Macroeconomics exam questions? (please help)?

[aenedleah10]

(53)The rate of inflation calculated in Q#52 above measures:
(a)Inflation in the whole economy of a country
(b)Inflation in producers’ prices
(c)Inflation in wholesale prices
(d)None of the above

(54)Suppose a market basket of goods and services costs $400 in the base year and the consumer price index is currently 125. This indicates that the price of the market basket of goods and services is now:
(a)$280
(b)$500
(c)$425
(d)$535

(55)According to the BLS’ household survey, which of the following category represents the largest share of the income of the typical urban family?
(a)Food and Beverages
(b)Education
(c)Housing
(d)Health care

(56)Consider an economy with only two goods: rice and wine. In 1983, the typical family bought 4 pounds of rice at 0.50c per pound and 2 bottles of wine for $9 per bottle. In 2003, rice cost 0.75c per pound and wine cost $10 per bottle. The CPI for 2003(using 1983 as the base year) is:
(a)100
(b)115
(c)120
(d)130

(57)Which of the following would be the consequences of inflation in an economy?
(a)The average real incomes for workers would increase
(b)The average profits of businesses would increase
(c)Borrowers lose and creditors benefit
(d)Nominal investment loses value

(58)If the rate of inflation is equal to 25 percent and the nominal rate of interest is equal to 10 percent, it would be plausible to assert that:
(a)The real interest rate is less than zero
(b)Creditors lose
(c)Savers lose
(d)All of the above

(59)If the rate of inflation in a given time period turns out to be lower than lenders and borrowers anticipated, then the effect will be:
(a)A redistribution of wealth from lenders to borrowers
(b)A redistribution of wealth from borrowers to lenders
(c)A net loss in the purchasing power for lenders relative to borrowers
(d)A redistribution of wealth from savers to investors

(60)Suppose your nominal income in 2008 was 10 percent higher than the previous year. If the rate of inflation for 2008 was 7 percent, then your real income was:
(a)Increased by 7 percent
(b)Decreased by 3 percent
(c)Increased by 3 percent
(d)Increased by 10 percent

(61)Last year the Hassan family earned $80,000. This year their income is $95,000. In an economy with a rate of inflation of 8 percent, we can conclude that the Hassan family’s nominal income:
(a)And real income both decreased
(b)And real income both increased
(c)Increased, but their real income decreased
(d)Decreased, but their real income increased

(62)The real interest rate in an economy where the insurance premium is equal to zero is defined as the:
(a)Fixed interest rate on consumer loans
(b)Expected interest rate minus the rate of inflation
(c)Nominal interest rate minus the rate of inflation
(d)Actual interest rate

(63)Demand-pull inflation is due to:
(a)Minimum wage laws
(b)Labor cost increases
(c)Excessive total spending
(d)A massive tax increase

(64)Which of the following pairs is a type of inflation and a consequence of inflation in an economy?
(a)Hyperinflation and the CPI
(b)Galloping inflation and moderate inflation
(c)Erosion of the value of money and speculation
(d)None of the above

(65)The cause of inflation that resulted from the sharp increase in the price of oil as a consequence of the OPEC’s action in the 1970s is best described as:
(a)Wage-price inflation
(b)Cost-push inflation
(c)Demand-pull inflation
(d)Stagflation

(66)Which of the following statements is false?
During periods of hyperinflation, which of the following situations is most likely to occur in an economy?
(a)The currency is destroyed
(b)The average price level increases in excess of 100 percent per year
(c)Consumers spend money as rapidly as possible
(d)None of the above

(67)Those hurt by inflation in an economy include:
(a)Labor unions with COLA clauses
(b)Borrowers
(c)Savers
(d)Owners of precious metals and works of arts

(68)Which of the following statements is false?
Cost-Push inflation is:
(a)A type of inflation
(b)A consequence of inflation
(c)A measurement of inflation
(d)All of the above

(69)Which of the following statements is false?
Money illusion is:
(a)The tendency for the rate of inflation to be equal to nominal changes in money wages
(b)Another name for Stagflation
(c)The same as the Fisher effect
(d)All of the above

(70)Demand–Pull inflation is most likely to cause inflation when an economy:
(a)Experiences a recession
(b)Experiences less than full employment
(c)Experiences full employment
(d)Galloping inflation

(71)Which of the following type of unemployment is most closely connected with the saying “you can’t teach an old dog new tricks”?
(a)Voluntary
(b)Technological
(c)Structural
(d)Cyclical