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Economics_Macroeconomics Measures Flashcards | StudBud
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Economics_Macroeconomics Measures
Economics_Macroeconomics Measures
9 terms
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StudBud Administration
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Macroeconomic measures #gdp #uneemployment
Flashcards
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Questions
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Answers
1
The primary measure of a nation's macroeconomic performance is
NYSE
Gross Domestic Product (GDP)
standard of living
production possibilities curve
2
What group of people are hurt most by inflation?
people who have part-time jobs
rich people
people on fixed incomes
young people
3
The theory that too much money in circulation causes inflation is called
demand-pull theory
hyper theory
quantity theory
cost-push theory
4
What are the 3 major measures of macroeconomic activity?
opportunity cost, GDP, CPI
unemployment, thinking at the margin, CPI
GDP, CPI, unemployment
GDP, Equilibrium, unemployment
5
Which of the following would not be included in the US GDP for 2016?
Peaches grown in Fort Valley in 2016
a Ford truck made in Michigan in 2016
a Toyota truck made in California in 2016
a steel beam used in the HOCO renovation in 2016
6
The low point in the business cycle is called
growth/recovery/expansion
trough
contraction/recession/depression
peak
7
Mr. Nick is laid off his job as Santa Claus on Dec. 26th. What type of unemployment is this?
structural
cyclical
frictional
seasonal
8
What type of unemployment occurs during the CRD phase of the business cycle?
seasobal
cyclical
structural
frictional
9
Aggregate demand and aggregate supply both increase during what phase of the business cycle?
contraction/recession/depression
peak
growth/recovery/expansion
trough
