Exam 1: What Is Macroeconomics

Suppose that everyone in the population of Country A is employed and equally productive. If the population grows by 5%,hours of work fall by 3%,and output per hour grows by 4%,then output per person,or output per capita rises by approximately

A general definition of economics is the study of

Macroeconomics differs from microeconomics in that

Which of the following is an historically accurate description of real per capita growth rates?

The fundamental problem of economics is

Which of the following is not a macroeconomic question?

Which of the following is not a macroeconomic event?

Which of the following is not a direct concern of macroeconomists?

Modern market economies allocate resources primarily through

Which of the following is probably the least relevant to a country's growth rate?

Macroeconomics and microeconomics are complementary in that

From 1965 to 1990,US economic output,adjusted for inflation,quadrupled while the population doubled. This means that output per person