A) those in the population who have a job. B) the percentage of people in the population who have a job. C) those in the population who have a full-time job. D) that part of the population that is working or looking for a job. E) the same as the population. A) those in the population who have a job. B) the percentage of people in the population who have a job. C) those in the population who have a full-time job. D) that part of the population that is working or looking for a job. E) the same as the population.

Exam 17: Macroeconomics: the Big Picture

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Suppose the U.S.economy is currently recovering from a recession.What is the relationship between real and potential GDP? Is it likely that real GDP will stay in this position for a long period of time,say,10 years? Briefly explain.

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Question 1

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When the economy is recovering from a recession,real GDP is less than potential GDP.Recovery is the period when real GDP is again rising,but it is below potential GDP.It is not likely that the recovery will last anywhere near 10 years.Based on the recent U.S.experience,business cycles are significantly shorter than 10 years,and the recovery is only one phase of the business cycle.

The interest rate is positively correlated with the inflation rate.

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The primary tools that the Federal Reserve uses to influence demand are

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Is it a good idea for the government to encourage workers to retire early and give them incentives to do so? How would this policy affect the economy's potential GDP?

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Question 4

How might the economic fluctuations theory explain the movement of the unemployment rate over the business cycle?

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Question 5

Because of how it is defined,the real interest rate can never be negative.

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Question 6

Exhibit 17-5 -Exhibit 17-5 shows real GDP from March 2010 through September 2012 for a certain country.Of points A,B,and C,indicate where the rate of inflation is rising,staying constant,and declining.

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Question 7

Which of the following statements is true about the U.S.rate of inflation between 1973 and 2004?

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Question 8

After a recession,the economy usually takes several years to return to its pre-recession state.

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Question 9

Suppose people expect there to be a substantial increase in the rate of inflation over the next few years.Which of the following would you predict?

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Question 10

Over the past 40 years,the U.S.population

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Question 11

The economic downturn of 2008-09 is commonly called

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Question 12

Inflation and economic growth are positively correlated.

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Question 13

The unemployment rate is defined as

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Question 14

The labor force is

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Question 15

The average inflation rate in the United States in the 1990s was in the range of

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Question 16

The sum of the demands from the four groups that contribute to demand in the whole economy is called

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Question 17

The negative correlation that occurs between inflation and economic growth can best be explained by

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Question 18

Economic growth theory

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Question 19

The increase in real GDP per capita over the past 40 years is closest to

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Question 20

Showing 1 - 20 of 152

Exam 17: Macroeconomics: the Big Picture

Suppose the U.S.economy is currently recovering from a recession.What is the relationship between real and potential GDP? Is it likely that real GDP will stay in this position for a long period of time,say,10 years? Briefly explain.

The interest rate is positively correlated with the inflation rate.

The primary tools that the Federal Reserve uses to influence demand are

Is it a good idea for the government to encourage workers to retire early and give them incentives to do so? How would this policy affect the economy's potential GDP?

How might the economic fluctuations theory explain the movement of the unemployment rate over the business cycle?

Because of how it is defined,the real interest rate can never be negative.

Exhibit 17-5 -Exhibit 17-5 shows real GDP from March 2010 through September 2012 for a certain country.Of points A,B,and C,indicate where the rate of inflation is rising,staying constant,and declining.

Which of the following statements is true about the U.S.rate of inflation between 1973 and 2004?

After a recession,the economy usually takes several years to return to its pre-recession state.

Suppose people expect there to be a substantial increase in the rate of inflation over the next few years.Which of the following would you predict?

Over the past 40 years,the U.S.population

The economic downturn of 2008-09 is commonly called

Inflation and economic growth are positively correlated.

The unemployment rate is defined as

The labor force is

The average inflation rate in the United States in the 1990s was in the range of

The sum of the demands from the four groups that contribute to demand in the whole economy is called

The negative correlation that occurs between inflation and economic growth can best be explained by

Economic growth theory

The increase in real GDP per capita over the past 40 years is closest to

The Central Idea

Observing and Explaining the Economy

The Supply and Demand Model

Subtleties of the Supply and Demand Model: Price Floors,price Ceilings,and Elasticity

The Demand Curve and the Behavior of Consumers

The Supply Curve and the Behavior of Firms

The Interaction of People in Markets

Costs and the Changes at Firms Over Time

The Rise and Fall of Industries

Monopoly

Product Differentiation, monopolistic Competition, and Oligopoly

Antitrust Policy and Regulation

Labor Markets

Taxes, transfers, and Income Distribution

Public Goods, externalities, and Government Behavior

Capital and Financial Markets

Measuring the Production, income, and Spending of Nations

The Spending Allocation Model

Unemployment and Employment

Productivity and Economic Growth

Money and Inflation

The Nature and Causes of Economic Fluctuations

The Economic Fluctuations Model

Using the Economic Fluctuations Model

Fiscal Policy

Monetary Policy

Economic Growth and Globalization

International Trade

International Finance

Reading,understanding,and Creating Graphs

Consumer Theory With Indifference Curves

Producer Theory With Isoquants

Present Discounted Value

The Miracle of Compound Growth

Deriving the Growth Accounting Formula

Deriving the Formula for the Keynesian Multiplier and the Forward-Looking Consumption Model

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