Exam 16: Macroeconomics: The Birds Eye View of the Economy

Monetary policy refers to:

The field of macroeconomics developed when economists looked for causes of:

Compared to 1929, total output in the U.S. in 2016 was approximately ________ times larger.

If Country A and Country B have the same population size, then the standard of living in these two countries can still be different depending on:

A trade surplus occurs when:

Which of the following would be considered an example of structural policy?

"U.S. exports will increase as a result of joined CAFTA," is an example of a ________ statement, while "The U.S. should join CAFTA," is an example of a ________ statement.

The largest change in the unemployment rate from the beginning of a recession to the peak unemployment rate occurred during the recession beginning in:

If average labor productivity decreases while population and the number of employed workers remain constant, then total output:

Analysis that addresses the question of whether a policy should be used is called ________ analysis.

A decision by a government to sell businesses that currently are operated by the government to private investors is an example of ________ policy.

A key indicator of the hardship experienced during the Great Depression is the:

A trade deficit occurs when:

If average labor productivity decreases while population and the number of employed workers remain constant, then output per person:

The Federal Reserve makes decisions regarding ________ policy while Congress makes decisions regarding ________ policy.

The value of output was $100 billion in Northland and $200 billion in Southland. The population of Northland was 50 million and the population of Southland was 30 million. There were 30 million employed workers in Northland and 20 million employed workers in Southland.

If the unemployment rate increases from 4 percent to 10 percent, then the economy is mostly likely in a(n):

When government revenue exceeds government spending, the nation has a:

Decisions to determine the government's budget are called:

If total output increases from $1 trillion to $2 trillion as population increases from 100 million to 250 million, then output per person: