Ch32 Macroeconomic Policy Around the World

*Ch32 Macroeconomic Policy Around the World*

*Multiple Choice Questions*

*1.* In what way is each and every one of the economies of the more than 200 countries of the world similar?

A. all use the same macroeconomic policies
B. each focuses on a Keynesian perspective
C. all have their own distinctive characteristics
D. each focuses on a neoclassical perspective

Answer: C Reference:

Explanation:

Type: Multiple Choice

*2.* The high-income economies of the world contain approximately __________ of the world’s population and produce and consume ___________ of the World’s GDP.

A. 14%; over 50%
B. 12%; over 60%
C. 14%; over 70%
D. 12%; over 80%

Answer: B Reference:

Explanation:

Type: Multiple Choice

*3.* What do growth in standard of living, low unemployment, low inflation, and a sustainable balance of trade all share in common?

A. main universal goals of macroeconomic policy
B. lack of diversity in undeveloped countries in the World
C. microeconomic policy goals of developed countries
D. microeconomic policy goals of undeveloped countries

Answer: A Reference:

Explanation:

Type: Multiple Choice

*4.* By measuring and comparing per capita GDP data, economists can determine the extent that per capita GDP differs between the nations of the World. While this is useful information, which of the following is a valid criticism of comparing per capita GDP for this purpose?

A. national economies within the global economy are diverse
B. most comparisons between regions are admittedly rough
C. fails to capture diversity across the regions
D. fails to capture the precise standard of living

Answer: D Reference:

Explanation:

Type: Multiple Choice Category: Evaluate

*5.* When per capita GDP is used as a rough measure to compare the economic regions of the World, the richest region is _________________ and the poorest region is ________________.

A. East Asia and the Pacific; South Asia
B. the United States, Western Europe and Japan; South Asia
C. the United States, Western Europe and Japan; Sub-Saharan Africa
D. East Asia and the Pacific; Sub-Saharan Africa

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