1. personal consumption expenditures, gross private domestic investment, and net exports.
2. the sum of wage and salary compensation of employees, interest income, and rental income.
3. the value added of all final and intermediate goods and services produced by the economy in one year.
4. the market value of final goods and services produced by the economy in one year.
5. None of the above

1. prices of goods in Kazakstan are higher than price of the same goods in Russia.
2. depreciation is greater than gross private domestic investment.
3. a nation’s exports of goods and services exceed its imports.
4. a nation’s imports of goods and services exceed its exports.
5. None of the above

1. gross private domestic investment less the consumption of fixed capital.
2. gross national product less net foreign factor income earned in the United States.
3. nominal GDP divided by real GDP.
4. real GDP divided by nominal GDP.
5. None of the above

1. All currency and coin
2. Something generally accepted in trade for stuff
3. A government issued IOU for a specified amount of gold or silver
4. All of the above
5. None of the above

1. inversely related.
2. directly related.
3. unrelated.
4. both stable.

1. AS & AD are shifted to the right.
2. AS & AD are shifted to the left
3. AS is shifted to the right, AD is shifted to the left
4. AS is shifted to the left, AD is shifted to the right
5. None of the above

1. Is associated with classical theory
2. Is implied by Say’s Law
3. Suggests that changes in demand have no real effect on output and employment
4. All of the above
5. None of the above

Y = C + I + G + X – M

Consumer Spending = C = 440 + 0.85Yd

Investment = I = 800

Government Spending = G = 1200

Taxes = T = 1000

Exports = X = 600

Imports = M = 100 + 0.1Yd

1. 8760
2. 8360
3. 2190
4. 11760
5. none of the above

1. 6.67
2. 4
3. 3
4. 0.25
5. none of the above

1. 400
2. -300
3. 0
4. It depends on the income tax rate
5. None of the above

1. 0
2. 376
3. 276
4. we need more information
5. none of the above

1. Increase spending by 160
2. Decrease taxes by 233
3. Increase both spending and taxes by 640
4. Any of the above
5. None of the above

1. Proves that Keynesian economics is wrong
2. Gives support to Keynesian Theory
3. Is especially applicable to long run tendencies
4. All of the above
5. None of the above

1. Rests on an interpretation of the Cambridge Equation
2. Is one of the underlying assumptions of monetarist theory
3. Says that money supplies and prices are closely linked
4. All of the above
5. None of the above

1. Philip’s lectures on Macroeconomics
2. Blackmarket goods
3. The environmental damage caused by economic activity
4. All of the above are included
5. None of the above

1. is only concerned with the impact of inflation on the unemployment rate.
2. studies the aggregate behavior of all decision-making units in the economy.
3. studies neither inflation nor employment but economic growth.
4. All of the above
5. None of the above

1. goods /money/ capital
2. money / bonds / capital
3. economic resources / money income / sales revenue
4. money income / employment / property

1. frictional unemployment.
2. structural unemployment.
3. cyclical unemployment.
4. natural unemployment.
5. None of the above

1. appreciate
2. depreciate
3. remain unchanged
4. the demand for tenge by foreigners will increase.
5. None of the above are likely

1. year 2 is the base year.
2. the rate of inflation from year 1 to year 2 is 113 %.
3. the rate of inflation from year 1 to year 2 is 13 %.
4. more information is needed to determine the rate of inflation.

1. the consumption function and saving line intersect.
2. the planned investment line and the government spending line intersect.
3. spending equals saving.
4. the aggregate spending line intersects the 45-degree line

1. market power.
2. purchasing power parity.
3. monetary trade policy.
4. Exchange rate policy.
5. None of the above

1. Keynesian Economists
2. Monetarists
3. Neoclassical economists
4. All of the above
5. None of the above

Y = C + I + G

C = 40 + 4/5Yd

I = 300

G = 200

T = 250

1. 2700
2. 340
3. the sum of expenditures
4. the value of all fully employed resources
5. None of the above

1. 6.67
2. 4
3. 3
4. 0.2
5. none of the above

1. Supply creates its own demand
2. Investment must equal savings
3. Equilibrium implies full employment
4. All of the above
5. None of the above

1. Adaptive expectations theory
2. Rational expectations theory
3. Monetarism
4. a and c
5. none of the above

1. results in a move along the fixed Phillips curve in the short run
2. shifts the Phillips curve upward in the short run
3. shifts the Philips curve downward in the short run
4. does not shift the Philips curve nor does it result in a movement along the curve in the short run

1. The Phillips curve shows an inverse relationship between the unemployment rate and the rate of inflation
2. "Unemployment rate-inflation rate" trade-off is embodied in the Phillips curve.
3. Supply shocks may shift the aggregate supply curve leftward resulting in stagflation.
4. Stagflation means lower price level accompanied by a decline in unemployment
5. All of the above are true

1. shows the relationship between tax rates and the tax revenues of government
2. suggests that there is a tax rate at which tax revenues are maximized
3. is based on the argument that higher tax rates will decrease incentives for production
4. all of the above is true
5. none of the above is true

1. Keynesian
2. Rational expectations
3. Adaptive expectations
4. Monetarism
5. All of the above

1. the economy remains stable
2. the economy has a reliable self-correction mechanism to cure recessions
3. fiscal policy should be used to manage aggregate demand
4. supply side rather than demand side polices shall be empathized
5. None of the above

1. fiscal policy is ineffective because of the crowding out effect
2. the velocity of money is variable and unpredictable
3. households and businesses make forecasts about the future and the effects of changes in economic polices based on the information available to them and some basic idea about how the economy operates
4. all of the above are true
5. none of the above are true

1. land
2. population
3. capital goods
4. government regulation
5. all of the above

1. monetary rule
2. asset demand for money
3. transaction demand for money
4. velocity of money
5. none of the above

1. medium of exchange
2. store of value
3. standard of value
4. standard of deferred payment
5. none of the above

1. 0
2. 5 million
3. 25 million
4. 75 million
5. none of the above

1. 4 million
2. 25 million
3. by the level of required reserves times the money multiplier
4. by no more than the level of required reserves
5. none of the above

1. -10 million
2. +10 million
3. +25 million
4. –50 million
5. none of the above

1. Decreasing reserve requirements
2. Increasing the interest rates they charge other banks
3. Selling securities on the open market
4. All of the above
5. None of the above