ECON 101 CHAPTER 6 EXAM BANK SOLUTION MANUAL LATEST UPDATE (GRADED A+)
The topics studied in macroeconomics include:
-monopolies.
-mergers.
-inflation.
-spillovers, such as pollution. - Answers inflation
Which would NOT be classified as a MACROECONOMIC question?
-What determines ...
-spillovers, such as pollution. - Answers inflation
Which would NOT be classified as a MACROECONOMIC question?
-What determines the overall level of prices?
-How many people are employed in the economy as a whole?
-What determines a university's cost of offering a new course?
-What determines the overall trade in goods, services, and financial assets between the United States
and the rest of the world? - Answers -What determines a university's cost of offering a new course?
Which question is the most appropriate to the study of MACROECONOMICS?
How much will Sony charge for the new game system to be introduced later this year?
How does the level of interest rates affect Delta's decision to buy a new airplane?
How does the aggregate price level affect overall consumer spending?
What determines whether Wachovia opens a new office in Beijing? - Answers How does the aggregate
price level affect overall consumer spending?
The view that the government should take an active role in the macroeconomy dates to:
the Civil War.
the Vietnam War.
World War I.
, the Great Depression. - Answers great depression
The central mission of modern macroeconomics is to prevent:
-shortages.
-surpluses.
-high gas prices.
-a deep recession like the Great Depression. - Answers -a deep recession like the Great Depression.
Keynesian economics stressed:
that the Depression should run its course to bring down the high cost of living.
the importance of total spending.
the self-correcting power of free markets.
the long run. - Answers the importance of total spending.
If during several months the economy is simultaneously increasing its levels of output and employment,
then the economy is in a(n):
-expansion.
-turning point between a recovery and a downturn.
-recession.
-depression. - Answers expansion
An economic expansion in the United States is typically associated with a(n):
increase in the poverty rate.
falling unemployment rate.
falling inflation rate.
decrease in corporate profits. - Answers falling unemployment rate
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