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1、980Chapter 23Measuring a Nations IncomeMultiple Choice1. Macroeconomists studya. decisions of households and firms.b. the interaction of households and firms.c. economy-wide phenomena.d. regulations on firms and unions.ANS: C PTS: 1 DIF: 1 REF: 23-0TOP: Economists MSC: Definitional2. Which of the fo
2、llowing newspaper headlines would be more closely related to what microeconomists study than to what macroeconomists study?a. Unemployment rate rises from 5 percent to 5.5 percent.b. Real GDP grows by 3.1 percent in the third quarter.c. Retail sales at stores show large gains.d. The price of oranges
3、 rises after an early frost.ANS: D PTS: 1 DIF: 1 REF: 23-0TOP: Economists MSC: Interpretive3. Statistics that are of particular interest to macroeconomistsa. are widely reported by the media.b. are largely ignored by the media.c. include the equilibrium prices of individual goods and services.d. do
4、not include statistics for countries outside of North America.ANS: A PTS: 1 DIF: 1 REF: 23-0TOP: Economists MSC: Definitional4. Which of the following questions is more likely to be studied by a microeconomist than a macroeconomist?a. Why do prices in general rise by more in some countries than in o
5、thers?b. Why do wages differ across industries?c. Why do production and income increase in some periods and not in others?d. How rapidly is GDP currently increasing?ANS: B PTS: 1 DIF: 1 REF: 23-0TOP: Economists MSC: Interpretive5. Which of the following topics are more likely to be studied by a macr
6、oeconomist than by a microeconomist?a. the effect of taxes on the prices of airline tickets, the profitability of automobile-manufacturing firms, and employment trends in the food-service industryb. the price of beef, wage differences between genders, and antitrust lawsc. how consumers maximize util
7、ity, and how prices are established in markets for agricultural productsd. the percentage of the labor force that is out of work, and differences in average income from country to countryANS: D PTS: 1 DIF: 1 REF: 23-0TOP: Economists MSC: Interpretive6. We would expect a macroeconomist, as opposed to
8、 a microeconomist, to be particularly interested in a. explaining how economic changes affect prices of particular goods.b. devising policies to deal with market failures such as externalities and market power.c. devising policies to promote low inflation.d. identifying those markets that are compet
9、itive and those that are not competitive.ANS: C PTS: 1 DIF: 1 REF: 23-0TOP: Economists MSC: InterpretiveChapter 23/Measuring a Nations Income 9817. The basic tools of supply and demand area. useful only in the analysis of economic behavior in individual markets.b. useful in analyzing the overall eco
10、nomy, but not in analyzing individual markets.c. central to microeconomic analysis, but seldom used in macroeconomic analysis.d. central to macroeconomic analysis as well as to microeconomic analysis.ANS: D PTS: 1 DIF: 1 REF: 23-0TOP: Demand | Supply MSC: Interpretive8. Which of the following statis
11、tics is usually regarded as the best single measure of a societys economic well-being?a. the unemployment rateb. the inflation ratec. gross domestic productd. the trade deficitANS: C PTS: 1 DIF: 2 REF: 23-0TOP: Gross domestic product MSC: Interpretive9. For an economy as a whole,a. income is greater
12、 than expenditureb. expenditure is greater than income.c. income is equal to expenditure.d. GDP measures income more precisely than it measures expenditure.ANS: C PTS: 1 DIF: 1 REF: 23-1TOP: Income | Expenditures MSC: Interpretive10. Which of the following statements about GDP is correct?a. GDP meas
13、ures two things at once: the total income of everyone in the economy and the unemployment rate.b. Money continuously flows from households to government and then back to households, and GDP measures this flow of money.c. GDP is to a nations economy as household income is to a household.d. All of the
14、 above are correct.ANS: C PTS: 1 DIF: 2 REF: 23-1TOP: Gross domestic product MSC: Interpretive11. Which of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economys output of goods and servi
15、ces.b. Money continuously flows from households to firms and then back to households, and GDP measures this flow of money.c. GDP is generally regarded as the best single measure of a societys economic well-being.d. All of the above are correct.ANS: D PTS: 1 DIF: 2 REF: 23-1TOP: Gross domestic produc
16、t MSC: Interpretive12. Gross domestic product serves as a measure of two things:a. the total spending of everyone in the economy and the total saving of everyone in the economy.b. the total income of everyone in the economy and the total expenditure on the nations output of goods and services.c. the value of the nations output of goods and services for domestic citizens and the value of the nations output of goods and services for the rest of the world.d. the nations saving and
