Exam 5: Introduction to Macroeconomics

Which of these is the most likely impact of an increase in the wealth of consumers?

Which of the following statements about leading economic indicators is true?

The figure below shows the aggregate demand and supply curves for the U.S. The figure given below shows that between period 1 and period 2 nominal GDP changed from $40,000 to:

The demand for _____ is most severely affected by a recession.

Which of the following was true of the United States before 1970?

The Employment Act of 1946:

Long-term growth in production in an economy can be partially explained by:

The figure below shows the aggregate demand and supply curves for the U.S. The figure given below shows that from the beginning of period 1 to the end of period 2:

The Reagan administration's 1981 personal income tax changes were designed to:

The laissez-faire approach popular before the Great Depression influenced the U.S. government to see business downturns as:

The aim of supply-side economics is to:

Identify the correct statement.

The Reagan tax cut of 1981 was an attempt to:

Stagflation in an economy can be effectively controlled by Keynesian demand management policies.

The federal debt is a stock variable that measures the net accumulation of prior federal deficits.

Macroeconomists test their theories using controlled economy-wide experiments of various kinds.

Which of these is a lagging economic indicator?

According to Keynes, in order to get the economy out of a recession, the government should:

The global financial panic in September 2008 that led to a sharp fall in business investment spending and consumer spending can be viewed as:

If the U.S. price level increases relative to price levels in foreign countries, _____.