dataset_name: high_school_macroeconomics
description: The following are multiple choice questions (with answers) about high
  school macroeconomics.
fewshot_config:
  sampler: first_n
  samples:
  - question: 'Which of the following policies best describes supply-side fiscal policy?

      (A) An increase in the money supply (B) Increased government spending (C) Lower
      taxes on research and development of new technology (D) Higher taxes on household
      income'
    target: Let's think step by step. We refer to Wikipedia articles on macroeconomics
      for help. Supply-side fiscal policy stimulates the economy by encouraging more
      production of goods and services through reduction in taxes and deregulation.
      The answer is (C).
  - question: 'The short-run Phillips curve indicates a

      (A) direct relation between unemployment and inflation (B) direct relation between
      price and quantity demanded (C) inverse relation between price and quantity
      demanded (D) inverse relation between unemployment and inflation'
    target: Let's think step by step. We refer to Wikipedia articles on macroeconomics
      for help. The short-run Phillips curve shows that whenever unemployment decreases
      below a natural level, the inflation starts increasing, and vice-versa. The
      answer is (D).
  - question: 'Holding all else equal which of the following monetary policies would
      be used to boost U.S. exports?

      (A) Increasing the discount rate (B) Increasing the reserve ratio (C) Buying
      government securities (D) Lowering tariffs'
    target: Let's think step by step. We refer to Wikipedia articles on macroeconomics
      for help. Buying government securities leads to reduction in demand for US dollars
      from foreign buyers, thereby making it cheaper and hence making US exports more
      attractive. The answer is (C).
  - question: 'A federal deficit occurs when

      (A) exports exceed imports. (B) imports exceed exports. (C) federal tax collections
      exceed spending. (D) federal spending exceeds federal tax revenues.'
    target: Let's think step by step. We refer to Wikipedia articles on macroeconomics
      for help. A federal deficit occurs when federal spending exceeds federal income
      which is primarily from tax revenues. The answer is (D).
  - question: 'Which of the following is not included in the U.S. GDP?

      (A) The U.S. military opens a new base in a foreign country with 1000 U.S. personnel.
      (B) Japanese consumers buy thousands of CDs produced in the United States. (C)
      An American pop singer performs a sold-out concert in Paris. (D) A French theatrical
      production tours dozens of American cities.'
    target: 'Let''s think step by step. We refer to Wikipedia articles on macroeconomics
      for help. The economic transactions related to the performance of the American
      pop-singer in Paris happens entirely outside the U.S. and hence is not included
      in the GDP numbers. The answer is (C).'
group: mmlu_flan_cot_fewshot_social_sciences
include: _mmlu_flan_cot_fewshot_template_yaml
task: mmlu_flan_cot_fewshot_high_school_macroeconomics
