(02.03 MC) Sarah and Jackson are working in a firm. Due to automation in the manufacturing process, Jackson lost his job. After some time, the economy is hit hard by recession, and the firm also laid off Sarah. Now, Sarah and Jackson are both unemployed. Which of the following is true for the above scenario?

(05.07 MC) Which of the following policy initiatives is most likely to increase economic growth?

(02.03 MC) Liza is currently unemployed and stopped her job search six months back. Considering Liza’s employment status, which of the following is true about the unemployment rate?

(06.04 HC) Prices in Country A sharply rose due to a supply shortage and led to high levels of inflation in the economy. What effect is this price increase likely to have on domestic currency in the foreign exchange market?

(01.02 MC)Kim decides to go to the zoo on Tuesday afternoon. On Tuesday, Kim’s boss assigns a new project due by the end of the day. Which of the following statements describes the opportunity cost of Kim using Tuesday to work on the project?

(06.05 HC) Assume that Country Y engages in expansionary fiscal policy to stimulate its economy. Which of the following statements relating to imports and exports is correct?

(01.02 MC)Kim decides to go to the zoo on Tuesday afternoon. On Tuesday, Kim’s boss assigns a new project due by the end of the day. Which of the following statements describes the opportunity cost of Kim using Tuesday to work on the project?

(02.07 MC) Use the graph to answer the question that follows.Country ‘P’ is at point ‘D’ of the business cycle. As an economist, what steps would you suggest government authorities to take?

(05.03 MC) If the money supply in an economy is $240 billion and the nominal GDP is $960 billion, then how many times is the average dollar in the economy spent?

(05.04 MC) The sum of government purchases and transfer payments for a given year is $1.2 trillion, while total government revenue was $1 trillion. If in the following year, the government spent more and took in less revenue, which of the following would be true?