Question 1

The Full Employment and Balanced Growth Act of 1978 set the target unemployment rate for the United States economy at 4 percent.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is not an important macroeconomic goal?

Accepted Answer

A)  Stable prices 
B)  Full employment 
C)  Rapid economic growth 
D)  Low interest rates 
E)  None of the above is an important macroeconomic goal 
A)  Stable prices 
B)  Full employment 
C)  Rapid economic growth 
D)  Low interest rates 
E)  None of the above is an important macroeconomic goal

Question 3

For the average living standard of a nation to __________,__________ must increase faster than the price level

Accepted Answer

A)  increase;nominal GDP 
B)  increase;real GDP 
C)  decrease;nominal GDP 
D)  remain constant;nominal GDP 
E)  decrease;real GDP 
A)  increase;nominal GDP 
B)  increase;real GDP 
C)  decrease;nominal GDP 
D)  remain constant;nominal GDP 
E)  decrease;real GDP

Question 4

Seemingly positive disagreements often have normative origins.

Accepted Answer

A) True 
 B)False

Question 5

The Employment Act of 1946 directed the federal government to pursue the three objectives of maximizing employment,production,and purchasing power.

Accepted Answer

A) True 
 B)False

Question 6

Over the past 80 years,real GDP has

Accepted Answer

A)  decreased in more years than it has increased 
B)  increased dramatically 
C)  increased slowly 
D)  increased moderately 
E)  been stable 
A)  decreased in more years than it has increased 
B)  increased dramatically 
C)  increased slowly 
D)  increased moderately 
E)  been stable

Exam 17: What Macroeconomics Tries to Explain

The Full Employment and Balanced Growth Act of 1978 set the target unemployment rate for the United States economy at 4 percent.

Which of the following is not an important macroeconomic goal?

For the average living standard of a nation to __________,__________ must increase faster than the price level

Seemingly positive disagreements often have normative origins.

The Employment Act of 1946 directed the federal government to pursue the three objectives of maximizing employment,production,and purchasing power.

Over the past 80 years,real GDP has

What Is Economics

Scarcity,choice,and Economic Systems

Scarcity, choice, and Economic Systems: Part A

Working With Supply and Demand

Elasticity

Consumer Choice

Production and Cost

How Firms Make Decisions: Profit Maximization

Perfect Competition

Perfect Competition: Part A

Monopoly

Monopolistic Competition and Oligopoly

Labor Markets

labor Markets: Part A

Capital and Financial Markets

Economic Efficiency and the Competitive Ideal

Governments Role in Economic Efficiency

Comparative Advantage and the Gains From International Trade

Production, income, and Employment

The Price Level and Inflation

The Classical Long-Run Model

Part A: The Classical Model in an Open Economy

Economic Growth and Rising Living Standards

Economic Fluctuations

The Short-Run Macro Model

Fiscal Policy

Money,banks,and the Federal Reserve

The Money Market and Monetary Policy

Feedback Effects From GDP to the Money Market

Aggregate Demand and Aggregate Supply

Inflation and Monetary Policy

Exchange Rates and Macroeconomic Policy

Appendix-finding Equilibrium GDP Algebraically

Appendix: Capital and Leverage

Filters

For the average living standard of a nation to , must increase faster than the price level