Exam 5: Introduction to Macroeconomics

An example of a transfer payment is

A promissory note issued by a corporation when it borrows money is a

In a business cycle, a peak occurs before the beginning of a(n) ________ and a trough occurs before the beginning of a(n) ________.

Since 1970, the U.S. economy has experienced ________ period(s) of high inflation.

Stagflation occurs when there is a decline in the unemployment rate.

The demand for auto mechanics increased in the summer of 2016, but the starting wages paid to auto mechanics was still the same at the end of 2016. This is an example of a

The demand for massage therapists declined in the spring of 2016, but the starting wages paid to massage therapists was still the same at the end of 2016. This is an example of a

In the circular flow diagram, ________ demand labor and ________ demand goods and services.

In the circular flow diagram, households demand ________ and supply ________.

Promissory notes include

In the U.S. economy, the inflation rate in 1975 peaked at ________ percent.

The Federal Reserve affecting the supply of money is known as

A transfer payment is the revenue one receives when filing for a tax refund.

The mechanism that normally coordinates what goes on in an economy is the

A prolonged and deep recession is called

The United States economy experienced stagflation during the

Microeconomics is concerned with

Dividends are paid by firms to shareholders.

A corporate bond is a ________ issued by a corporation when it borrows money.

A depression is a