Exam 5: Introduction to Macroeconomics

Macroeconomics simply focuses on the annual performance of a particular national economy and ignores its interactions with other national economies around the world.

If the real GDP of a country in 2011 was 300 billion,its price index was 108.3,and its population was 150 billion,then real GDP per capita for that year was:

Which of these statements correctly explains the shape of the aggregate demand curve?​

A key difference between recessions and depressions is that recessions are:

Stagflation is a situation with high unemployment rates,high inflation rates,and little or no growth in the economy.

The Reagan tax cut of 1981 was an attempt to:

A fall in the price level will:​

Long-term growth in production in an economy can be partially explained by:

An economic variable that measures something at a particular point in time is called a _____.

Which of these is the best measure of the average standard of living in an economy?

As the price level increases,the amount of goods and services that consumers,businesses,and governments desire to purchase will change.This is depicted by:​

Confidence in Keynesian economics:

A depression can be defined as:​

From 2009 to 2013,the price level in the U.S.has increased by 8.3 percent.This implies that the price index in 2012 was:​

Which of these signifies the role of money in any economy?

Which of these is a central argument of Keynes's General Theory?

Due to the implementation of the Troubled Asset Relief Program and the American Recovery and Reinvestment Act,the Federal budget deficit _____.

The following table shows an aggregate demand schedule and an aggregate supply schedule.Which of the following is true?​ ​ Table 5.1 ​

Which of these faulty economic policies was adopted by President Hoover during the Great Depression?

Identify the most likely impact of a decrease in the wealth of consumers in an economy,other things remaining constant.​