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Тест: CLEP - Macro Economics

Описание теста:
The Subject Examination in Principles of Macroeconomics covers material usually taught in a one-semester undergraduate course in the principles of macroeconomics. This aspect of economics deals with principles of economics that apply to a total economic system, particularly the general levels of output and income and interrelations among sectors of the economy. The test places particular emphasis on the determinants of aggregate demand and on the monetary and fiscal policies that are appropriate to achieve particular policy objectives. Within this context, candidates are expected to understand concepts such as the multiplier, the accelerator, and balance-of-payments equilibrium; terms such as inflation, deflationary gap, and depreciation; and institutional arrangements such as open-market operations, deficit spending, and flexible exchange rates
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Which of the following does not refer to macroeconomics?

Which of the following statements is true?

A positive GDP gap exists when:

Suppose equilibrium output is y0 and the price level is p0 for an aggregate demand and a classical aggregate supply curve. An increase in government spending will result in:

Unanticipated inflation is harmful to

Personal income

Which of the following statements is false?

Suppose consumption is $10 million when disposable income is $10.5 million, and consumption is $10.5 million when disposable income is $11.5 million, the marginal propensity to consume is

When the MPC is 0.80 and the APC is 0.95, the MPS is

The saving function is

A recessionary gap exists when

Which of the following are leakages in circular flow?

When the marginal propensity to consume is 0.80, the value of the multiplier is

When aggregate supply is horizontal and the marginal propensity to consume is 0.50, a $10.00 increase in investment spending will result in

An inflationary gap can be eliminated by

Built-in stabilizers are

Money as a measure of value provides

When the banking system receives $400.00 in additional reserves and the reserve requirement is 0.20, maximum check writing deposit expansion is

Which of the following will occur as a result of an improvement in technology?

The United States government defines an individual as unemployed if the person


The diagram above shows two aggregate supply curves. Which of the following statements most accurately characterizes the AS1 curve relative to the AS2 curve?

Which of the following would increase the value of the multiplier?

Supply-side economists argue that

According to the monetarists, inflation is most often the result of

An increase in which of the following would cause the long-run aggregate supply curve to shift to the right?


An economy that is fully employing all of its productive resources but allocating less to investment than to consumption will be at which of the following positions on the production possibilities curve?

An increase in the price level from 200 in year 5 to 210 in year 6 indicates a _______ rate of inflation between years 5 and 6.

The word economic refers to something that

Increasing costs indicate that

The economic problem of for whom to produce refers to the decision of

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