1.

If the prices of G&S increase double compare to previous year, while the quantities
of G&S remain unchanged. We can say, compared to previous year:
a. Real GDP is unchanged and nominal GDP is unchanged
b. Real GDP is unchanged and nominal GDP is double
c. Real GDP increases and nominal GDP decreases
d. Real GDP decreases and nominal GDP increases

2. Which of following items are not included in GDP?

a. Salaries paid to government officials
b. The values of newly built houses
c. Transfer payment paid to households
d. Value added created by a transportation company by conveying the goods from
factory to consumption place

3. Consider a small economy in which consumers buy only two goods: apples and
pears. In order to compute the consumer price index for this economy for two or
more consecutive years, we assume that:
a. The number of apples bought by the typical consumer is equal to the number of
pears bought by the typical consumer in each year.
b. Neither the number of apples bought by the typical consumer, nor the number of
pears bought by the typical consumer, changes from year to year.
c. The percentage change in the price of apples is equal to the percentage change in
the price of pears from year to year.
d. All of the above are correct

4. If the price of the shoes imported from Italia to Vietnam increases, then:
a. Both CPI and DGDP increase
b. Both CPI and DGDP do not increase
c. DGDP increases but not CPI
d. CPI increases but not DGDP

5. A worker receives unemployment benefit of 2.000.000 VND. He spends this sum of

money on buying clothes made in Korea with the price of 1.200.000 VND. The rest
is used for his meals at local restaurants. GDP of Vietnam will:
a. Remain unchanged
b. Increase 2.000.000 VND
c. Increase 800.000 VND
d. Increase 1.200.000 VND

6. Which of the following does not determine the long-run level of real GDP?
a. The price level
b. Supplies of labor
 c. Available natural resources
d. Available technology

7. Which of the following statement is correct?

a. The value of all intermediate goods and final goods is included in GDP.
b. The value of intermediate goods is included in GDP only if those goods were
produced in the previous year.
c. The value of intermediate goods is included in GDP only if those goods are
added to firms’ inventories to be used or sold at a later date.
d. The value of intermediate goods is never included in GDP.

8. According to the sticky price theory, when the price level decreases unexpectedly,
the price of several companies’ goods will becomes:
a. Higher than desired prices, reducing their sales.
b. Higher than desired prices, increasing their sales.
c. Lower than desired prices, increasing their sales.
d. Lower than desired prices, reducing their sales.

Table 1-1. The following table shows you the data of Cambodia. This economy produced
only cookies and books. Suppose the base year was 2016.
Year Price of cookie Quantity of Price of book Quantity of
(USD) cookie (USD) book
2016 4 90 1,5 150
2017 4 100 2 180
2018 5 120 2,5 200
2019 6 150 3,5 200

9. Refer to table 1-1. In 2016:

a. GDPn was greater than GDPr, DGDP was greater than 100
b. GDPn was greater than GDPr, DGDP was less than 100
c. GDPn was equal to GDPr, DGDP was 100
d. GDPn was less than GDPr, DGDP was less than 100

10. Refer to table 1-1. In 2017:

a. GDPn was 585 USD, GDPr was 660 USD, DGDP was 88,6
b. GDPn was 585 USD, GDPr was 670 USD, DGDP was 87,3
c. GDPn was 760 USD, GDPr was 660 USD, DGDP was 115,2
d. GDPn was 760 USD, GDPr was 670 USD, DGDP was 113,4

11. Refer to table 1-1. In 2018:

a. GDPn was 585 USD, GDPr was 780 USD, DGDP was 75
b. GDPn was 585 USD, GDPr was 825 USD, DGDP was 70,9
 c. GDPn was 1100 USD, GDPr was 780 USD, DGDP was 141
d. GDPn was 1100 USD, GDPr was 825 USD, DGDP was 133,3

12. Refer to table 1-1. The output of Cambodia grew:

a. 29,9% from 2016 to 2017
b. 33,3% from 2017 to 2018
c. 24,3% from 2017 to 2018
d. 15,4% from 2018 to 2019

13. Refer to table 1-1. The inflation rate of Cambodia in 2019 was:
a. 15,4%
b. 26,1%
c. 45,5%
d. 77,8%

14. The other factors remain unchanged, an increase in the price level makes people:
a. Hold more money, so they make more loans and the interest rate decreases
b. Hold more money, so they make fewer loans and the interest rate increases
c. Hold less money
d. Make more loans and the interest rate decreases

15. Which factor make the price level to decrease and the output to increase?
a. SRAS curve shifts to the right
b. SRAS curve shifts to the left
c. AD curve shifts to the right
d. AD curve shifts to the left

16. If: S= -200 + 0,1Yd; T=100. When Government purchases increases to 200, the
output will increase:
a. 144
b. 2000
c. 288
d. All are wrong

17. Suppose: C= 200 + 0,6Yd; X=350; I=300; M=0,15Y; G=500; T=0,2Y; Y*=3000.
MPC is:
a. 0,6
b. 0,4
c. 0,75
d. 0,25
18. Suppose: C= 200 + 0,6Yd; X=350; I=300; M=0,15Y; G=500; T=0,2Y;
Y*=3000.The equilibrium output is:
a. 2454.5
b. 2545.5
c. 3375
d. 3735

19. Suppose: C=200 + 0,6Yd; X=350; I=300; M=0,15Y; G=500; T=0,2Y; Y*=3000.
The expenditure multiplier of this economy is:
a. m= 1.82
b. m= -1.82
c. m= 2.5
d. m= -2.5

20. Suppose: C=200 + 0,6Yd; X=350; I=300; M=0,15Y; G=500; T=0,2Y; Y*=3000.
To reach potential output, how should Government utilize fiscal policy in case they
use only G tool?
a. G = 299,7
b. G = -299,7
c. G = 218,2
d. G = -218,2

21. Households’ consumption is their expenditure in the … for final goods and services
produced…
a. Domestical country, domestically and in abroad
b. Domestical country, domestically
c. Domestical and abroad country, domestically and in abroad
d. Domestical and abroad country, domestically

22. The US Air Force pays a Turkish citizen $30.000 to work on a US base in Turkey.
As a result:
a. US government purchases increase by $30.000; US net exports decrease by
$30,000; and US GDP and GNP are unaffected.
b. US government purchases increase by $30.000; US GNP increase by $30,000;
and US GDP and US net exports are unaffected.
c. US government purchases; and US net exports, GDP and GNP are unaffected.
d. US government purchases increase by $30.000; US net exports decrease by
$30,000; US GNP increases by $30.000; and US GDP is unaffected.

23. Which of the following events shifts the SRAS curve of Vietnam to the left:
a. An increase in the price level
b. An increase in the expected price level
 c. Taste of consumers towards Vietnamese goods increases
d. b,c are correct

24. If you were a borrower, which option among the following choices would you like
to choose the most:
a. Norminal interest rate is 7% and the inflation rate is 3%
b. Norminal interest rate is 5% and the inflation rate is 0%
c. Norminal interest rate is 8% and the inflation rate is 4%
d. Norminal interest rate is 7% and the inflation rate is 10%

25. The consumer price index (CPI) measures:

a. The prices of a fixed basket of goods and services across years
b. The prices of a changing basket of goods and services across years
c. The living standard of population
d. The price level of domestic goods and services