11. Macroeconomics is concerned with the study of:
a) Individual consumers and firms
b) National income and employment
c) Aggregate demand and supply
d) Government policies
12. Gross Domestic Product (GDP) measures:
a) The total value of all goods and services produced within a country in a given period
b) The total value of all exports minus imports
c) The total value of all final goods and services produced within a country in a given period
d) The total value of all intermediate goods and services produced within a country in a given period
13. Inflation is defined as:
a) An increase in the general level of prices
b) A decrease in the general level of prices
c) An increase in the quantity of money in circulation
d) A decrease in the quantity of money in circulation
14. The unemployment rate is calculated as the:
a) Number of unemployed individuals divided by the total population
b) Number of unemployed individuals divided by the labor force
c) Number of employed individuals divided by the total population
d) Number of employed individuals divided by the labor force
15. Fiscal policy refers to:
a) Government policies that manipulate interest rates and money supply
b) Government policies that regulate trade between countries
c) Government policies that influence aggregate demand and stabilize the economy through changes in taxation and government spending
d) Government policies that control the supply and demand of specific goods and services
