Exam 1: What Is Macroeconomics

International influences have become relatively ________ important for the U.S.economy in recent decades,as we become a more ________ economy.

To avoid the conflicts and suffering of a "zero-sum society," an economy must maintain a

Hyperinflation can be defined as an inflation rate of

In the United States,the most recent period in which the unemployment rate stayed below the natural unemployment rate for several consecutive years was

Which of the following does Gordon believe people consider the single most important macroeconomic issue today?

Figure 1-2 -The output gap is zero when

The branch of macroeconomics concerned with changes in the natural real GDP is the theory of

As an example of the simplifications that make economic theorizing possible,the major economic "totals" are assumed to be constant in the study of

Business cycles in the United States

Generally,the higher the level of output in an economy is the ________ will be.

A rising inflation rate tends to injure the following types of people:

Are government activities of any concern to macroeconomists?

We are told that over the past year actual real GDP has risen by three percent.This fact alone is enough to tell us that

Policy that tries to influence target variables by changing the interest rate is called

Given the path of natural real GDP growth,economists prefer an economy such as ________,in which the real GDP gaps are ________.

According to Gordon,for which of the following should policymakers set a target rate of zero?

Gordon states that ________ caused the substantial increase in the standard of living in South Korea relative to that of the Philippines during the period 1960-2010.

Which of the three central concepts in macroeconomics is cited in the textbook as being linked to crime,mental illness,and suicide?

The U.S.business cycle record,in common with most,has

In policy discussions macroeconomic aggregates (inflation,unemployment,and productivity)are called