1 Which of the following is an example of contractionary fiscal policy?

The Federal Reserve increases the money supply by $10B

Congress passes a law to spend $10B on new bridges in California

Congress passes a law to cut spending on the military to reduce the Federal deficit

The Federal Reserve increases nominal interest rates by 5%

2 If Travistan's businesses exported $24B worth of goods in 2019, while importing $22B worth of goods, the country must be a....

net importer

net exporter

booming economy

bad economy

Make sure all words are spelled correctly

3 If you refuse to learn new skills or move to a place where there are more jobs, you will most likely face which type of unemployment in your future?

frictional

structural

seasonal

first home

cyclical

4 Which of the following is an example of expansionary monetary policy?

Congress passes a law to spend $10B on new bridges in California

The Federal Reserve decreases interest rates by 2%

Congress passes a law to increase income taxes by 1% to pay the Federal deficit

The Federal Reserve increases nominal interest rates by 2%

5 If the US continues its recession into 2021, we will mostly likely see an increase in which type of unemployment?

seasonal

first home

frictional

structural

cyclical

6 Which macroeconomic indicator tracks the US inflation rate?

Labor force participation rate

GDP per capita

Unemployment rate

Consumer Price Index

Gross Domestic Product

7 Which of the following products has a very elastic demand curve?

COVID19 Vaccine

a tattoo

linear demand curve

salt, which sells for less than $1 per bag

Internet service