Question 1

The central mission of modern macroeconomics is to prevent:

Accepted Answer

A) shortages. 
B) surpluses. 
C) high gas prices. 
D) a deep recession like the Great Depression. 
A) shortages. 
B) surpluses. 
C) high gas prices. 
D) a deep recession like the Great Depression.

Question 2

Historical evidence shows that for determining a country's living standards, over:

Accepted Answer

A) an extended period, long-run growth is just as important as the business cycle. 
B) short periods, long-run growth is less important than the business cycle. 
C) an extended period, long-run growth is much more important than the business cycle. 
D) long periods, it is difficult to determine whether the business cycle or long-run growth is more important. 
A) an extended period, long-run growth is just as important as the business cycle. 
B) short periods, long-run growth is less important than the business cycle. 
C) an extended period, long-run growth is much more important than the business cycle. 
D) long periods, it is difficult to determine whether the business cycle or long-run growth is more important.

Question 3

Which question is the most appropriate to the study of MACROECONOMICS?

Accepted Answer

A) How does the aggregate price level affect overall consumer spending? 
B) How does the level of interest rates affect Delta's decision to buy a new airplane? 
C) How much will Sony charge for the new game system to be introduced later this year? 
D) What determines whether Wachovia opens a new office in Beijing? 
A) How does the aggregate price level affect overall consumer spending? 
B) How does the level of interest rates affect Delta's decision to buy a new airplane? 
C) How much will Sony charge for the new game system to be introduced later this year? 
D) What determines whether Wachovia opens a new office in Beijing?

Question 4

Rising total output accompanied by increasing employment is generally known as:

Accepted Answer

A) stagflation. 
B) recession. 
C) inflation. 
D) expansion. 
A) stagflation. 
B) recession. 
C) inflation. 
D) expansion.

Question 5

The additional profit earned by Microsoft Corporation by marketing and using a proprietary method of coding software is a microeconomic issue.

Accepted Answer

A) True 
 B)False

Question 6

Changing government spending and taxes to affect overall spending is use of _____ policy.

Accepted Answer

A) tax-and-spend 
B) monetary 
C) fiscal 
D) free-trade 
A) tax-and-spend 
B) monetary 
C) fiscal 
D) free-trade

Question 7

Among the tools available to macroeconomic policy makers is:

Accepted Answer

A) fiscal policy, for use in manipulating government spending and taxation. 
B) antitrust policy, to break up monopolies. 
C) environmental policy, to clean up the economy. 
D) improving standards for food and drugs. 
A) fiscal policy, for use in manipulating government spending and taxation. 
B) antitrust policy, to break up monopolies. 
C) environmental policy, to clean up the economy. 
D) improving standards for food and drugs.

Question 8

The trough of the business cycle:

Accepted Answer

A) comes right after the expansion phase. 
B) comes before the recession phase. 
C) is a temporary maximum level of real GDP. 
D) is a temporary minimum level of real GDP. 
A) comes right after the expansion phase. 
B) comes before the recession phase. 
C) is a temporary maximum level of real GDP. 
D) is a temporary minimum level of real GDP.

The central mission of modern macroeconomics is to prevent:

Historical evidence shows that for determining a country's living standards, over:

Which question is the most appropriate to the study of MACROECONOMICS?

Rising total output accompanied by increasing employment is generally known as:

The additional profit earned by Microsoft Corporation by marketing and using a proprietary method of coding software is a microeconomic issue.

Changing government spending and taxes to affect overall spending is use of _____ policy.

Among the tools available to macroeconomic policy makers is:

The trough of the business cycle:

First Principles

Economic Models

Supply and Demand

International Trade 5

Gdp and Cpi: Tracking the Macroeconomy

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial System

Fiscal Policy Appendix Taxes and the Multiplier

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Crises and Consequences

Events and Ideas

Open-Economy Macroeconomics

Graphs in Economics

toward a Fuller Understanding of Present Value

Filters

Exam 6: Macroeconomics: the Big Picture

The central mission of modern macroeconomics is to prevent:

Historical evidence shows that for determining a country's living standards, over:

Which question is the most appropriate to the study of MACROECONOMICS?

Rising total output accompanied by increasing employment is generally known as:

The additional profit earned by Microsoft Corporation by marketing and using a proprietary method of coding software is a microeconomic issue.

Changing government spending and taxes to affect overall spending is use of _____ policy.

Among the tools available to macroeconomic policy makers is:

The trough of the business cycle:

First Principles

Economic Models

Supply and Demand

International Trade 5

Gdp and Cpi: Tracking the Macroeconomy

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial System

Fiscal Policy Appendix Taxes and the Multiplier

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Crises and Consequences

Events and Ideas

Open-Economy Macroeconomics

Graphs in Economics

toward a Fuller Understanding of Present Value

Filters