Exam 5: Introduction to Macroeconomics.

Which of these is the most ideal measure of aggregate output?

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

Which of these statements correctly explains the shape of the aggregate demand curve?

What do most economists agree was the trigger of the Great Depression?

What is the average GDP growth per year in the U.S. economy since 1929?

The aggregate demand curve for an economy depicts the _____

The term supply-side economics refers to _____

The failure of the mercantilism policy and the tax policy during the Great Depression proves that economic policies are meaningless and they do more harm than good.

_____ is a composite measure of all final goods and services produced in an economy during a given period.

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

During the Great Depression Real GDP fell dramatically. What was the result?

Which of the following statements regarding the gross domestic product is true?

Which of the following is the significance of a country's price index?

A federal budget deficit can simultaneously reduce inflation and unemployment.

Which of these factors can explain the short recession experienced by the United States in 2001?

The price level in any year _____

Given an aggregate supply curve, a decrease in aggregate demand will _____

Macroeconomic equilibrium is best described as a situation in which _____

Which of the following would indicate the beginning of an expansionary phase in an economy?

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