per capita?

A. GDP is $\$$125 billion,GNI is $\$$135 billion,GDP per capita is $\$$23 000

B. GDP is $\$$115 billion,GNI is $\$$105 billion,GDP per capita is $\$$3 0000

C. GDP is $\$$130 billion,GNI is $\$$120 billion,GDP per capita is $\$$30 000

D. GDP is $\$$115 billion,GNI is $\$$105 billion,GDP per capita is $\$$23 000

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