Macroeconomics > QUESTIONS & ANSWERS > Sophia Macro Final Milestone Questions and Answers Already Passed (All)
Sophia Macro Final Milestone Questions and Answers Already Passed
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You passed this Milestone 23 questions were answered correctly. 2 questions were answered incorrectly. 1 Which of the following is the most significant tool the government can use to reduce the se... verity of business cycles? Spending Social security Public goods Debt reduction CONCEPT Role of the Government/Government Spending/Transfer Payments 2 Using the expenditure approach and the information shown here, which of the following is the GDP? Individual Purchases: $5 billion Government purchases: $10 billion Business investments: $5 billion 12/16/2020 Sophia :: Welcome https://snhu.sophia.org/spcc/macroeconomics-2/milestone_take_feedbacks/7155489 2/20 Imports: $5 billion Exports: $10 billion $35 billion $45 billion $15 billion $25 billion CONCEPT Expenditure and Income Equations 3 If the price of a gallon of gasoline in California was $0.99 in 1997 and is currently $3.69, prices have increased by which factor below? -3.73 .27 .72 3.73 CONCEPT Nominal GDP versus Real GDP 4 The consumer will bear more of the burden of a tax if demand is which of the following? Unit elastic 12/16/2020 Sophia :: Welcome https://snhu.sophia.org/spcc/macroeconomics-2/milestone_take_feedbacks/7155489 3/20 Perfectly elastic Inelastic Elastic CONCEPT Tax/Subsidy 5 Which statement below about economics is false? Microeconomics studies decision-making at the individual level. Economics is part of the humanities because it studies human decision-making. Most questions about economics address the central banking system and financial economics. Macroeconomics studies the application of economics across an economy. 6 If the short run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the LRAS curve, which statement below is true? The government will probably implement expansionary macroeconomic policies. Producers are using inventory faster than it can be replaced. This situation will most likely coincide with high unemployment. [Show More]
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