Exam 5: Introduction to Macroeconomics

In a business cycle, the end of a recession is represented by

According to Classical models, the level of employment is determined primarily by

The interest rate on a given loan reflects the ________ of the loan and the perceived risk to the ________.

Related to the Economics in Practice on p. 98: John Steinbeck's The Grapes of Wrath is set in the early 1930s, a period in U.S. history most noted for

Suppose the economy suffers a high rate of inflation. According to Keynesian economists, the government should decrease employment by

Classical economists believed that economic slowdowns are self-correcting.

Related to the Economics in Practice on p. 98: F. Scott Fitzgerald's The Great Gatsby is set in the "Roaring '20s". This decade in U.S. history was characterized by

Refer to the information for this hypothetical economy provided in Table 5.2 below to answer the questions that follow. Table 5.2 2014 2015 2016 -Refer to Table 5.2. In this economy, an expansion existed around the

According to ________, the level of employment is determined by the level of aggregate demand for goods and services.

In the United States, unemployment rose in all of the recessions that have occurred since the 1970s.

Which of the following would be an example of fine-tuning?

In the United States between 1933 and 1937, aggregate output

If the central bank decreases the money supply, it is conducting

Which of the following is a topic studied in Macroeconomics?

If Raoul purchases a share of stock for $40 and four years later sells it for $160, he will realize a

We can use macroeconomic analysis to

A household that spends less than it receives in income during a given period is

The short-term ups and downs in the level of economic activity is known as a(n)

Between a trough and a peak, the economy goes through a(n)

If the labor force is 400 and employment is 380, then the unemployment rate is