.. NAME. ______________________________________ ___ FIRST EXAM BENNETT ECON 305 MULTIPLE-CHOICE 3 points each: Circle the IeHer beside the best answer. 1. Macroeconomics Is the study of a. the economic Issues which affect Individual well being and Individual firms' profit levels b. the economic Issues which affect foreign and domestic prices of related goods and services c. Inflation and poverty at the level of the household d. the economic issues which affect the nation's total Income, employment, and output 2. A low unemployment rate Implies that a. job offers are scarce and Inflation Is high b. job offers are plentiful and wages are high c. jobs are permanent and Job offers are plentiful d. Jobs are difficult to find, and wages are low 3. The Inflation rate Is the a. messure used to calculate the price level b. measure used to calculate the GNP deflstor c. percentage Increase In the average level of prices d. percentage Increase In the average level of wages 4. A risin...