Exam 20: Introduction to Macroeconomics

The General Theory of Employment, Interest, and Money is an economic treatise written by

In a business cycle, a peak represents the end of

Microeconomic behavior is the sum of all the microeconomic decisions made by individual households and firms.

To get the economy out of a slump, Keynes believed that the government should

In the circular flow diagram, households' payments ________ the government.

A household that spends more than it receives in income during a given period is

An expansion is usually associated with rising price levels.

Refer to the information for this hypothetical economy provided in Table 20.2 below to answer the question(s) that follow. Table 20.2 2014 2015 2016 -Refer to Table 20.2. In this economy, an expansion existed around the

________ in the value of an asset over the price initially paid for it is a capital gain.

If the central bank decreases the money supply, it is conducting

The employment rate is the number of people employed divided by number of people in the labor force.

Welfare payments are an example of

Since 1970, the U.S. economy has experienced 2 periods of high inflation.

Which of the following is not a topic studied in Macroeconomics?

In the United States in 1933, the unemployment rate was approximately

The largest stock exchanges are located in all of the following cities except

Macroeconomics is concerned with inflation or deflation, output growth and unemployment.

Refer to the information for this hypothetical economy provided in Table 20.2 below to answer the question(s) that follow. Table 20.2 2014 2015 2016 -Refer to Table 20.2. We would expect the period from after the fourth quarter of 2014 until before the third quarter of 2015 to be categorized as a period of

The United States economy experienced stagflation during the

A dividend is is paid by shareholders to firms.