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

1#

Identify from the list below which is not included in the calculation oi)0g8q0 qvme9ta:iq pz7 eb 1klgk 9f h*03qqxf the Human Develki 1 tipzv9qk 3h0bqql:ef0xq)7a*8gq09gem opment Index (HDI):

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 hypothetical complex and open economy.a)1pqld( a 31,rsvme z
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 fh4: il5 mct3ri:tc)n hollowing assumptions explains the persistence of recessionary gaps in the Keynesian model of aggrelc:) rmc3 :4ih5htnt igate 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 following will create a deflationary g -3ni, (j6 qsxtkkk *m3.gceekap, ceteris paribus.,e kgnek3 k*-kj(x ct3siq m6.
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 calculate the lqb(uao:2d dxq.l5y2 gross domestic product (GDP) of an economy using the expend5x2.lo ad2u ql qy(:bditure 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 not an adjustment made to gross domestic prodxf,8, u 9ea*paogdm-v4 8.i4yld th4x8w gvxduct (GDP) to allow for mduxga4y8* w,xo 9hit-d8 vdl8g,4eafpv. 4xmore accurate comparisons over time and between countries?

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 following changes will lead to both an increal 3+bi6f6el w:)ya ic,r3xzwuse in AD in the short-run and an increase in LRAS in the long-runb3yfi xi cru)lz3w ,6 :wlae6+.

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 prof7ho1azs7af b7 it tax and the currency da o 7zsa1b77hfepreciates. State the impact on aggregate demand (AD) and 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 pahlz06+ v (mwthe aggregate supply curve (AS) to shift to the left in the short ru+(l6 pzw0mvhan?

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 national income statisvi3did(d8 p e.tics 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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