Multiple Choice
The ability of macroeconomists to predict the future course of economic events:
A) is no better than the meteorologist's ability to predict the next month's weather.
B) is much better than the meteorologist's ability to predict the next month's weather.
C) has gotten worse over time.
D) is less precise than it was in the 1920s.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The unemployment rate:<br>A) was zero during the
Q3: When studying the short-run behavior of the
Q4: The study of the economy as a
Q5: A severe recession is called a(n):<br>A) depression.<br>B)
Q6: In a simple model of the supply
Q7: Macroeconomists cannot conduct controlled experiments, such as
Q8: How does the distinction between flexible and
Q9: The assumption of continuous market clearing means
Q10: Which of the following is the best
Q11: Recessions are periods when real GDP:<br>A) increases