MACRO ECON Review - Pt. 1

Question 1

What would a demand-side economist recommend in a recession?

Accepted Answer

increase GOV spending

Question 2

When your job is outsourced...

Accepted Answer

Structural

Question 3

When expenditures exceed revenues...

Accepted Answer

deficit

Question 4

All of the following are characteristics of money except...

Accepted Answer

disposable

Question 5

Decrease in GDP combined with increase in inflation...

Accepted Answer

Stagflation

Question 6

Which of the following is the expenditure approach?

Accepted Answer

C + I + G + (X - M)

Question 7

To whom does the U.S. owe $$$?

Accepted Answer

Whoever is a "holder" of its debt

Question 8

Easily converted into cash means it's LIQUID.

Accepted Answer

True

Question 9

Supply-side economists are OK with higher taxes.

Accepted Answer

False

Question 10

Who benefits from high inflation?

Accepted Answer

People in debt

Question 11

When managing the economy, a "monetarist" believes it's all about the $$$ supply!

Accepted Answer

True

Question 12

Largest source revenue for the federal GOV...

Accepted Answer

income tax

Question 13

Too much $$$ in circulation...

Accepted Answer

Quantitative

Question 14

The Federal Reserve is responsible for...

Accepted Answer

Monetary Policy

Question 15

For income taxes, the U.S. has which tax structure?

Accepted Answer

Progressive

Questions 15