1. Complete the sentence: A firm in competitive market…
2. Complete the sentence: The government imposes a tax t on workers for each unit of labor L.
The tax…
3. Complete the sentence: Government tax and redistribution programs…
4. Complete the sentence: In competitive market, a firm should shut down when ……...
5. Monopoly and oligopoly markets have in common:
6. Monopolistic competition is a market structure in which a
7. _______ ________ is a price index that shows how many times the price level of all goods
and services produced in the current year is greater than the price level of the previous year or
the base year
8. Set the order of the phases of the economic cycle, beginning with the economic boom. 1)
peak; 2) contraction; 3) trough; 4) expansion
9. The state budget is serviced by:
10. The monetary system is:
11. In an oligopolistic market, a firm:
12. Which of the following is characteristic of monopolistic competition:
13. Monopolistic competition is characterized by the following features:
14. In closed economy, total investment contributions must come from:
15. Adjusting the level of government expenditure is an example of:
16. What term is used to describe the percent of the labor force that does not have a job but is
currently looking for one?
17. The MAIN purpose of a tariff is to:
18. Which of the following offers an example of structural unemployment?
19. Unemployment caused by lack of skills or demand:
20. The main goal of the social policy of a welfare state is:
21. Which of the following is true during a period of loose monetary policy?
22. Which is true of a fiscal policy?
23. Stimulus checks, lower interest rates, decrease in reserve requirement and lower taxes are all
examples of:
24. All of the following are variables that can be manipulated to affect fiscal policy except
25. Integrating the domestic economy with the world economy is called....
26. ............refers to disposal of equity of public sector units in the market.
27. What is exclusively reserved for the public sector out of the following?
28. FDI stands for....
29. Reduction in the value of domestic currency by the Government is called.....
30. To increase the capitalisation of commercial banks in Uzbekistan, how much additional
money will be allocated in 2022?
31. Which one of the following types of government regulation does limit competition and create
artificial market power?
32. Which of the following made monopolization and restraint of trade illegal?
33. What is regulatory agency?
34. Which of the following prohibits tying contracts?
35. What policy neutralizes the effect on the inflation rate and the real GDP of a positive shock to
the aggregate supply function?
36. The The Ministry of Labour conducts a survey each month to determine unemployment rates.
To determine the unemployment rate, the ML classifies survey respondents into any of these
categories except:
37. Complete the sentence: Oleg is laid off from her work because the firm is moving to
Uzbekistan. Oleg is…
38. Ostin, who is 59 and has been a worker for 35 year-period, is jobless by reason of the closed
plant in his town and moved to Japan. Ostin is experiencing:
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
67.
68.
69.
70.
71.
72.
73.
74.
75.
76.
77.
Deviations from the natural rate of unemployment are known as:
The phase of the business cycle in which real GDP declines is called:
A monopolistic firm is MOST likely to do which of the following?
Complete the sentence: A natural monopoly is MOST likely to occur whenever...
Complete the sentence: The simplest definition of oligopoly is...
Which factor(s) affect the distribution of income?
What is the Gini Index?
When a household does not have sufficient income to sustain even a basic acceptable standard
of living / meet basic needs - it is referred to as
A Gini Coefficent of zero represents ________
Which of the following do firms set equal to the wage level in order to maximize their revenue?
If the MRP of labor at a firm is $5 an hour, and the wage is $4 an hour, what should the firm
do?
If the MRP of labor at a particular firm is $7 an hour, and the wage is $8 an hour, what should
the firm do?
What does the law of diminishing returns mean, when applied to the MRP of labor?
Which of the following may cause a drop in the unemployment rate?
If the MRP of labor is greater than the wage, that means that:
Several factors affect the demand for labour, including all of the following EXCEPT:
Which of the following will cause wage rates to rise in a labour market?
A period during which real GDP grows and unemployment falls is called
What policy neutralizes the effect on the inflation rate and the real GDP of a positive shock to
the aggregate supply function?
An expansionary monetary policy aims at
Complete the sentence: The labour force consists of…
Changes in government expenditures and taxation to achieve macroeconomic goals, such as low
unemployment, stable prices, and rapid economic growth, are called
Expansionary fiscal policy clearly includes deliberate actions by policy makers that
Complete the sentence: When the economy experiences an expansion, it is most likely the case
that…
GDP expressed in constant, or unchanging, (adjusted for inflation) prices is called:
Adjusting the level of government expenditure is an example of:
Nominal GDP is:
Real GDP measures:
Real GDP and nominal GDP differ because the real GDP:
In comparing GDP data over a period of years, a difference between nominal and real GDP
may arise because:
If one perfectly competitive firm increases its level of output, market supply:
A perfectly competitive firm should reduce output or shut down in the short run if market
price is equal to marginal cost and price is:
Which of the following is NOT a characteristic of a perfectly competitive market?
How is the HI calculated?
The Herfindahl Index (HI) is a formula that measures _______
Which is true for Herfindahl-Hirschman index measuring monopolistic power in a market?
If an industry is comprised of four firms and their market shares are 40%, 30%, 20%, and
10%, then the Herfindahl index for the industry is
The Herfindahl index will be largest for an industry that is
The Herfindahl index will be smallest for an industry that is
78.
79.
80.
81.
82.
Which of the statements below is FALSE for a monopoly?
Complete the sentence: In competitive market, a firm should shut down when ……...
Complete the sentence: In competitive market, a firm should exit when ……...
Which of the following statements about inflation is incorrect?
Assume that chartered banks keep 2% of their deposits as reserves. If a $10,000 deposit is
made at a chartered bank, by how much can the banking system expand the money supply?
83. Which of the following is not cited as a reason for trade barriers?
84. A period during which real GDP grows and unemployment falls is called
85. Which one is a monetary policy instrument of central banks?
86. What policy neutralizes the effect on the inflation rate and the real GDP of a positive shock to
the aggregate supply function?
87. A period during which real GDP grows and unemployment falls is called…
88. An expansionary monetary policy aims at
89. Complete the sentence: The labour force consists of…
90. An expansionary fiscal policy aims at rising
91. Complete the sentence: Okun’s law establishes a negative relationship between…
92. Complete the sentence: When the central bank sells financial assets…
93. The claim that a change in real GDP is equal to the change in government purchases when
such purchases and taxes change by the same dollar amount and in the same direction is
called
94. Complete the sentence: When the value of Uzbekistan exports is less than the value of
Uzbekistan imports,…
95. Complete the sentence: According to the Laffer curve,…
96. The The Ministry of Labour conducts a survey each month to determine unemployment rates.
To determine the unemployment rate, the ML classifies survey respondents into any of these
categories except:
97. Which of the following people would be counted as officially employed?
98. Suppose the the Ministry of Labour conducted a monthly survey of 1,000 individuals, and
found that 400 are employed, 100 are unemployed, and 500 are not in the labor force. From
this information, which of the following statements is false?
99. Complete the sentence: When the economy experiences an expansion, it is most likely the
case that…
100.
During recessions all of the following usually happen EXCEPT
101.
GDP is an important economic measurement because it
102.
When calculating GDP, which of the following gets subtracted out?
103.
What term is used to describe the percent of the labor force that does not have a job
but is currently looking for one?
104.
"Prices for consumer goods down 5% this year!" This headline affects which
economic indicator the most?
105.
The term comparative advantage implies that:
106.
A tariff imposed on an import will
107.
The MAIN purpose of a tariff is to:
108.
When one producer has a lower opportunity cost of production than another producer
for a given item, what exists?
109.
How do we measure economic growth?
110.
Ostin, who is 59 and has been a worker for 35 year-period, is jobless by reason of the
closed plant in his town and moved to Japan. Ostin is experiencing:
111.
The MPC is:
112.
The money demand curve is:
113.
If technology progresses, then:
114.
Long-run economic expansion has been mostly reliant on:
115.
Ascending reserves usually indicate:
116.
Banks initiate money while they:
117.
An example of the frictionally inactive is a(n):
118.
The wealth effect is followed in:
119.
An upturn in the demand for money would outcome from:
120.
Imagine that the aggregate consumption function is given: C = 200 + 0.8YD, where C
represents consumption and YD represents disposable income. If disposable income is $500,
find aggregate consumption :
121.
When an economy's total production grows faster than its population, it is consided to
as:
122.
Deviations from the natural rate of unemployment are known as:
123.
Anticipated inflation affects:
124.
The money supply curve is:
125.
According to wealth effect, if prices decline, the purchasing power of assets:
126.
Changes in aggregate demand can be caused by changes in:
127.
Suppose that the economy is in long-run macroeconomic equilibrium and aggregate
demand increases. As the economy moves to short-run macroeconomic equilibrium, there is:
128.
People abandon interest and grip money:
129.
The bottom of the business cycle:
130.
The following symbols of bank control formed to avoid bank runs EXCEPT:
131.
The short-run aggregate supply curve slopes upward cause of:
132.
In closed economy, total investment contributions must come from:
133.
Adjusting the level of government expenditure is an example of:
134.
The aptitudes, coaching and education carried by workers that contribute to economic
growth are known as:
135.
Susy's disposable income increases by $5,000, and she spends $3000 of it. Susy's:
136.
If Uzbekistan sold more goods and services in world market than imported from the
other countries, then the Uzbekistan has a:
137.
Macroeconomics approaches the study of economics from the viewpoint of:
138.
Which of the following is associated with macroeconomics?
139.
The problems of aggregate inflation and unemployment are:
140.
Which of the following statements pertains to macroeconomics?
141.
Macroeconomics can best be described as the:
142.
Nominal GDP is:
143.
Real GDP refers to:
144.
Real GDP measures:
145.
Nominal GDP is adjusted for price changes through the use of:
146.
A price index is:
147.
The GDP price index:
148.
If real GDP falls from one period to another, we can conclude that:
149.
If real GDP in a particular year is $80 billion and nominal GDP is $240 billion, the…
150.
GDP price index for that year is:
151.
Real GDP and nominal GDP differ because the real GDP:
152.
If nominal GDP rises:
153.
Real GDP is:
154.
In comparing GDP data over a period of years, a difference between nominal and real
GDP may arise because:
155.
The phase of the business cycle in which real GDP declines is called:
156.
Meeps and Blops are two goods that are related to each other. When the price of
Meeps goes down, the demand for Blops goes down.
157.
Owen saw that the price of peaches had gone down, and so he decided to buy more
peaches.
158.
All of the following influence whether a consumer buys more of a good EXCEPT:
159.
An increase in the price of a product will reduce the amount of it purchased because:
160.
Which of the following will not cause the demand for product K to change?
161.
If the price of K declines, the demand curve for the complementary product J will:
162.
A firm's supply curve is upsloping because:
163.
An effective ceiling price will:
164.
Which of the following is not a type of market structure?
165.
If the market demand curve for a commodity has a negative slope then the market
structure must be:
166.
Which of the following is not a form of labor?
167.
What do you call the base level at which something is growing?
168.
What type of capital is knowledge?
169.
What type of capital is machinery?
170.
Which of the following does not represent an increase in capital?
171.
Where does the money for capital expenditures not come from?
172.
What is given up if the savings rate is high?
173.
What is given up if the savings rate is low?
174.
How might a government try to promote sustainable growth?
175.
Why might economic growth have 'costs'?
176.
A certain amount of goods and services is necessary for a minimum standard of
living. This is called…
177.
All but one of the following are methods to represent overall income inequality:
178.
The concept of opportunity cost is based upon the principle of…
179.
Which of the following is not one of the basic functions of money?
180.
Which of the following is the best example of how money is used as a medium of
exchange?
181.
What are the two types of money?
182.
Which of the following is the best example of commodity money?
183.
Which of the following is the best example of fiat money?
184.
What do you call the real value of money?
185.
If the money supply were decreased, what would happen to the price level?
186.
What is the cause of inflation, according to the quantity theory of money?
187.
Using the equation for the quantity theory of money, what is the price level if V = 10,
M = 100, and Y = 50?
188.
What is the equation that describes the quantity theory of money?
189.
What is the most important variable in the mediation of changes in the money
supply?
190.
When money changes hands slowly, what is the value of the velocity of money?
191.
When there is a large quantity of goods and services being produced, what is the size
of output?
192.
A monopolistic firm is MOST likely to do which of the following?
193.
Complete the sentence: A firm that is given exclusive rights by the government to
provide a particular service in a particular area is BEST termed...
194.
Complete the sentence: A natural monopoly is MOST likely to occur whenever...
195.
The supply curve of a firm in perfect competition is the segment of its:
196.
Complete the sentence: If a firm has no fixed costs, we can safely conclude that...
197.
Complete the sentence: The simplest definition of oligopoly is...
198.
Complete the sentence: A technological breakthrough that makes workers twice as
efficient on the job will tend to have which of the following effects? It will shift the...
199.
200.
Which of the following is an example of market failure?
Which of the following is not a type of good?