Question 1

How is the annual inflation rate calculated?

Accepted Answer

First last year's price level is subtrac

Question 2

What types of economic issues do macroeconomists study?

Accepted Answer

Macroeconomists study issues s

Question 3

When the gross domestic product is growing, it is called inflation.

Accepted Answer

A) True 
 B)False

Question 4

A possible order of economic fluctuations is:

Accepted Answer

A) recession, boom, expansion, trough. 
B) expansion, recession, boom, trough. 
C) recession, trough, expansion, peak. 
D) expansion, trough, recession, peak. 
A) recession, boom, expansion, trough. 
B) expansion, recession, boom, trough. 
C) recession, trough, expansion, peak. 
D) expansion, trough, recession, peak.

Question 5

A variable taken as given in a model is a[n]

Accepted Answer

A) endogenous variable. 
B) dummy variable. 
C) exogenous variable. 
D) dichotomous variable. 
A) endogenous variable. 
B) dummy variable. 
C) exogenous variable. 
D) dichotomous variable.

Question 6

-In Figure1.1, if price is 7, then quantity demanded is:

Accepted Answer

A)  2. 
B)  7. 
C)  3. 
D)  8. 
A)  2. 
B)  7. 
C)  3. 
D)  8.

Question 7

Macroeconomics deals with:

Accepted Answer

A) how individual markets work. 
B) the overall performance of the economy. 
C) relative prices in different markets. 
D) substitution of one good for another good. 
A) how individual markets work. 
B) the overall performance of the economy. 
C) relative prices in different markets. 
D) substitution of one good for another good.

Question 8

The rate of growth of GDP for period t is:

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)

Question 9

A trough in an economy is when the economy:

Accepted Answer

A) is growing. 
B) reaches a low point. 
C) is contracting. 
D) reaches a high point. 
A) is growing. 
B) reaches a low point. 
C) is contracting. 
D) reaches a high point.

Question 10

Macroeconomists study the amount of employment and unemployment.

Accepted Answer

A) True 
 B)False

How is the annual inflation rate calculated?

What types of economic issues do macroeconomists study?

When the gross domestic product is growing, it is called inflation.

A possible order of economic fluctuations is:

A variable taken as given in a model is a[n]

-In Figure1.1, if price is 7, then quantity demanded is:

Macroeconomics deals with:

The rate of growth of GDP for period t is:

A trough in an economy is when the economy:

Macroeconomists study the amount of employment and unemployment.

National-Income Accounting: Gross Domestic Product and the Price Level

Introduction to Economic Growth

Working With the Solow Growth Model

Conditional Convergence and Long-Run Economic Growth

Macroeconomics Without Microeconomic Foundations

Markets, Prices, Supply, and Demand

Consumption, Saving, and Investment

An Equilibrium Business-Cycle Model

Capital Utilization and Unemployment

The Demand for Money and the Price Level

Inflation, Money Growth, and Interest Rates

Government Expenditure

Taxes

Public Debt

Money and Business Cycles I: the Price-Misperceptions Model

Money and Business Cycles Ii: Sticky Prices and Nominal Wage Rates

World Markets in Goods and Credit

Exchange Rates

Filters

Exam 1: Thinking About Macroeconomics

How is the annual inflation rate calculated?

What types of economic issues do macroeconomists study?

When the gross domestic product is growing, it is called inflation.

A possible order of economic fluctuations is:

A variable taken as given in a model is a[n]

-In Figure1.1, if price is 7, then quantity demanded is:

Macroeconomics deals with:

The rate of growth of GDP for period t is:

A trough in an economy is when the economy:

Macroeconomists study the amount of employment and unemployment.

National-Income Accounting: Gross Domestic Product and the Price Level

Introduction to Economic Growth

Working With the Solow Growth Model

Conditional Convergence and Long-Run Economic Growth

Macroeconomics Without Microeconomic Foundations

Markets, Prices, Supply, and Demand

Consumption, Saving, and Investment

An Equilibrium Business-Cycle Model

Capital Utilization and Unemployment

The Demand for Money and the Price Level

Inflation, Money Growth, and Interest Rates

Government Expenditure

Taxes

Public Debt

Money and Business Cycles I: the Price-Misperceptions Model

Money and Business Cycles Ii: Sticky Prices and Nominal Wage Rates

World Markets in Goods and Credit

Exchange Rates

Filters