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

Before 1970 the United States generally had a trade ________ and since 1970 the United States has generally run a trade ________.

In Econland exports equal 15 percent of total output, while imports equal 20 percent of total output. Econland has a:

Major macroeconomic questions include all of the following EXCEPT:

A government decision to privatize a sector of the economy formerly operated by the government is an example of ________ policy.

In 2016 the United States imported approximately ________ percent of all goods and services produced in the country.

A particularly severe recession is called a(n):

Which of the following statements is positive?

"Any tax cut to increase demand for output should favor lower-income people" is a ________ statement about ________ policy.

Which of the following would be studied by macroeconomists?

A trade imbalance occurs when:

In a debate on the state of the economy Senator A pointed out that the price of clothing, fruits, and computers had decreased slightly over the last year, while Senator B stated that the inflation rate had increased over the last year. In this example, aggregate data is being used by:

People who enjoy high standards of living usually have all of the following EXCEPT:

Decisions to reduce the money supply are made by ________ and are an example of ________ policy.

A nation's central bank:

Deregulation of the airline, trucking, telephone, and electric utility industries are examples of ________ policy.

Which of the following correctly ranks the amounts from largest to smallest?

Government polices aimed at changing the underlying structure or institutions of the nation's economy are called:

Decisions to cut taxes are made by ________ and are an example of ________ policy.

Fiscal policy refers to:

Aggregation means the: