Exam 5: An Introduction To Macroeconomics

Intermediate goods,like milk sold by a farmer to a supermarket,are

The human consequences of the Great Depression included

Gross Domestic Product is calculated by adding together

Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy.Figure 5-3 shows four diagrams that represent different changes in the macroeconomy.Choose the diagram that best represents the situations described in the following questions. Figure 5-3 -Which graph in Figure 5-3 best represents the supply-side shock of the 1970s oil crisis?

E&S Cooling Co.installs air conditioning systems in new houses for homebuilders,and replacement systems for homeowners.Sales of which systems are included in this year's GDP?

Contrast the economic performance of the American economy of 2001 with the economic performance of the 1996 to 2001 period.Use the appropriate aggregate demand and aggregate supply curves to distinguish the differing economic condition of the two periods.

In the early 1980s,the economy experienced high unemployment with falling inflation.

Gross Domestic Product is a monetary measure of

Real GDP is another term for

The price controls on consumer goods during World War II led to

You can generally distinguish an aggregate supply-caused recession from an aggregate demand-caused recession because

Figure 5-2 -To fight recession,the government may

An increase in aggregate demand is most likely to result in

An economist who studies the sales and profits of a large corporation would be classified as a(n)

Macroeconomists pay little attention to the composition of aggregate output.

Figure 5-2 -In Figure 5-2,an increase in government spending would cause

GDP does not measure the economic well-being of a nation because:

Gross Domestic Product is best described as the

How do macroeconomists differ from microeconomists?

GDP in 2015 would not include the resale of a house built in 2000.