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Sophia (Macroeconomics) - Unit 1 _3
Sophia (Macroeconomics) all unit with everything to pass
[Show more]Sophia (Macroeconomics) all unit with everything to pass
[Show more]Microeconomics involves decisions made by __________. firms and households 
Studying macroeconomics helps us learn about the value and limitations of __________, which 
occurs across nations, typically involving foreign exchange transactions. global trade 
In the Circular Flow model, governments ___...
Preview 1 out of 4 pages
Add to cartMicroeconomics involves decisions made by __________. firms and households 
Studying macroeconomics helps us learn about the value and limitations of __________, which 
occurs across nations, typically involving foreign exchange transactions. global trade 
In the Circular Flow model, governments ___...
Which statement below regarding aggregate demand is true? It expresses an inverse 
relationship between price level and RGDP. 
If demand becomes more elastic, which of the following will happen, as demonstrated by the graph 
shown here? The incidence of the subsidy on the consumer will decrease. 
Se...
Preview 1 out of 2 pages
Add to cartWhich statement below regarding aggregate demand is true? It expresses an inverse 
relationship between price level and RGDP. 
If demand becomes more elastic, which of the following will happen, as demonstrated by the graph 
shown here? The incidence of the subsidy on the consumer will decrease. 
Se...
Which statement below regarding monetary policy is false? Central banks aim for an inflation 
rate of 5%. 
What does the expression Y-(C+T) represent? Public savings 
If the MPC is 0.75 and the government increases spending by $100 billion, the effect this change 
has on the economy will be which of...
Preview 1 out of 3 pages
Add to cartWhich statement below regarding monetary policy is false? Central banks aim for an inflation 
rate of 5%. 
What does the expression Y-(C+T) represent? Public savings 
If the MPC is 0.75 and the government increases spending by $100 billion, the effect this change 
has on the economy will be which of...
Which statement below about economics is NOT true? It only considers the choices that take 
place on an individual 
level. 
Which of the following is NOT a good reason to study macroeconomics? It can help someone 
understand choices made at the individual 
level. 
In the circular flow diagram, which...
Preview 1 out of 3 pages
Add to cartWhich statement below about economics is NOT true? It only considers the choices that take 
place on an individual 
level. 
Which of the following is NOT a good reason to study macroeconomics? It can help someone 
understand choices made at the individual 
level. 
In the circular flow diagram, which...
If the price of gold is rising, which of the following can we also expect to be true? Quantity 
demanded for gold will be 
decreasing. 
What will finding out that two of her children have severe peanut allergies cause for Jenna's 
demand for 
almond butter? The almond butter demand curve will make ...
Preview 1 out of 3 pages
Add to cartIf the price of gold is rising, which of the following can we also expect to be true? Quantity 
demanded for gold will be 
decreasing. 
What will finding out that two of her children have severe peanut allergies cause for Jenna's 
demand for 
almond butter? The almond butter demand curve will make ...
Which of the following make up a country's balance of payments? Capital account and current 
account 
Which of the following is NOT part of the expenditure approach to calculating GDP? Labor 
income 
If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the 
ba...
Preview 1 out of 3 pages
Add to cartWhich of the following make up a country's balance of payments? Capital account and current 
account 
Which of the following is NOT part of the expenditure approach to calculating GDP? Labor 
income 
If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the 
ba...
Which statement below about economics is NOT true? It only considers the choices that take 
place on an individual 
level. 
Which of the following is NOT a good reason to study macroeconomics? It can help someone 
understand choices made at the individual 
level. 
In the circular flow diagram, which...
Preview 1 out of 3 pages
Add to cartWhich statement below about economics is NOT true? It only considers the choices that take 
place on an individual 
level. 
Which of the following is NOT a good reason to study macroeconomics? It can help someone 
understand choices made at the individual 
level. 
In the circular flow diagram, which...
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