VOCABULARY TEST : ECONOMICS (02)

MACROECONOMICS

ADVANCED LEVEL

I am greatly indebted to [and hope I be forgiven for my pillaging and pilfering from] an excellent French website, namely, se-former.org... (now closed down)... Forsooth, I have made very few changes and contributed very little of my own, beyond adding a fourth false alternative answer... Valla çok emek verdim ve sanıyorum London School of Economics'in hocaları
bitirme sınavları için soruları çaktırmadan  buradan yürüteceklerdir...

Please do not click the answer button before you have thoroughly studied the question and deliberated on your own choice !!

 

 
    01 --  Keynesian economic theory stresses that the government should play an active role in managing ............... demand.

a. overall
b.
aggregate
c.
total
d.
public
e. excessive

  

02 --  According to the Rational ............... Hypothesis, government cannot use fiscal policy to raise output above its natural level.

a. Perceptions
b.
Bargaining
c. Decisions
d.
Anticipations
e.
Expectations

  

03 --  Monetarist theory also suggests that unemployment always ............. to converge on its "natural" level.

a. attends
b. pretends
c.
tends
d. blends

e. expends


  

04 --  Prices and ............... policies were progressively abandoned in most market and mixed economies during the 1970s and early 1980s.

a. wages
b. expenditure
c. incomes
d.
exchange
e.
salaries

  

05 --  Other things being equal, automatic stabilizers should smooth .......... the business cycle.

a. out
b. in
c. up
d. off
e. into

  

06 --  Deregulation and liberalisation have been widely pursued under the influence of ............... economics.

a. open-market
b.
free-trade
c.
competition
d.
supply-side
e. laissez faire

  

07 --  Government borrowing is often criticised for .......... private investment.

a. blowing up
b.
crowding out
c. encouraging
d.
accelerating
e.
stimulating

  

08 --  Interest rates have generally become the main instrument for controlling the ............... supply.

a. wealth
b. receipts

c. assets
d. savings
e. money


  

09 ............... depends not just on interest rates but also on the companies' expectations of demand.

a. Consumption
b. Capital
c.
Investment
d.
Spending
e.
Savings

  

10 --  The authorities may decide to cut down public-sector spending as part of their ............... policy.

a. exchange rate
b. foreign
c.
fiscal
d.
affluence
e. elections

                 

11 --  Changes in tax policy have a direct ............... on households' disposable income.

a. extract
b. contract
c. transact
d. intact

e. impact

                 

12 --  If households want to increase their savings ratio, then their .............. to consume is likely to fall.

a. propensity
b. discontent
c. unwillingness
d.
evasiveness
e. reluctance

                 

13 --  It is often argued that a minimum .......... will increase unemployment.

a. income
b. assistance
c. salary
d. wage

e. aid

                 

14 --  A rise in the rate of inflation leads to a direct fall in ............... interest rates.

a. stipulated
b.
depreciation
c.
real
d.
adjusted
e.
nominal

                 

15 --  Financial deregulation is likely to cause a drop in the ............... of circulation.

a. speed
b. progression
c.
velocity
d. instantaneity

e. suddenness

                   

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