Exam 20: Introduction to Macroeconomics

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

Related to the Economics in Practice on p. 418: John Steinbeck's The Grapes of Wrath is set in the early 1930s, a period in U.S. history most noted for

According to Classical economists, if the quantity of labor supplied exceeds the quantity demanded, there is a

According to ________ models, the level of employment is determined primarily by prices and wages.

If Raoul purchases a share of stock for $40 and four years later sells it for $160, he will realize a

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. Which of the following quarters would we most expect to be associated with high unemployment?

The government wants to discourage consumer spending through raising income taxes. This is an example of

The demand for massage therapists declined in the spring of 2016, but the starting wages paid to massage therapists was still the same at the end of 2016. This is an example of a

A corporate bond is a ________ issued by a corporation when it borrows money.

A decrease in the overall price level is known as

In the circular flow diagram, households demand ________ and supply ________.

Hyperinflation and stagflation are two different names which refer to identical economic conditions.

Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are

John Maynard Keynes sought to solve the economic problem of the Great Depression, which was the coexistence of

The demand for steel has decreased in July without any change in supply. Six months later there still has been no change in steel prices. This is an example of a

Since 1970, the U.S. economy has experienced two

The diagram that shows the income received and payments made by each sector of the economy is the

The short-term ups and downs in the level of economic activity is known as a(n)

Inflation refers to a(n) ________ in the overall ________.

Monetary policies are designed to affect the