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¡½Test > Macroeconomics I
There are 10 questions in this quiz![ PRINT ]

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Q. 1 Which of the following should be included in the calculation of GNP?
A
The value of newly issued shares
B
The value of previously issued shares
C
Income from gambling
D
Commissions from securities trading


Q. 2 Refer to the following diagram. Point Y is in one of the phases of the business cycle. Which of the following are the characteristics of this phase?

(1) Price level decreases
(2) Unemployment rate is very low
(3) As the GNP has reached its optimum level, it will stop increasing
(4) The real GNP growth rate starts to decrease
A
(2) only
B
(1) and (4) only
C
(2) and (3) only
D
(2), (3) and (4) only


Q. 3 Compare agate (º¿·ê) with gold; the latter is a better money. It is because the former
(1) is more difficult to be divided into parts.
(2) is more difficult to be accepted by the public.
(3) is more difficult to be carried.
A
(1) and (2) only
B
(1) and (3) only
C
(2) and (3) only
D
(1), (2) and (3) only


Q. 4 Study the following balance sheet of Bank A and answer the question¡G

If the minimum required reserve ratio in the banking system decreases from 20% to 15%, the excess reserves of Bank A will
A
decrease by $50.
B
increase by $50.
C
increase by $100.
D
decrease by $100.


Q. 5
Study the above diagram. Which of the following descriptions is correct?
A
It is a progressive tax because tax increases as income increases.
B
It is a proportional tax because tax rate remains constant.
C
It is a regressive tax because tax rate does not increase as income increases.
D
The exact tax rate cannot be determined.


Q. 6 Suppose Country A and B produce only good X and Y. The following table shows their output.

According to the above table, we can conclude that
A
Country A has a comparative advantage in producing good X.
B
Country B has a comparative advantage in producing both good X and Y.
C
Country B has an absolute advantage in producing both good X and Y.
D
W are not sure which country is having advantage in producing good X or Y.


Q. 7 Which of the following is a direct tax as well as a proportional tax?
A
Property tax
B
Betting duty
C
Hotel accommodation tax
D
Estate duty


Q. 8 The transaction of stocks should not be included in the calculation of GDP because
A
Stocks are not final goods. They are intermediate goods.
B
The buying and selling of stocks do not involve production but merely a change of ownership.
C
It is difficult to get the information about the stock market because it changes a lot.
D
Stocks are financial assets which are already issued.


Q. 9 There are four types of consumer price index in Hong Kong. Three of them are CPI(A), CPI(B), and CPI(C). They are classified according to
A
the monthly income of all households in Hong Kong.
B
the monthly expenditure of all households in Hong Kong.
C
the monthly change of price of different commodities.
D
all of the above are incorrect.


Q. 10 The savings and time deposits in a licensed bank is included in
A
(1) only
B
(2) only
C
(2) and (3) only
D
(1), (2) and (3)


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