Macroeconomics terms - Study guides, Class notes & Summaries

AP Macroeconomics Final Exam - Multiple Choice Questions And Answers What goods and services are produced? The question of "How are goods and services produced?" most closely addresses which of the following issues? B. Should Ford use expensive industrial robots or inexpensive Mexican autoworkers to produce SUV's? The opportunity cost of a decision is measured in terms of C. the next best thing given up. Mothers Against Drunk Drivers (MADD) campaigned to increase the legal ...

macroeconomics - Answer involves the study of the whole economy at the aggregate level policy objective - Answer a target or goal that policy-makers aim to 'hit' short-run economic growth - Answer Growth of real output resulting from using idle resources, including labour, thereby taking up the slack in the economy long-run economic growth - Answer an increase in the economy's potential level of real output, and an outward shift of the economy's production possibility fronti...

Microeconomics correct answers the branch of economics that studies the choices of individuals, including households, business firms, and government agencies. Macroeconomics correct answers the branch of economics that studies large-scale economic phenomena, particularly inflation, unemployment, and economic growth. Goods correct answers have a physical tangible presence what is an example of a good? correct answers pizza Services correct answers have no physical tangible presence bu...

AP Macroeconomics Exam Questions Correct Solutions New Update (Verified A+ Pass) Macroeconomics approaches the study of economics from the viewpoint of: - Answers - the entire economy Which of the following is a macroeconomic statement? - Answers - the gross profits of all American businesses were $181 billion last year To be considered scarce, an economic resource must be - Answers - limited and desirable, but not free The opportunity cost of producing an additional unit of product ...

Test Bank - Brief Principles of Macroeconomics 7th Edition by Gregory Mankiw| All Chapters | Complete Guide A+. Multiple Choice – Section 00: Introduction Which of the following is not correct? Economists use some familiar words in specialized ways. Economics has its own language and its own way of thinking, but few other fields of study do. Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are part of the economist’s language....

AP Macroeconomics Semester 2 FINALS, Real Exam Questions (179 Terms) with Correct Answers best Rated A+

TEST BANK for Macroeconomics in Modules, 3rd Edition by Paul Krugman, Robin Wells. All Chapters (Complete download). 1248 Pages Test Bank for Macroeconomics in Modules, 3e Paul Krugman, Robin Wells (All Chapters) Chapter 1 1. Scarcity in economics means: *a. we do not have sufficient resources to produce all the goods and services we want. b. the wants of people are limited. c. there must be poor people in rich countries. d. shortages exist in nearly all markets. 2. If resources ar...

Sophia Macroeconomics Final Preparation Unit 2 Challenge Questions (64 Terms) and Answers Best Graded A+ .

Another term for bond market - Answer-Fixed income What was the worth of the global bond market at the end of 2016 - Answer-101 Trillion What was the worth of the global stock market at the end of 2016 - Answer-65 Trillion Amount of government bonds in existence at the end of 2016 - Answer-2.1 million How much of the 101 trillion of bonds does the U.S. account for? - Answer-14 trillion Largest segment of world bond market - Answer-Sovereign debt market A shortfall of tax revenue from gover...

Macroeconomics The part of economics concerned with the economy as a whole, including its major aggregate parts, such as households, businesses, and government. Marginialism the analysis of marginal or extra benefits and costs when making decisions Economics The study of how people use scarce resources Economic Perspective (1) The way of viewing the world which explains economic behavior and outcomes in terms of scarcity of resources and rational decision making based on a cost-benefit...