(Solved): Knowledge Check 1 | Managerial Economics (JWI515006JWONL-1224-001) Attempt Score 4 out of 4 points ...

Knowledge Check 1

Managerial Economics

(JWI515006JWONL-1224-001)

Attempt Score    4 out of 4 points  

QUESTION 1
GDP is expressed in inflation adjusted dollars.

• True
• False

0.4 points  

 
QUESTION 2
Which of the following statements in NOT true?
    A.    Raising the Interest rate decreases the rate of Inflation.
    B.    Lagging Indicators can predict the economy's future direction.
    C.    Perfect Competition involves many sellers offering similar goods.
    D.    Cost-push is one of the causes of Inflation.
0.4 points   

QUESTION 3
GDP calculation does not reflect depreciation of machinery and other capital assets. Therefore, it is considered to be a ______ measure.
    A.    Net
    B.    Nominal
    C.    Gross
    D.    Annual
    E.    Marginal
0.4 points   

QUESTION 4
The Federal Reserve regulates banks and enacts U.S. monetary policy.

• True
• False

0.4 points   

QUESTION 5
Decreasing the Interest Rate ...
    A.    Slows down the Rate of Inflation.
    B.    Makes it harder for consumers to borrow money.
    C.    Increases the flow of cash into the marketplace.
    D.    Makes it harder for businesses to borrow money.
0.4 points  

 
QUESTION 6
Which of the following is NOT a significant Indicator in Macroeconomics?
    A.    The Unemployment Rate.
    B.    The Gross Domestic Product.
    C.    Consumption of Goods and Services.
    D.    The Rate of Inflation.
0.4 points   

QUESTION 7
The Consumer Price Index (CPI) is reported once every quarter.

• True
• False

0.4 points   

QUESTION 8
A basket of goods bought by a typical consumer is used to ...
    A.    Calculate the Interest Rate.
    B.    Measure the Gross Domestic Product.
    C.    Calculate the Consumer Price Index.
    D.    Illustrate the law of Supply and Demand.
0.4 points   

QUESTION 9
Prior to policy changes due to COVID-19, to be counted in the Unemployment Rate, a person must ... 
    A.    Have given up trying to find employment.
    B.    Be less than the retirement age of 65 years old.
    C.    Have lost a job through involuntary layoffs.
    D.    Have been actively seeking a job for the past 4 weeks.
0.4 points   

QUESTION 10
The Federal Reserve (FED) sets the Interest Rate for the U.S.A. In this function, the Fed operates as a ...
    A.    Monopoly.
    B.    Coincident Indicator.
    C.    Regulating entity.
    D.    Market Structure.