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ECO403 Macroeconomics MCQs

ECO403-Macroeconomics study material for students of virtual university of Pakistan. Download Past(old) Papers solved/unsolved, past assignments, quiz, mcqs, lecture notes, video lectures, handouts, books of ECO403-Macroeconomics

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All of the following are flow variables EXCEPT
  • Disposable personal income
  • Consumption expenditures
  • Personal wealth
  • Gross domestic product
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The variable that is held constant for a given production function is the
  • Amount of labor input.
  • Amount of output
  • Amount of capital input
  • Production technology
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All of the following are reasons why wages and/or prices may be sticky in the short run EXCEPT
  • Long-term labor contracts often set wages in advance for up to three years
  • Many firms leave their product prices unchanged for long periods of time in order to prevent current customers from "shopping around."
  • It is costly for firms to print new price lists and advertise frequently changing prices
  • Firms are already charging the highest prices people will pay so there is no reason to change them
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Macroeconomists study all of the following issues EXCEPT the
  • Determinants of inflation
  • Relative market shares of General Motors and Ford
  • Growth of total production in the United States
  • Amount of imports and exports between the United States and Japan
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