1) Macroeconomists study all of the following issues except: A. the determinants of inflation B. the relative market shares of General Motors and Ford C. the growth of total production in Fiji. D. the factors of the long-run economic growth 2) What are the tools of Macroeconomics? A. Monetary Policy B. Fiscal Policy C. Income Policy D. All of the above 3) Sam is trying to investigate the reasons as to why Trend Gross Domestic Product rises. What could be some of the reason that would validate the reasons as to an increase in Trend GDP? 4) For the following statements, identify it as either Positive or Normative Statement and provide a reasoning for the choice of your answer: a) Disposable income has declined by 20% over the past four years. b) Higher education should be free. c) Unemployment is more harmful than inflation. d) Raising tax on Corona beer production will have a negative effect on the profits of Corona brewer. e) We must try to boost disposable income. f) Income isn't equal in every country. g) COVID 19 has led to increase in a country's medical sector expenditure. 5) What are the major issues and concerns of macroeconomics? 6) What are the main differences between Microeconomics and Macroeconomics? Page 2 of 2 7) Explain what you understand by the phrase that 'Economic Growth leads to Expanded Production Possibilities'. 8) Mark has recently been laid off from his employment due to COVID 19 pandemic. He was working as a Chef in Hotel XYZ. He is referring to the daily job vacancies that are arising in the newspapers. Would you classify Mark as a discouraged worker? Why or Why not? 9) If the total population of Country CVB is 500,000 and total number of babies are 2,000 with total individuals that are currently working is 300,000, what is the unemployment rate for Country CVB? 10) Use the diagram given below and your knowledge to explain thoroughly the Macroeconomic Issue being portrayed. 11)Match the following terms in Column A with the descriptions given in Column B: Column A Column B 1) Government Deficit Budget a) General decrease in the price level of goods and services. 2) Fiscal Policy b) Number of people employed/total labour force 3) Bad Government Policy c) Taxes and Government Spending 4) Government Surplus Budget d) Tax Revenue < Government Spending 5) International Deficit e) High Unemployment 6) Employment Rate f) General increase in the price level of goods and services. 7) Inflation g) Negative Net Exports 8) Deflation h) Positive Net Exports i) Number of people employed/total population j) Tax Revenue > Government Spending