Introduction to Macroeconomics
During a business cycle expansion, total production ________ and total employment ________.
To create a macro, you can enter a series of commands in the _____ programming language.
Which of the following is a price index based on?
An increase in current income taxes ______ the supply of loanable funds today because it ______.
How has automation affected highly skilled workers?
All other things being equal, when the demand for money decreases _____
Supply-side economics is based on the theory that if taxes are reduced, _____.
Labor productivity will increase if the ________ increases and ________.
A downward-moving gdp indicates that ________.
Because of monopoly, consumers experience ________ than with perfect competition.
The most significant difference between a partnership and a sole proprietor is the ________.
Saving is _____
Leading economic indicators are factors that economists at the Department of Commerce have found typically change before changes in economic activity
When one commercial bank borrows from another commercial bank, it pays the __________ rate.
When the economy is at full employment, _____ is zero.
At macroeconomic equilibrium, total ________ equals total ________.
The number of people age ___ and over who are available for employment is labour force
Everything else held constant, when the price of a product increases _______
The unemployment that results from the persistent mismatch of the skills of workers and the requirements of jobs is ____ employment
If the number of people in the labor force ________, then ________.
Tax cuts on business income ________ aggregate demand.
The percentage of the working-age population in the labor force is called labour force participation rate
A rise in mpc makes the total expenditures (te) curve __________ and __________ the multiplier.
The compounding effect ________ savers and _________ borrowers.
When an economy is expanding, unemployment tends to _____ and overall prices tend to _____.
A person who quits his or her job is job leaver
The ratio of the increase in ________ to the increase in ________ is called the multiplier.
The unemployment that results from workers searching for suitable jobs and firms looking for suitable workers is frictional unemployment
The ____ level of prices in the economy is price level
Improvements in _____ technology have helped make globalization possible.
Physical capital is _______. financial capital is _______.
Compared to personal computers, cell phones _____.
An individual who has been temporarily laid off or fired is job loser
Unemployment due to short-term cyclical fluctuations in the economy is cyclical unemployment
Exchange rates, interest rates, and inflation are all considered part of the _________ environment.
Gdp measured using base year prices is called _____.
Expansionary fiscal policy ________ the price level and ________ equilibrium real gdp.
The amount of real output the economy would produce if its labor and other resources were fully employed is known as ______.
When the economy is slowing down—measured from the peak to the trough is called
An expansionary fiscal policy either _____ government spending or _____ taxes.
Money that has no value other than as money is called ______ money.
Under employment is a situation in which a worker’s skill level is higher than necessary for a job
In economics, the factor of production "land" includes all of the following except ________.
The price of a specific good compared to the price of other goods is known as ______.
The immediate change is ______ in m1 of $1,000 and ______ in m2.
The price of a specific good compared to the price of other goods is called
How many different phases does the business cycle have?
Short-term fluctuations in the economy relative to the long-term trend in output is called
The 45-degree line in the keynesian model represents a set of points where _____ equals _____.
Inflation results in _____.