Question

26. If average labor productivity increases, then the same number of employed workers will always produce:

A) more total output. B) less total output. C) less output per person. D) more output per person.

27. When jobs are hard to find, profits are low, few wage increases are given, and many companies go out of business, the economy is most likely in a(n):

A) expansion.  B)recession.  C) boom.  D) shortage.

28. The rate at which prices in general are increasing is called:

A) the unemployment rate. B) the inflation rate.  C) the trade balance. D) the standard of living.

29.  A trade deficit occurs when:
A)   exports are less than imports.
B)   government revenue exceeds government spending.
C)   government spending exceeds government revenue.
D)   exports exceed imports.

30. Major macroeconomic issues include differences across countries in all of the following EXCEPT:

A) inflation rates B) economic growth rates C) unemployment rates  D) infant mortality rates

31. Macroeconomic issues include all of the following EXCEPT:

A) energy reserves B) productivity  C) economic growth  D) recessions and expansions

Answer 1

Ans 26 D) more output per person

Explanation:average labpur productivity can be identified by dividing total output from number of workers for example if 900 pens are produced by 30 employess than the average labour productivity per worker is 30.therefore if average labour productivity increase it will increase per unit output.

ans 27 b) Recession

explanation: Recession is a period of decline in economic activity.In this period demand decline ,business fear to shut,unemployement rise.During this period general decline in all economic acrivity can be seen.

Ans 28.B ) The inflation rate.

Explanation-Inflation is the rise in the price of goods and services over a perod of time.Inflation may cause by many reasona like rise in demand will rise the price of goods,increasing the cost of manufacturing will increase the price etc.

ans 29 d)Export exceeds imports.

Explanation-Trade deficit occurs when export more goods and service than import. It can be calculated by subtracting export from import .

ans 30.D)Infant mortality rate:

Explnation:Macroeconomic is the branch of economics that studies economy widely it imcludes imflation rate,unemployment rate ,economic growth ,GDP,changes in unemployement it helps in comparison with other countries.where as it does not consider infant mortality rate measure the death of young children under the age of 1 .