Page 11 - Macroeconomics. book docx_Neat

3. Which of the following is a macroeconomic variable? a) Price of one product b) Cost

of one firm c) National income d) Demand of one consumer

4. GDP measures: a) Individual income b) Firm profit c) Total production inside a

country d) Exports only

5. Inflation refers to: a) Increase in prices b) Decrease in prices

c) Increase in output d) Increase in employment

6. Unemployment means:

a) Increase in income b) People without jobs

c) Increase in production d) Increase in exports

7. Economic growth means:

a) Increase in prices b) Increase in unemployment

c) Increase in production and income d) Increase in taxes

8. Macroeconomics focuses on:

a) One market b) Individual decisions

c) Aggregate economic activity d) One consumer

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