21. To calculate the contribution of a firm to the created GDP, calculated by the production method, it is necessary from market value products sold subtract:
and all indirect taxes;
c) depreciation;
d) the volume of purchases of materials from other firms.
22. If the volume of real GDP decreased by 6%, and the population decreased by 3% in the same year, then:
a) real GDP per capita has fallen;
b) real GDP per capita increased, while nominal GDP decreased;
c) nominal GDP has not changed;
d) prices fell by 3%.
23. GDP calculated by the amount of expenditure does not include the following value:
a) investments;
b) net exports;
c) public procurement of goods and services;
d) salary.
24. Value added is defined as:
a) the amount of wages and interest on the loan;
b) gross revenue minus current material costs plus deductions for depreciation;
c) the amount of wages and depreciation;
d) the sum of profits and wages.
25. Height public spending increases real GDP only if:
a) government spending is directed to the purchase of goods and services, and not to the remuneration of officials;
b) government spending is accompanied by an increase in the money supply;
c) government spending does not crowd out an equal amount of spending in the non-state sector;
d) government spending is financed by issuing government loans.
26. If consumption expenditure is 60, gross investment 20, government purchases of goods and services 30, imports 20, exports 10, depreciation 10, then gross national product and net national product are respectively:
b) 100 and 90;
27. GNP calculated from the expenditure stream and GNP calculated from the income stream are related as follows:
a) GNP on income is equal to GNP on expenditures;
b) GNP on income is greater than GNP on expenditures under conditions economic growth;
c) the ratio between GNP in terms of income and GNP in terms of expenditures depends on the inflation rate for the period under review;
d) all answers are correct.
28. The accuracy of the macroeconomic model increases:
a) when it approaches a real object;
b) when the model becomes more complex;
c) with a decrease in the number of restrictions introduced into the model;
d) with the correct allocation of the main elements of the system and their relationships, expressing the studied economic process (phenomenon)
29. The circular flow model illustrates:
a) the process of formation of market prices;
b) interaction between the Central Bank, commercial banks, bank depositors and those who borrow money from banks;
c) the relationship of the main economic entities;
d) interaction of economic growth factors.
30. If the general price level in the country increases significantly over the year, and the production of goods and services does not change, then, all other things being equal:
a) real gross domestic product(GDP) will increase;
b) nominal GDP will decrease;
c) nominal GDP will increase;
d) the real standard of living in the country will rise.
31. From the definitions of the concept of "gross domestic product" proposed below, select the best one. Gross domestic product is:
a) the market value of all final goods and services produced in the territory of the country during the calendar year;
b) the value of all final goods and services purchased at market prices in the territory of the country during the calendar year;
c) the market value of the final goods and services produced by the inhabitants of the country during the calendar year;
d) the market value of the country during the calendar year.
32. Organization of the production of sneakers in Russia by a British company:
a) increase the GNP of Great Britain;
b) increase the UK GDP;
c) will increase both;
d) will increase neither one nor the other.
33. Income received by the owners of factors of production, in the amount of ...
a) gross national product;
b) gross domestic product;
c) disposable income;
d) national income.
34. If real GNP is equal to potential, then in accordance with the Phillips curve, which takes into account expectation inflation, it can be argued that actual level inflation is zero?
b) no.
35. The purchase of a new house by a family outside the city will be reflected in the value of:
a) net exports;
b) government spending;
c) investment expenses;
d) spending on consumer durables.
Last year, the authorities adopted a number of laws that directly or indirectly affect the construction and acquisition of housing.
Some laws are already in force, others are yet to come into effect this year.
Analysts of the real estate market believe that in the aggregate, all these legislative innovations cannot but affect the most important aspect for the end consumer - housing prices.
Vestum.RU tried to understand all the diversity of opinions and create a clear picture of what is happening with prices in the real estate market today and what awaits them in the future.
Today the situation is such that the purchasing power of the population has decreased, as people's incomes do not increase, so they are forced to save. This also applies to buying a home. People choose cheaper real estate, looking for offers with the lowest price, fortunately, the market for offers is wide and there are plenty to choose from. In addition, the economic situation in the country has led people to stop considering residential real estate as an investment option. Maintaining a home is becoming more and more burdensome, with rising taxes and utility bills.
Experts believe that with the abolition shared construction, large investments in housing will disappear altogether. If earlier it was possible to buy an apartment cheaply at the stage of the initial stage of construction, and then, when the house is built, sell it many times more expensive, then this opportunity will go away when switching to project financing.
There was an option to buy ready-made apartments without finishing. Many large businessmen buy such apartments, make repairs, furnish them with furniture and resell them. But, this will soon come to an end, because the Ministry of Construction is preparing a bill that is designed to ban the sale of housing without finishing.
Mortgages are on the rise
Naturally, the growth of home purchases is observed. The reason is lower mortgage rates. According to statistics for the past year, 2017, the number of people who took mortgage loans increased by 25%. The authorities are just betting on mortgages, according to estimates by 2030, 60% of the population will be able to get a mortgage. So far this is what it's all about. Banks cut rates an initial fee, the state has launched a program for families with two or more children, according to which you can take a mortgage at 6%. However, not all experts believe that this is good.
Some analysts believe that overly affordable mortgages will drive up property prices. Plus, not all citizens regularly pay their mortgages. This is the economic situation: today you work and can take out a mortgage, tomorrow you are fired, and there is nothing to pay. Experts believe that in unstable economic situation giving out loans is dangerous and they remember the mortgage crisis in the US in 2007.
By the way, banks are already concerned about this problem. Already at the end of last year, experts noted, banks were less likely to approve mortgage loans, arguing this just by the growing number of non-payment of loans. Long delays in payments for the past year has increased by more than 20 percent.
In addition, according to Sberbank forecasts, the demand for mortgage loans this year will only grow. Moreover, the situation in the sphere of state policy on this issue is favorable. So it became known that, for example, they want to cancel the down payment altogether. True, only young families will have such an opportunity. Such a project was conceived in the Youth Parliament, and the creators intend to send it to the State Duma, the Russian government and the regions.
Now, in order to buy a home with a mortgage, young families must pay 30% of the cost of the apartment in the form of a down payment. Not everyone can save that amount. Therefore, according to the parliament, this contribution can be abolished by distributing it between payments or raising the rate.
The President of Russia, as we said above, approved the program for families with children. Plus, he instructed officials to develop a strategy that would allow half of the population to buy a home with a mortgage by 2025.
Against this background, the Bank of Russia, summing up the results of last year, reported that mortgages are breaking all records: rates have reached a minimum, and the amount of loans issued, on the contrary, has increased markedly. Therefore, it is logical to assume that banks will tighten the requirements for borrowers.
Basic properties of a production possibilities curve (2 answers)
the greater the output of one product, the greater the “sacrifice” of another product required to increase the output of this product by one
of two production options, the one with the highest output is more efficient
not all production options are comparable to each other, so the optimal option is not the only one
There are three states of the system. Find state with efficient production.
32. If a country uses all human, capital and Natural resources, then a greater amount of any product ...
a) can be produced only by private entrepreneurs, but not by the state;
B) can be produced only with a reduction in the production of any other goods;
c) can be produced only with a general decrease in prices;
d) cannot be produced.
33. Pareto - effective is the state of the economy in which:
A) it is impossible to increase the degree of satisfaction of the needs of at least one person without worsening the position of another member of society;
b) it is possible to increase the degree of satisfaction of the needs of at least one person without worsening the position of another member of society;
c) the largest volume of production of goods and services is achieved;
34. How is the extensive type of reproduction characterized:
A) an increase in production capacity as a result of an increase in the number of factors of production used;
b) an increase in production potential as a result of the improvement of equipment and technology;
c) an increase in production capacity as a result of an increase in the number of factors of production used and the improvement of equipment and technology.
35. Intensive factors:
a) expansion of production capacity;
B) the use of the achievements of scientific and technical progress in production;
c) an increase in the number of employees.
TOPIC 3. MACROECONOMIC INDICATORS.
1. Gross domestic product (GDP) is:
a) the sum of all goods and services produced;
b) the sum of all goods and services sold;
c) the sum of all finished goods and services;
D) the market value of all final goods and services.
2. GDP is measured:
a) at basic prices;
b) at producer prices;
B) at market prices;
d) in export prices.
3. Nominal GNP is the value of goods and services measured:
A) at current prices;
b) in real prices;
c) in prices of the base period;
d) in prices of the previous period.
4. GNP deflator:
A) is equal to the ratio of nominal GNP to real GNP;
b) is equal to the ratio of real GNP to nominal GNP;
c) decreases with the acceleration of inflation;
5. Of the following income or expenses, when calculating the GNP of a given year, the following is not taken into account:
B) buying bonds of a car company;
c) an increase in the company's reserves;
G) wage servants.
6. A Russian citizen temporarily works in the USA, in an American private company. His income includes:
A) in the gross national product of Russia and the gross domestic product of the United States;
b) c Russian GDP and US GDP;
c) in the GNP of Russia and the GNP of the USA;
d) in US GNP and US GDP.
7. GDP does not include:
a) products produced within the country by national capital;
B) receipts from abroad associated with factor income;
c) tangible and intangible services rendered within the country;
d) products produced within the country by foreign capital.
8. What depends GDP value:
a) the amount of goods produced;
b) the amount of resources used in the production of goods;
C) the quantity of goods produced and their prices;
d) price dynamics.
9. Of the following included in the GNP:
a) buying new ones valuable papers;
B) the cost of a new textbook in a bookstore;
c) the amount of money received by the student from the parents;
10. GDP increased from 500 billion rubles. up to 600 billion rubles The GDP deflator increased from 125% to 150%. The value of real GDP:
A) will not change
b) will increase;
c) will decrease;
d) cannot be calculated from these data.
11. GDP=5000 billion rubles Consumer spending=3200 billion rubles Government spending = 900 billion rubles. The volume of FVP will be:
a) 820 billion rubles
b) 1800 billion rubles.
c) 900 billion rubles.
D) it is impossible to determine on the basis of this information.
12. When calculating GDP by expenditure, everything is summed up except:
A) teachers' pensions;
b) net investment;
c) household spending on consumption;
d) the cost of consumed fixed capital.
13. The following types of income and expenses are not taken into account when calculating the GNP of a given year:
a) rent for renting an apartment;
B) services of a housewife for cleaning the apartment;
c) an increase in the company's inventory;
d) wages of servants.
14. When calculating the GNP of a given year, the following type of income and expenses is taken into account:
a) the pension of a former factory worker;
B) the work of a house painter;
c) money received from the sale of a car produced last year;
d) monthly Money transfers received by the student from home.
15. Potential GDP is measured by:
a) the volume of production corresponding to the level of potential needs of the population and all economic entities of the country;
B) the volume of products that can be produced in the country in conditions of full employment of the population (at the level natural unemployment);
c) the maximum amount of output that can be produced in given economic conditions and given factors of production.
16. To calculate the company's contribution to the created GDP, calculated by the production method, it is necessary to subtract from the market value of products sold:
a) all indirect taxes;
b) retained earnings;
c) depreciation;
D) the volume of purchases of materials from other firms.
17. If the volume of real GDP decreased by 6%, and the population decreased by 3% in the same year, then:
A) real GDP per capita has declined;
b) real GDP per capita increased, while nominal GDP decreased;
c) nominal GDP has not changed;
d) prices fell by 3%.
18. The following value is not included in GDP calculated from the amount of expenditures:
a) investments;
b) net exports;
c) public procurement of goods and services;
D) salary.
19. An increase in government spending increases real GDP only if:
a) government spending is directed to the purchase of goods and services, and not to the remuneration of officials;
b) government spending is accompanied by an increase in the money supply;
C) government spending does not crowd out an equal amount of spending in the non-state sector;
d) government spending is financed by issuing government loans.
20. GNP calculated by the expenditure stream and GNP calculated by the income stream are related as follows:
A) GNP on income is equal to GNP on expenditures;
b) GNP on income is greater than GNP on expenditures in the conditions of economic growth;
c) the ratio between GNP in terms of income and GNP in terms of expenditures depends on the inflation rate for the period under review;
d) all answers are correct.
21. If nominal GDP in current year turned out to be higher than the real GDP of the previous year, this means that real GDP in the current year compared to the previous year:
a) has increased
b) decreased;
c) has not changed;
D) information is not enough.
22. What does the circular flow model illustrate:
a) the process of formation of market prices;
b) interaction between the Central Bank, commercial banks, bank depositors and those who borrow money from banks;
C) the relationship of the main economic entities;
d) interaction of economic growth factors.
23. If the general price level in the country increases significantly over the year, and the production of goods and services does not change, then, all other things being equal ...:
a) real gross domestic product (GDP) will increase;
b) nominal GDP will decrease;
C) nominal GDP will increase;
d) the real standard of living in the country will rise.
24. From the definitions of the concept of "gross domestic product" proposed below, select the best one. Gross domestic product is:
A) the market value of all final goods and services produced in the country during the calendar year;
b) the value of all final goods and services purchased at market prices in the territory of the country during the calendar year;
c) the market value of the final goods and services produced by the inhabitants of the country during the calendar year;
d) the market value of the country during the calendar year.
25. Organization of the production of sneakers in Russia by a British company:
A) increase the GNP of Great Britain;
b) increase the UK GDP;
c) will increase both;
d) will increase neither one nor the other.
26. If real GNP is equal to potential, then in accordance with the Phillips curve, which takes into account expectation inflation, it can be argued that the actual inflation rate is zero:
27. The purchase of a new house by a family outside the city will be reflected in the value of:
a) net exports;
b) government spending;
B) investment costs;
d) spending on consumer durables.
28. If index consumer prices increased compared to the previous period, the GDP deflator index:
a) also increased
b) decreased;
c) remained unchanged;
D) can't say for sure.
29. If nominal GDP doubles, the deflator will remain unchanged. How will this affect real GDP?
a) will increase by 5 times;
b) will increase by 1.5 times;
C) will increase by 2.5 times.
30. If the volume of nominal GDP and the price level increase, then:
a) real GDP will increase, but to a lesser extent than prices;
b) real GDP will increase, but more than the price;
c) real GDP will not change;
D) this information does not allow us to determine how real GDP will change.
TOPIC 4. NATIONAL INCOME. NATIONAL WEALTH.
1. The total amount of income coming to the factors of production in the economy is:
a) personal disposable income;
b) real gross national product;
B) national income
d) national wealth;
e) net national product.
2. National income is equal to:
A) net national product minus indirect taxes;
b) national wealth minus indirect taxes;
c) gross national product minus depreciation.
3. The distribution of national income is determined by:
A) the prices of factors of production;
b) minimum salary;
c) the minimum living wage.
4. National wealth is:
a) the country's natural resources and labor resources;
B) a supply of goods and services for this moment;
c) the supply and flow of goods and services at the moment;
5. National wealth takes into account:
A) all available in the country economic benefits as of a certain date;
b) all economic and non-economic benefits available in the country as of a certain date;
c) all created in the country for certain period economic benefits.
6. The school of mercantilists considers as a form of national wealth:
And money;
b) the result of production;
c) the result of labor in agriculture.
7. School of Physiocrats represents the national wealth in the form of:
B) the result of labor in agriculture;
c) the result of production and the person himself, his intellect of information.
8. The main source of replenishment and renewal of national wealth is:
a) taxes;
b) the state budget;
C) a public product.
9. Which of the following values is included in the national income:
a) public procurement of goods and services;
b) gross investment;
B) rental income.
10. If taxes on corporate profits, retained earnings, and contributions to social insurance, and then add the transfer payments, the resulting amount is:
A) personal income
b) depreciation;
c) net national product;
d) disposable income.
11. Not used in determining the volume of national income:
a) corporate profits
B) transfer payments;
c) rental income;
d) salary.
Similar information.
Circulation of income and expenses- a model showing the main relationships and interaction of economic agents with each other on the commodity, resource, financial markets
Personal income - LD (PI) - is the total income received by the owners economic resources
Macroeconomics is a section of economic theory that studies the fundamental problems of the economy at the level of the national economy as a whole. Macroeconomics studies the patterns of behavior of macroeconomic agents in macroeconomic markets
Macroeconomic agents- aggregated subjects economic relations involved in the processes of production, distribution, exchange and consumption of goods. Depending on the functions of the agent and the sources of its financing, four types of agents are distinguished: households, firms, the state and the rest of the world.
Macroeconomic Models is a formalized (graphical or algebraic) description economic processes and phenomena in order to identify the main relationships between them
Macroeconomic Markets- aggregated markets, united by the type of good bought and offered for sale, into groups: commodity market, market of factors of production (resources), financial market (money market and market financial assets, foreign exchange market)
Intersectoral complex is a subsystem national economy, representing an intermediate level between its individual industries and national economy generally. Intersectoral complexes are formed as a result of the merger individual industries into groups
National Wealth (NB)- a set of tangible and intangible benefits created by the labor of previous and current generations and involved in the process of reproduction of natural resources that society has at a certain point in time
national income-ND (NI) is the total income earned by the owners of economic resources, the sum of national factor incomes (wages, rents, interest and profits)
Ratings-monetary indicators, which are determined in money with the purchasing power of the years to which these indicators refer. When calculating the nominal value of a set of goods and services, prices are used
current year (“current” prices)
Nominal GDP (Y N ) is GDP calculated at current prices, in prices of a given year:∑
General price level(P) is an aggregated indicator calculated as a price index (consumer price index, deflator)
Basic macroeconomic identity – obligatory equality of
total costs incurred by economic agents and total incomes earned by them in the production of goods: C + Ig + G + Xn C + S + T
The rest of the world is an aggregate rationally acting macroeconomic agent that unites all the countries of the world with which this country interacts through folk trade(export and import of goods and services) and capital movements(export and import of capital)
Relative indicators- quantities that are measured in percentages or fractions of a unit (for example, the unemployment rate, the general price level, the inflation rate, the economic growth rate, the interest rate, the tax rate, etc.)
Branch of the economy- a set of firms that produce homogeneous products and perform homogeneous functions in the national economy
"stock" variables- variables that are measured at a certain point in time and show the stock available at that moment. Examples of "stock" variables are the amount of money in the economy, the value public debt, the accumulated stock of capital, the amount of accumulated wealth, the size of the labor force, etc.
"flow" variables- variables whose values refer to the whole time interval, i.e. show the change in the "stock" for the period. “Flows” are all types of income, expenses, and the difference between income and expenses (for example, savings, firm profits, balances state budget).
Political variables - variables of public administration, called, in macroeconomic models are exogenous
Consumer spending(С ) is household expenditures for goods and services that meet their needs
Intermediates are products that are sent to further production process or resale
Intermediate consumption- the cost of raw materials, materials and services purchased by the manufacturer from third parties and transformed or completely consumed in the process of producing its own products (such as flour in the production of bread)
Surplus (surplus) of trade balance - situation in the national economy,
which occurs if export revenues exceed import costs (Ex > Im), which means that there is an outflow of capital from the country, in this case the country acts
creditor
Disposable personal income - DPI (DPI) - is the income used, i.e. find-
available households
Real GDP (Y R ) is GDP measured at comparable (constant) prices, in base year prices:∑
Residents are all economic units (physical and legal entities) regardless of their nationality and citizenship, who have a center of economic interest in the economic territory of a given country (are engaged in industrial activities or reside in the country at least one year).
Market of goods and services (commodity market) is a market in which there is a formation of demand and supply of goods and services
Sector of the economy- this is a significant part of the national economy, the elements of which have similar goals, functions and behavior, which makes it possible to distinguish it from other parts of the country's economy. Allocate: according to the form of ownership - state and the private sector; in appearance economic activity- real (producing goods) and financial (associated with the activities of financial institutions); depending on the type of products produced: primary (extraction of raw materials), secondary (manufacturing industry, construction) and tertiary (service sector); according to the degree of connection with the market - market and non-market sectors
System of National Accounts (SNA)- methodology for describing the processes taking place in the country's economy, and the most important cash flows using a system of interrelated tables - national accounts - and a set of indicators (GDP, GNI, disposable income, etc.)
The rate of change in the cost of living () - indicator equal to the ratio of the difference between the consumer price index of the current and previous year to the consumer price index of the previous year, expressed as a percentage:
Inflation rate () - an indicator equal to the ratio of the difference in the price level (for example, the GDP deflator) of the current and previous year to the price level of the previous year, you
expressed as a percentage:
Transfers are payments that households and firms receive free of charge (not in exchange for goods and services) from the state and other economic agents.
Three-sector circuit model- a model showing the main relationships and interactions of households, firms and state structures in commodity, resource and financial markets in a closed economy
Leaks (seizures) - part of the income earned in the production of goods and services, not spent by households on consumption and thus "withdrawn" from the circulation of income and expenses. These include private sector savings, taxes and import costs.
Financial market- this is a market in which demand is presented and supply of financial assets is ensured, it includes: the money market and stocks and bods market(non-monetary financial assets)
Firms are an aggregate, rationally acting macroeconomic agent, the purpose of which economic activity is profit maximization
Net investment (In)- This additional investments those. expenses increase
the size of the capital of firms
Net factor income from abroad (NFI) - an indicator equal to the difference between the income earned and received by citizens of a given country from the use of national factors in other countries, and the income earned by foreigners from the use of their (foreign) factors in the territory of this country
Net exports (Хп ) is the difference between export earnings (Ex ) and the country's import costs (Im ) and corresponds to trade balance:
Xn \u003d Ex - It
exogenous variables- these are variables that are set from the outside, the value of which is formed outside the model; This independent quantities, their change is called autonomous
change
Economic resources (factors of production) - economic (i.e. limited-
nye) goods that are necessary for the production of all other goods and services: natural resources, physical capital, labor, entrepreneurial ability
Export of goods and services(Ex) - sale of goods and services produced in the territory of the country to non-residents
endogenous variables- these are variables, the value of which is formed inside the model; these are the dependent variables
9.2 Review questions
1. What does macroeconomics study? How is it different from microeconomics?
2. What are total expenses, total income?
3. What is the relationship between total expenditures, income and gross output?
4. What is GDP? How is it different from CVP? from GNP?
5. What is the difference between final and intermediate goods?
6. What methods of calculating GDP do you know? Describe them.
7. What is value added? How is it used in calculating GDP?
8. What is the problem of double counting?
9. What is the consumer price index? How is it calculated?
10. How is nominal GDP different from real GDP?
11. What is the GDP deflator? How is it calculated?
12. What is the difference between price indices calculated using the Laspeyres and Paasche method? What are the disadvantages of these indexes? How to eliminate these shortcomings?
13. What is National Income? How is this concept different from the concept of personal income?
14. How are personal income and disposable personal income related?
15. What are the reasons why the GDP indicator does not always accurately characterize the well-being of the nation.
9.3 Task examples
9.3.
GROSS NATIONAL INCOME DIFFERS FROM GDP IN THE BALANCE .. a) wages received by residents from non-residents and paid to non-residents b) property income received by residents from non-residents and paid-
paid to non-residents c) capital transfers received by residents from non-residents and paid to non-residents
d) current transfers received by residents from non-residents and paid to non-residents e) taxes on income received by residents from non-residents and paid to non-residents
Rationale:
Gross national income GNI differs from GDP by the amount of net factor income from abroad, which is the difference (balance) between income from national factors in other countries (i.e. income received by residents from non-residents) and income from foreign factors in the territory of this country (i.e. income paid to non-residents). Factor incomes are wages and income from property, transfers and taxes are not included in factor incomes.
Answer: a, b
STOCK VARIABLES ARE: a) inflation rate b) taxes c) savings
d) national wealth e) public debt
Rationale:
Stock variables include quantities measured at a specific point in time, these are savings, national wealth and public debt;
the inflation rate and taxes are measured over time, so they are flow variables
Answer: c, d, d
WHEN CALCULATION OF THIS YEAR'S GDP DOES NOT TAKE INTO ACCOUNT a) assistance to the student from parents b) the student's earnings from the sale of newspapers
c) the student's income from the sale of his jacket d) the student's education grant e) the student's scholarship
Rationale:
GDP does not take into account transfer payments (student support from parents, education grant, student scholarship) and the value of goods produced in previous years (student jacket).
Answer: a, c, d, d
9.3. 2 Choose the only correct answer:
BUYING A NEW HOUSE OUTSIDE THE CITY BY A FAMILY WILL BE AFFECTED ON THE VALUE:
a) net exports; b) government spending;
c) investment expenses; d) spending on consumer durables.
Rationale:
IN SNA costs for the purchase of residential buildings are considered investments, so investment costs will increase.
Answer: in
WHEN CALCULATION OF GDP BY EXPENDITURE, ALL THE LISTED EXPENDITURE COMPONENTS ARE SUMMED EXCEPT:
a) net investment; b) household spending on the purchase of durables; c) teachers' pensions;
d) the cost of consumed fixed capital.
Rationale:
Teachers' pensions are transfer payments, they are not included in the calculation of GDP
Answer: in
DURING THE PREVIOUS TWO YEARS, NOMINAL GDP INCREASED FROM $500 BILLION UP TO $560 BILLION GDP DEFLATOR CHANGED FROM 125% TO 140% IN THE SAME TWO YEARS. THIS MEANS THAT REAL GDP:
a) has not changed b) increased; c) decreased;
d) there is not enough information.
Rationale:
IN the first year, real GDP was:
In the second year, real GDP was:
This means that real GDP has not changed.
Answer: a
9.3.3 Determine if the following statement is true or false:
INCREASING NOMINAL GDP IS NOT NEEDED TO BE ACCOMPANIED BY REAL GDP GROWTH.
Rationale:
faster than nominal GDP (numerator), then real GDP (fraction value) may decrease
Answer: right
NET INVESTMENT IS EQUAL TO THE SUM OF GROSS INVESTMENT AND CONSUMPTION OF FIXED CAPITAL.
Rationale:
By definition, net investment (In) is the total (gross) investment (Ig), cleared of the cost of capital consumed (A), i.e. In = Ig - A Answer: incorrect
IF WAREHOUSES OF ENTERPRISES HAVE INCREASED THE STOCKS OF PRODUCED THIS YEAR BUT NOT SOLD PRODUCTS, THIS LEADS TO A DECREASE IN THIS YEAR'S GDP.
Rationale:
If in the warehouses of enterprises the stocks of goods produced in this year, but not sold products, this means an increase in investment in inventories, which are part of investment costs (I ). Their growth can lead to GDP growth, since Y = C + I + G + Xn Answer: false
9.3.4 Insert missing words:
IF THE GOVERNMENT BUILD A HIGHWAY BY THE BUDGET, THERE IS _____ (INJECTIONS/LEAKAGES) INCREASED
Rationale:
The construction of the highway at the expense of the budget means an increase in government purchases; this means an increase in the flow of expenses, i.e. growing injections Answer: injections
IF A FIRST-YEAR STUDENT BOUGHT A TEXTBOOK NECESSARY TO HIM FROM A SENIOR, THEN THE COUNTRY'S GDP _____ (WILL INCREASE / DECREASE / REMAIN UNCHANGED)
Rationale:
A used textbook is not a final product, its cost will not be included in GDP, so this figure will remain unchanged Answer: will remain unchanged
WHEN INFLATION IS GROWING IN THE COUNTRY _____ (NOMINAL / REAL) INDICATORS ARE DECREASED
Rationale:
If inflation rises, current market prices will also rise, which means that nominal indicators will also rise. To obtain real indicators, it is necessary
it is necessary to carry out a deflation operation (reducing the price level of the current year to the price level of the base year), because real indicators decrease Answer: real
9.3.5 Solve the problem:
In an open economy, total output is $4,000 billion, consumer spending- $2,600 billion, investments - $900 billion, government purchases - $850 billion, net taxes - $800 billion
Determine the amount of private savings.
From the identity of injections and leaks for an open economy
I + G + Ex = S + T + Im
define the amount of private savings:
S \u003d I + G + Ex - T - Im \u003d I + G - T + (Ex - Im) \u003d I + G - T + Xn
Net export Xn = Ex - Im is determined from the identity of the total output and total expenditures
Y=E= C + I + G + Xn
Xn= Y - C - I - G = 4000 -2600 - 900 - 850= -350
S=900 + 850 + 800 – 350 = 600 (billion dollars)
Answer: $600 billion
In a closed economy, consumer spending is $1000 billion, private savings is $100 billion,
state purchases of goods and services - 300 billion dollars, and the state budget is balanced.
Determine the value of the total output
For a closed economy Xn=0
the state budget is balanced →G =T Y - ?
The value of the total output will be determined from identities of total output and total expenditures
Y=E= C + I + G + Xn
The amount of investment is determined from injection and leakage identities for a closed economy
I = S+T - G = 100 + 300 -300 = 100
Y=1000 +100 +300 =1400 (billion dollars)
Answer: $1400 billion
Assume that a country produces and consumes 3 goods. The table shows the quantity and price (per unit) of each of them for 2 periods
Calculate the Laspeyres, Paasche and Fischer indices (2002 - basic).
The Laspeyres index is a price index with weights for the base period, i.e. 2002. General form index:
The Paasche index is an index with weights for the current period, i.e. 2008. General view of the index:
p tq t
1 Р = i i100%
pi 0 qi t
in this case:
I Р = 15 8 24 7 425 5 100% 68.09% 10 8 27 7 655 5
The Fisher index averages the result:
I F I l I P = 70.45 68.09 69.26%
Answer: 69.26%
9.4 Assignments for independent work
9.4. 1 Select at least two answers:
THE STATE IS A BORROWER IN THE FINANCIAL MARKET IF:
a) government spending exceeds tax revenues to the budget; b) government revenues exceed its expenditures; c) there is a deficit in the state budget; d) there is a trade deficit
IN THE TWO-SECTOR CIRCULATION MODEL, HOUSEHOLDS:
a) buy the services of factors of production from firms; b) sell the services of factors of production to firms; c) buy products from firms; d) sell products to firms; e) Answers a and d are correct.
THE MACROECONOMIC MARKETS ARE: a) the money market; b) labor market; c) the foreign exchange market;
d) the world gold market; e) financial market.
ABSOLUTE MACROECONOMIC INDICATORS DO NOT APPLY TO:
a) the income tax rate; b) the state budget deficit; c) the rate of interest; d) the unemployment rate; e) the rate of inflation.
INDICATE WHAT THEORIES AND PROBLEMS ONLY STUDY MACROECONOMICS; a) the public debt theory.
b) the theory of monopolistic competition. c) consumer behavior.
d) the theory of the world economy e) the theory of money.
f) the theory of labor demand and labor supply.
INDICATE WHICH OF THE LISTED INDICATORS ARE RESERVES INDICATORS.
a) personal disposable income. b) public debt.
c) the value of inventories of firms. d) household savings.
e) the amount of capital.
INDICATE WHICH OF THE LISTED VARIABLES ARE GENERALLY ENDOGENOUS:
a) transfer payments b) tax revenues
c) gross domestic product d) investment spending e) tax rates
9.4.2 Choose the only correct answer:
MACROECONOMICS, UNLIKE MICROECONOMICS, DOES NOT STUDY: a) long-term trends in the development of the economy; b) short-term fluctuations in the economy;
c) the behavior of consumers and producers in the markets of individual goods; d) regularities in the formation of supply and demand in the securities market; e) there is no correct answer.
IN THE ECONOMIC MODEL:
a) both exogenous and endogenous variables are fixed when they are introduced into
model; b) both exogenous and endogenous variables are defined within the model;
c) endogenous variables affect exogenous variables; d) exogenous variables affect endogenous variables; e) endogenous variables are set outside the model.
INDICATOR OF THE FLOW IS NOT: a) disposable income; b) money supply; c) taxes; d) profit;
e) there is no correct answer.
RELATIVE MACROECONOMIC INDICATORS ARE:
a) money supply; b) taxes;
c) the rate of economic growth; d) national income; e) unemployment benefit.
IN A TWO-SECTOR MODEL OF THE ECONOMY:
a) household savings are a withdrawal from the circulation; b) investment is an injection; c) withdrawals in the form of savings are equal to injections in the form of investments; d) all previous answers are correct; e) there is no correct answer.
THE ECONOMY THAT INTERACTS WITH THE ECONOMIES OF OTHER COUNTRIES IS CALLED:
a) an economy with a balanced trade balance; b) an exporting economy; c) importing economy; d) a closed economy; e) an open economy.
IF THE COST OF STEEL, PAINT, INSULATION AND ALL OTHER COMPONENTS USED IN THE MANUFACTURE OF ELECTRIC STOPS IS INCLUDED IN THE MEASUREMENT OF GDP, THEN THIS INDICATOR IS:
a) too high due to the problem of double counting; b) accurate, since each individual component is included in market operation; c) too small due to the problem of double counting;
d) it is impossible to say for sure, since the inflation rate is not known.
IF CURRENT YEAR PRICES ARE LOWER BASE YEAR PRICES, THEN REAL GDP:
a) is equal to nominal GDP; b) less than nominal GDP;
c) exceeds nominal GDP; d) impossible to determine.
IF C = $400, Ig = $70, G = $50, Xn = $25, Ex = $60, THEN GNP IS EQUAL: a) $520; b) $495; c) $545; d) $605.
9.4.3 Determine if the following statement is true or false:
THE FINANCIAL MARKET IS A MARKET WHERE INVESTMENT TURNS INTO SAVINGS.
PUBLIC DEBT IS A FLOW INDICATOR BECAUSE ITS VALUE CAN CHANGE YEARLY.
MACROECONOMICS UNLIKE MICROECONOMICS IS NOT BASED ON THE PRINCIPLE OF RATIONAL BEHAVIOR OF ECONOMIC AGENTS.
Theme "National economy: goals and results of development"
1. The purpose of macroeconomic analysis is:
D) Research of the national economy as an integral system;
2. Macroeconomics, as a section of economic theory, studies:
C) The behavior of the national economy as a whole in terms of ensuring conditions for sustainable economic growth, full employment of resources and stability general level prices;
3. A Russian citizen temporarily works in the USA, in an American private company. His income is included in:
a) Russian GDP and US GDP
4. Gross domestic product serves as an indicator of:
D) The market value of the gross output of final goods and services in the country;
5. Nominal GNP is the value of goods and services measured in:
a) current prices
6. The national income (GNI) of a country is:
C) The total of primary income received by all participants in the production in various forms
7. What is gross domestic product (GDP):
e) the sum of all final goods and services produced in the territory of the country by both domestic and foreign producers.
8. GDP differs from GNP in that it includes:
a) only final products produced domestically by national and foreign producers
9. Real GDP is measured in:
E) Base period prices.
10. GDP is the sum of the prices of all goods and services:
C) Produced during the year in the country;
11. To calculate the company's contribution to the created GDP, calculated by the amount of value added, it is necessary to subtract from the market value of the created products:
C) Costs for the purchase of raw materials, materials, semi-finished products, fuel, energy, etc.;
12. The maximum possible volume of gross domestic product for the year is most often limited to:
D) Insufficient production resources.
13. The GNP deflator is equal to the ratio:
b) nominal GNP to real
14. Despite the harsh repressive measures taken by law enforcement agencies against the dealers of the shadow economy, it is reborn again because:
C) Profits from the underground business are very high;
15. The national wealth of the country is:
E) The totality of material, intellectual and spiritual values that a country has at every stage of its development, including natural resources involved in economic turnover.
16. To determine the amount of national income you need:
b) subtract from GNP the amount depreciation charges per year, the amount of indirect taxes and government subsidies
17. GDP volume indicator:
A) reflects the possible level of well-being in society
18. To go from GNP to NNP, subtract from GNP:
A) depreciation
19. Real GDP is the value of final goods and services produced in a country in a year, calculated:
B) at basic prices
20. A citizen of Finland, permanently residing in St. Petersburg, annually receives dividends on the shares of a Finnish corporation he owns. This income is included in:
a) Finland's GNP
d) Russian GDP
21. What scientific works represent macroeconomics:
A) Klas Eklund "Efficient economy. The Swedish model". M., 1991
B) A. Pigou "The Economic Theory of Welfare". T. 1. 2 M., 1985
E) DM Keynes "The General Theory of Employment, Interest and Money". M., Progress, 1978
22. If the volume of nominal GNP and the price level increased, then:
e) this information does not allow to determine how GNP has changed
23. Indicate what shifts in the economy led to a change reproductive structure(numbers are hypothetical):
B) The ratio between the production of means of production and the production of consumer goods has changed from 75:25 to 60:40;
E) Gross investment into the economy increased from 15% to 20% of GDP.
24. Which of the following values is included in the GNP, calculated by the amount of expenditure:
a) public procurement
b) gross investment
d) net exports
25. Find relevant definitions for the following categories:
- a) end product
- b) gross domestic product
- c) net national product
- d) gross national product
1. GNP minus depreciation (3c)
II. The sum of all goods and services produced by national producers in the country and abroad (4d)
III. The sum of all goods and services produced in the country by domestic and foreign producers. (2b)
IV. Goods and services purchased for final use.(1a)
26. The volume of the gross national product can be calculated:
a) through income
b) through expenses
c) through production (value added)
27. The ultimate goal of macro economic development is:
d) raising the living standards of the people on the basis of economic growth.
28. What is net exports:
e) the difference between exports and imports.
29. If the volume of real GDP decreased this year by 5% compared to last year, and the population decreased by 3% in the same year, then real GDP per capita per population:
a) decreased
30. What prices are used in the analysis of the dynamics of GNP by years:
b) comparable
31. The calculation of GDP by production makes it possible to determine:
c) the contribution of each industry to the creation of GDP.
32. National income includes:
b) corporate profits
c) rent payments
f) interest on capital
33. Transfer payments are:
a) allowances
b) pensions
e) scholarship
Theme "Fundamentals of the dynamics of the national economy"
1. Economic growth is measured by the following indicators:
c) The growth rate of national income per capita
2. Economic growth can be illustrated by:
c) the movement of a point along the production possibilities curve;
3. Supporters of the theory of economic growth give the following arguments in defense of their concept:
a) economic growth leads to higher living standards;
4. In Keynesian theory, the main source of economic growth are:
A) Investments
D) Savings of the population
5. Highlight the demand factors that affect economic growth:
a) income level
d) the level of taxes;
e) the propensity of the population to save.
6. What factors are intensive factors of economic growth:
b) improving the quality of the labor force;
c) improvement of technologies;
e) improving the quality of material capital;
f) improving the organization and management of production and marketing.
7. The two-factor model of economic growth includes:
A) labor and capital
8. Rates of economic growth of the USSR in 70-80s. of the twentieth century were determined:
B) government plans
9. The main tool for overcoming the economic downturn:
c) increased state intervention in the economy.
10. When it comes to the business cycle, it means:
c) the period of time between two crises
11. The frequency of crises is based on:
a) the rate of obsolescence of fixed capital
12. What policy builds a policy of ensuring economic growth on stimulating aggregate demand:
b) Keynesian
13. The essence of the acceleration principle is that:
b) small changes in the demand for consumer goods lead to a sharp change in demand for services
14. The crisis that Russia experienced in the 90s of the 20th century was mainly:
c) transformational character.
15. The main indicators of economic growth are:
a) an increase in national income
d) GDP growth,
e) GDP growth per capita.
16. The main condition for ensuring a new quality of economic growth is:
C) Acceleration of scientific and technical progress
17. The new quality of economic growth is carried out mainly due to:
18. Find the relevant definitions:
4 a) economic growth
3 b) intensive economic growth
1 c) extensive economic growth
2 d) business cycle
1. Increasing production and consumption, attracting additional labor and additional funds production.
2. The period of time from one crisis to another.
3. Increasing the volume of production and consumption through the use of the achievements of scientific and technical progress.
4. Increasing the volume and structure of production and consumption due to their qualitative improvement, leading to an increase in welfare in the country
19. The slowdown in economic growth leads to:
B) a decrease in the standard of living in the country
20. Find a correspondence between the phases of the classical economic cycle and the following phenomena:
1 a) crisis
3 b) depression
4 c) revival
2 d) rise
1. Overproduction of goods
2. Growth in production, higher prices and reduction in unemployment
3. Suspension of falling prices and rising interest rates
4. Slight increase in production level
21. What activities does the state carry out in the recession phase:
c) an increase in government spending
22. Features modern structure Russian economies are:
a) accelerated development of extractive industries
c) accelerated development of trade and intermediary activities
23. In last years V modern Russia there is a clear trend:
a) to equalize the levels of economic development of the regions
24. The structure of the national economy must comply with:
c) the structure of society's needs
25. Basic Proportion reproductive structure of the economy:
c) the proportion between consumption and accumulation in the national income
26. Regulation of the structure of the economy in market conditions is carried out mainly:
a) economic methods
27. Economic growth is intense if:
c) the growth of labor productivity outstrips the growth in the number of employees
28. The numerical value of which of the following indicators decreases after the start of the ascent and growing after the recession:
a) volume inventory in the manufacturing industry
29. High rates of economic growth are achieved through:
a) maximum use of all intensive factors of development
30. Intensive factors of economic growth include:
c) the introduction of more productive equipment and technology
31. Extensive factors of economic growth include:
d) increase in the shift ratio
32. Cycles duration 45-60 years investigated:
d) Nikolai Kondratiev
Topic "Mechanism of macroeconomic balance"
1. What factor will cause the curve to shift aggregate supply:
A) Natural disasters led to the loss of 30% of the capacity in the mining industry
2. Where will the aggregate supply curve shift with the accelerated development of scientific and technological progress:
A) right
3. What led to the shift of the aggregate demand curve to the left in Russia during the years of economic reforms:
A) Falling output
D) A radical reduction in investment in industry
4. A shift in the aggregate demand curve occurs when:
B) people's incomes are growing
5. On the graph of aggregate supply vertical section reflects:
A) full time in the ascent phase:
6. Increase savings according to the identity I = S leads to:
A) GDP growth
7. The sum of marginal propensities to consume and save is equal to one:
D) always
8. The government this year increased spending on education by reducing the cost of maintaining the state apparatus. Consequently:
D) ND, GDP have not changed.
9. In accordance with the multiplier theory, the increase in NNP is greater than the increase in investment due to the fact that:
B) The growth of investment also increases other components of aggregate demand;
10. Necessity state regulation macroeconomic equilibrium is first substantiated in theory:
B) Keynesians
11. A shift in the aggregate demand curve can occur under the influence of a change:
B) Income
12. Aggregate demand consists of:
A) personal consumption
D) Investments
G) Government spending
H) Net exports
13. Between the price level in the country and aggregate demand there is:
B) inverse relationship,
14. Investment costs in aggregate demand depends on:
A) interest rates
B) expected profit
d) The level of taxes
15. The aggregate supply curve consists of:
B) three segments,
16. The Keynesian (horizontal) segment of the aggregate demand curve in the short term is characterized by:
B) Excessive resources
17. The intermediate section of the aggregate demand curve is characterized by:
A) rising prices
18. The vertical segment of the aggregate supply curve reflects:
A) full time job
D) Absence of reserves of production factors
19. The shift in the aggregate supply curve is influenced by:
B) Growth in labor productivity
D) Rising prices for resources
20. The marginal propensity to consume is:
a) the share of consumption in each additional unit of disposable income.
21. The marginal propensity to save is:
c) the share of savings in each unit of additional income.
22. The marginal propensity to consume can be equal to:
b) One
23. The sum of consumption and savings in society is equal to:
b) income
24. Increasing consumption simultaneously reduces:
c) saving
25. The main factor on which investments depend:
B) Interest rate
26. Mark the reasons that directly affect investments in Russia
A) Low profits of enterprises
B) Low level income of the population
D) high taxes
27. The equilibrium state of the market economy is maintained through:
A) the market mechanism
B) government regulation
28. Sources of investments are:
a) people's savings
b) bank loans
d) business profits.
29. Investment in human capital include:
b) construction of hospitals
30. The investment structure always corresponds to:
A) the goals and objectives of the development of society:
31. Factors shifting the aggregate demand curve to the right:
e) an increase in the money supply in the country
32. The Keynesian segment of the aggregate supply curve is characterized by:
b) change in the volume of GDP at constant prices
33. The classic segment of the aggregate demand curve is characterized by:
d) a change in the price level with a constant volume of GNP
The theme is "Inflation and Unemployment".
1. Choose from the listed options those that characterize the inflationary rise in prices.
c) there is a process of depreciation of money, as a result of the overflow of circulation channels with money supply;
2. Suppressed inflation manifests itself as:
a) deterioration in the quality of goods and services at stable prices for them;
c) development of the "black market";
e) chronic shortage of goods;
3. Inflation is:
A) devaluation of money
D) Rising prices
4. Modern economic theory highlights the costs of inflation, called the "cost of worn shoes." These include:
c) more frequent visits by the population to banking institutions to withdraw money from accounts;
5. Okun's Law states that:
C) GNP affects the unemployment rate
D) Unemployment affects the size of GNP
6. The main goal of the state anti-inflationary policy is:
c) bringing inflation to a moderate level;
7. Unemployment is understood as:
b) involuntary unemployment;
e) imbalance between supply and demand in the labor market.
8. The unemployed include:
B) fired, but constantly looking for work
D) young people looking for a job for the first time
9. The unemployment rate (in %) is defined as the ratio of the total number of unemployed to:
a) the working population
10. Upon reaching full employment:
B) there may be natural unemployment
11. Negative economic consequences unemployment is:
b) defending the real GNP from the potential;
d) underutilization of the economic potential of society;
12. The relationship between the unemployment rate and the volume of GNP was identified and studied:
d) A. Oken;
13. "Phillips Curve" demonstrates the relationship between the level:
c) inflation and unemployment;
14. What is primary in the development of inflation:
a) An increase in the money supply
15. Which of the definitions most fully reflects the content of inflation:
c) Depreciation of money, accompanied by the loss of part of their functions
e) Decrease in the purchasing power of money with a simultaneous rise in prices.
16. Open inflation is characterized by:
a) Constantly raising prices
c) Washing out of the range of cheap goods
17. Select a control measure from the following with negative consequences unemployment:
c) large-scale use of public works paid for by the budget;
18. The Phillips curve characterizes:
C) Relationship between unemployment and inflation rates
19. As an indicator of the inflation rate in the country, the following is used:
c) Consumer price index
c) Change in the average price level
21. Demand-pull inflation occurs when:
c) when an increase in demand cannot be met by an increase in supply due to a lack of reserves of production factors
22. Which population group benefits from inflation:
c) Borrowers
23. The mechanisms of open inflation that ensure its reproduction are:
a) Mechanism of adaptive inflation expectations
c) Demand-pull inflation
d) cost-push inflation
24. Hyperinflation occurs when the annual price increase is:
25. The consequences of inflation for the population are:
a) Declining standard of living
c) Loss of savings
26. Anti-inflationary strategy affects:
c) On the causes of inflation
27. Anti-inflationary tactics involves:
c) a decrease in demand without a decrease in supply
28. Which of these people is considered unemployed:
b) Who looks through the newspapers in search of a suitable job
d) Who is fired and has been looking for a job for 3 months.
29. Stagflation is:
B) Simultaneous rise in inflation and unemployment
30. Demand inflation can be caused by:
d) an increase in the country's income with a lagging increase in output
31. American economist Arthur Oken showed the relationship between:
d) changes in the number of unemployed and the volume of GNP
32. If the total population is 100 million people, the labor force is 50 million, and the actual working population is 47 million, then unemployment will be:
33. Cyclical unemployment also called:
d) unemployment of insufficient demand
Theme "Finance and financial policy of the state"
1. If the government annually strives for a balanced budget, then such a budget:
- will amplify fluctuations within the economic cycle;
2. From the listed opportunities to reduce the tax burden, determine legal:
A) accounting for the non-taxable minimum of the object of taxation
B) exemption from taxation of certain elements of the object of tax
C) tax exemption for individuals
E) the use of certain benefits to reduce tax rates
3. The main source of formation off-budget funds (For example pension fund) are:
b) Income of legal entities
c) Income of individuals
4. The state budget deficit is formed when:
b) the amount of government spending exceeds the amount of revenue
5. What should you do if there is a budget deficit and you do not want negative consequences for the country:
B) cut government spending
E) Improve the tax collection system without changing tax rates.
6. Is it correct to say that covering the budget deficit increases inflation in the current period:
b) Correct only in certain cases, depending on how the deficit is covered
7. What can lead to a state budget deficit:
a) high government spending
b) low tax rates;
c) rising unemployment
d) low incomes of the population
8. When the state has a budget deficit, it can be argued that:
b) it is possible for the state to conduct any type of fiscal policy
9. Public debt management includes:
a) efficient use of borrowing funds
c) search for other means of payment
10. The most important source of income federal budget in a market economy is:
D) Value Added Tax
11. The most important direction of state budget expenditures (as a percentage of the amount of expenditures):
a) Financing social programs
12. If the government intends to increase the level of real NNP through fiscal policy, it can:
- reduce taxes;
e) increase government spending
13. Pronounced anti-inflationary fiscal policy suggests:
- higher levels of taxation and cuts in government spending;
14. An annually balanced budget assumes that:
a) income must be equal to expenses
15. The advantage of built-in stabilizers is that they act:
a) automatically
16. Multipliers work in fiscal policy:
a) government spending
c) Balanced budget
d) tax
17. Increasing taxes leads to:
b) to a decrease in consumption and aggregate demand
18. Discretionary fiscal policy includes the following tools:
a) government spending
b) change in tax rates
19. Balancing the budget for the cycle involves:
B) Equality of income and expenses during the industrial cycle
20. Principles of income taxation:
a) depending on the amount of income
21. Fiscal policy is:
A). The policy of manipulating taxes and government spending in order to maintain an equilibrium NNP
22. The Laffer curve shows the relationship between the tax rate and:
B) The amount of profit of enterprises (taxable base)
23. Balancing the state budget using the "Functional Finance" method involves:
C) Balancing the structure and increasing the efficiency of the national economy.
24. The main source of state budget revenues in a market economy is:
A) income tax
25. An increase in government spending equal to the amount received from an increase in taxes leads to an increase in NNP. This is the action of the multiplier:
D) Balanced budget
26. What functions do taxes perform:
A). fiscal
b) stimulating
c) social
27. Decrease tax rate causes profit:
A) an increase in the budget deficit
B) increasing the level of output
B) increase investment
28. Discretionary fiscal policy involves:
d) conscious regulation of taxation and public spending
29. An increase in government spending allows:
d) increase the volume of GNP
30. The tax multiplier shows:
d) changes in GDP due to changes in taxes
31. An increase in taxes, other things being equal, leads to:
b) reduction in disposable income of the population
Topic "Money market and monetary policy of the state"
1. Assume that every dollar held for transactions is circulated an average of 4 times a year and is used to purchase final goods and services. The nominal volume of GNP is 2 billion dollars. Determine the amount of demand for money for transactions.
a) $0.5 billion
2. If money for transactions makes an average of 5 revolutions per year, then the amount of money needed in circulation
b) is 20% of nominal GNP;
3. The allocation of aggregates M1, M2, M3 is based on:
A) The degree of their liquidity
4. If the interest rate ceiling is set below its equilibrium level by law, this will lead to:
a) lack of credit resources of banks;
5. If the nominal volume of GNP decreases, then:
b) The demand for money for transactions and the overall demand for money will decrease.
6. When central bank sells government securities:
d) Credit resources of commercial banks are decreasing
7. In the context of a steady rise in prices, the demand for money:
a) is increasing
8. Which of the operations of the Central Bank increases amount of money in circulation?
d) the Central Bank buys state. bonds on the open market.
9. Under the influence of which the value of money changes over time:
a) inflation
10. Which listed means of payment are included in the M1 aggregate:
b) Metal money in hand
c) Banknotes in hand
e) Current bank account.
11. Which of the following applies to monetary policy?
b) control over the money supply;
d) control of terms and conditions of crediting
e) the impact on investment through a change in the interest rate.
12. Central bank sells government bonds commercial banks and the population. What happens to the credit resources of commercial banks:
b) decrease
13. Central bank sells government bonds on the open market. What happens to the money supply:
B) decreases
14. Central bank sells government bonds on the open market. What happens to the bank interest rate:
b) increases
15. The central bank reduces the discount rate. What is happening with the demand for loans:
a) is increasing
16. The concept of "Demand for money" means:
D) The total demand for money for transactions and the demand for money as assets.
17. What will affect the demand for money for transactions:
A). Growth in nominal gross national product.
B). Increasing the velocity of money circulation.
18. Demand for money from assets:
b) inversely proportional to the interest rate;
19. What happens when you use a dear money policy:
B) an increase in the cost of credit;
D) an increase in production costs;
D) decrease in entrepreneurial activity
20. The real interest rate is:
B) Bank rate minus the inflation rate.
21. The purpose of monetary regulation is to regulate:
a) inflation
d) bank interest
22. What will reduce amount of money in circulation:
B) Sale of government securities by the Central Bank to the population and banks
23. The term "open market operations" means:
c) purchase or sale of government securities by the Central Bank
24. The term "discount rate" means:
IN) interest rate for which the Central Bank provides loans to commercial banks.
25. The increase in the discount rate is aimed at:
A) to reduce the total amount of credit resources of commercial banks
26. If the Central Bank seeks to reduce money supply, then the discount rate:
b) is increasing
27. The money supply depends on:
B) aggregate demand for money
B) the rate of turnover of one monetary unit
28. Which of the listed items will correspond to the monetary aggregate M 1?
c) cash and checks
29. credit system countries include:
A) the banking system
D) non-bank credit organizations
30. What functions does the Central Bank perform:
a) Money issue
c) Money control
d) Control over the activities of commercial banks
31. Main tools monetary policy are:
a) Discount rate
d) Required reserve ratio
e) Operations of the Central Bank on the open market.
32. The most rapid impact on the economy has:
c) open market operations
33. If it is necessary to reduce the value of the money supply multiplier, then you need to:
b) increase the required reserve ratio
34. The term "open market operations" means:
d) sale or purchase by the Central Bank of government securities
Topic “Social policy of the state and income distribution”
1. The level of inequality in society increases if the Gini index:
1) tends to unity;
2. After the state collects taxes and pays social transfers to the population, what will happen to the Lorenz curve:
1) approach the curve of absolute equality
3. If wages have increased by 2 times, and prices by 3 times, then:
3) real income fell;
4. Social policy aims to:
A) the implementation of social protection of a person
C) improving the system of income distribution
5. To reflect inequality in the distribution of income in graphical form, use:
A) the Lorentz curve.
6. The Lorenz curve reflects:
4) distribution of income between families (individuals)
7. The level of inequality in the distribution of income in society is determined by:
8. Specify the most accurate indicator of the standard of living:
1) real per capita income;
9. Individual incomes depend on:
1) labor productivity of the employee;
3) profitability of the sphere of application of labor;
4) social policy of the state;
10. Sources of social assistance are:
A) government funds
B) Employers' funds
C) Beneficiary Funds
11. Distribution relations are relations about distribution:
c) income between participants in production
12. Income redistribution instruments include :
A). personal income tax;
b) regulation of wages;
c) assistance and welfare programs;
13. The following are used as means of income regulation:
a) taxes;
c) payment of allowances, pensions;
e) benefits
14. Minimum size wages are:
b) minimum bid wages
15. Among the effects of social policy listed below, highlight negative effects for economic growth in the future:
a) separate social benefits and transfers reduce incentives to work
c) government spending increases;
d) taxes increase
e) labor force mobility is decreasing;
16. Social assistance is carried out taking into account:
B) need for help
17. The system of state guarantees includes:
3) the right to education and health care;
4) the right to work and rest;
5) the right to labor and family protection
18. If incomes in a society are distributed absolutely evenly, then the Lorenz curve
4) the bisector of the angle formed by the coordinate axes
19. The Gini coefficient is calculated:
3) dividing the area of the figure located between the line of absolute equality and the Lorentz curve, by the area of \u200b\u200bthe triangle located under the line of absolute equality
20. To the main economic methods state regulation of income include:
a) tax policy;
b) price regulation policy;
c) regulation of the minimum wage;
21. Transfers are social payments:
3) from the state budget in the form of pensions, allowances, scholarships provided free of charge unilaterally
22. Establish a correspondence between sources of income and types of income.
Source of income Type of income
B 1) income for the work done A. transfer payments
or work time
E 2) income on loan capital B. entrepreneurial income
D 3) income from the use of land B. wages
and other natural resources
B 4) income on entrepreneurial activity, G. rent
enterprise
A 5) income not related to labor activity D. percentage
23. The absolute poverty line is:
3) living wage
24. Only to social infrastructure relate:
1) housing and communal services;
3) education;
4) healthcare;
25. The social policy of the state is an element of:
A) social security.
26. Socially oriented economy is an economy where:
C) The development of the economy is aimed at solving social problems.
27. The functional distribution of income involves the distribution between:
D) Labor and capital
28. What income distribution does the market economy consider fair:
a) distribution through market mechanisms
29. Public policy distribution of income in a market economy is aimed at:
d) reducing income inequality through their redistribution
30. The most important element of social protection should be:
A) pension
B) temporary disability pay
D) minimum wage
E) benefits for low-income groups of the population
Theme "State in a market economy"
1. Which of the following is one of the reasons that necessitated government intervention in market economy?
b) the presence of a number of areas whose activities fall outside the zone of the market mechanism;
2. Which of the following areas is not covered by the market mechanism?
c) protection of public order;
3. Which of the following requires government intervention in economic processes?
b) the possibility of economic crises
c) protection of the economic interests of the country in the world market;
4. What is the main purpose of government intervention in the economy?
d) increasing the efficiency of the economy and providing conditions for the development of the social sphere.
5. What is among the areas of state intervention in the economy?
a) ensuring rational organization monetary circulation in the country;
b) providing the population with public goods;
c) the need to regulate external effects;
6. What methods of regulation are monetarist:
b) impact on money circulation
7. State regulation of the economy in a market economy:
c) designed to solve problems that the market mechanism is not able to solve
8. Choose which of the following applies to economic functions states?
b) the implementation of the redistribution of income;
c) support for entrepreneurship;
9. Which of the following is the direction of state regulation of a market economy:
a) regulation of income distribution
d) investment promotion
10. The state supports entrepreneurship and competition. What should it do to perform this function?
a) fight against monopolies;
b) support small and medium businesses;
11. In which sectors of the economy is the public sector most often represented:
b) in infrastructure
e) in the extraction of raw materials
f) in research and development.
12. In what areas of economic activity can a state enterprise participate?
c) in all areas;
13. There is a shortage of goods in the country, prices are rising. What should the state do?
b) Stimulate private investment in the creation of new production capacities
14. Which of the following is within the competence of the state to regulate the economy?
a) support for small and medium-sized businesses and the fight against monopoly
15. Why is state intervention in the social sphere necessary:
c) to provide the population with equal starting opportunities in obtaining education;
d) for guarantees in the field of pension provision.
16. Why is government intervention in the economy necessary:
b) for the implementation of functions that complement and improve the operation of the market mechanism;
17. What methods are used by the state to regulate the economy:
b) economic methods;
c) administrative methods;
18. Which of the following is among the tools for implementing the legal methods of state regulation of the economy?
a) the constitution of the country;
b) laws on property and entrepreneurial activity;
d) the tax code.
19. Why does the process of economic legislation require periodic adjustments?
a) because economic ties are changing and improving;
20. What is included in the set of administrative methods of state regulation of the economy?
a) prohibitive measures;
b) restrictive measures;
c) incentive measures.
21. Which of the following forms relate to economic methods of state regulation of the economy:
b) taxes
d) discount rate.
22. Which of the following refers to the characteristics of the administrative methods of state regulation of the economy?
b) these are measures to permit, prohibit, coerce and restrict the activities of economic entities;
23. If the state sets a price for a commodity of prime necessity below the equilibrium market price for it, then:
c) there will be a shortage of this product;
24. The Keynesian version of regulation means the impact mainly on:
b) aggregate demand
25. What tasks does the application correspond to administrative measures regulation:
d) corrects the market mechanism where and to the extent that it is impossible or inefficient to correct it by economic methods
26. Which of the following methods are economic methods of economic regulation?
a) export duties;
c) tax incentives
27. Which of the following could be the main goal of the short-term economic policy states?
c) lowering the rate of inflation.
28. Which of the following is the main goal of the state's long-term economic policy?
c) economic growth.
29. How the state should influence monopolies:
d) should control only prices
30. Which of the following is being developed by the state in a market economy to implement its economic policy:
c) a program for the socio-economic development of the country
31. The need for state intervention in the market economy is due to:
c) the market does not solve a whole range of socio-economic problems
32. Through development state property the state regulates:
b) high technology production
d) production of public goods
33. Economic policy measures include:
b) development and implementation of comprehensive programs
d) stimulation.
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