Exam 1: What Is Macroeconomics

The proper short-run goal of macroeconomic policymakers is to

The central macroeconomic concept that is most clearly related to changes in the well-being of the average member of the economy is the

After 1995 U.S.growth rate ________ and the European Rate ________

Suppose that the natural rate of unemployment is 5.7 percent.If unemployment has for some time been varying between 5.1 and 5.3 percent,we should be at an actual real GDP ________ the natural real GDP,and should expect inflation to be ________.

Figure 1-2 -Which of the following is a criterion by which Gordon judges the desirability of any given level of actual real GDP?

Macroeconomics is the study of

The unemployment rate is the number of

Over the period between 1960 and 2010,the increase in unemployment rate was the greatest in

A high current rate of inflation ________ those who have saved and ________ those who have borrowed.

In 1999 the European unemployment rate was ________ that in the United States.

Policy that tries to influence target variables by changing the tax rates is called

Why would macroeconomists rate economic performance in Speed-Nation superior to that in Stag-Nation? Speed-Nation has

Figure 1-2 -The natural level of real GDP is that level of

"Natural" real GDP is defined as the total output

A high inflation rate will

Do macroeconomic issues concern the well-being of the typical individual member of an economy?

Approaching a business cycle trough we find actual real GDP ________ natural real GDP,so inflation is ________.

Among the subjects covered in macroeconomics are the

Microeconomics focuses on

The period of the business cycle between the peak and the trough is the