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Macroeconomics Flashcards | StudBud
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Macroeconomics
Macroeconomics
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Review of Macroeconomic concepts.
Flashcards
20 cards
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Questions
20
Answers
1
GDP is a direct reflection of a country's ______________.
Inflation Rate
Aggregate Supply
Aggregate Demand
Monetary Policy
2
Which of the following is NOT a factor that economists would look at to determine econ. health?
Unemployment
GDP
Price Elasticity
CPI
3
The graph in the picture is known as a...
exchange table
business cycle
production possibilities curve
cost-benefit analysis
4
Who is the current chairman of the Federal Reserve?
Ayn Rand
Alan Greenspan
Jerome Powell
Bill Brasky
5
The amount of debt that a country accumulates in one fiscal year is known as...
bankruptcy
budget deficit
national debt
contraction
6
CPI is measured by pricing _____ from one year to another, and calculating the change in price.
market structures
a basket of goods
exchange rate
the stock market
7
The yearly total value of all finished good/services produced within a a country is known as...
Gross Domestic Product
Multiplier Effect
Consumer Price Index
Aggregate Supply
8
Unemployment that results from recessions would be considered...
cyclical.
frictional.
structural.
marginal.
9
If the Federal Reserve has raised the federal funds rate, what policy is being implemented?
expansionary monetary policy
contractionary monetary policy
contractionary fiscal policy
expansionary fiscal policy
10
The total amount of debt that a country owes accumulated over multiple years is known as...
depression
budget deficit
foreclosure
national debt
11
The government raises taxes or decreases spending, what policy is being exercised?
expansionary fiscal policy
contractionary monetary policy
contractionary fiscal policy
expansionary monetary policy
12
When the government lowers taxes and/or increases spending they're exercising what policy?
contractionary fiscal policy
expansionary monetary policy
expansionary fiscal policy
contractionary monetary policy
13
Which of the following would impact aggregate supply?
Purchasing a car
Purchasing 100k computers from China
Discovering an oil field
Government contract to build 20 fighter jets
14
If a person's job is replaced by technology (ie: a machine), the unemployment that results is..
cyclical.
frictional.
seasonal.
structural.
15
Consumer Price Index (CPI) is a measurement of...
inflation.
unemployment.
international trade.
exchange rates.
16
What strategy would economists advocate for if the economy is in a recession?
expansionary policy
contractionary policy
balance of payments
balance of trade
17
You have to be at least ___ years old to be considered part of the labor force.
18
21
16
14
18
When the Fed BUYS bonds on the open market they are exercising what kind of policy?
expansionary fiscal policy
contractionary monetary policy
expansionary monetary policy
contractionary fiscal policy
19
Which of the following is NOT part of the organization of the Federal Reserve Bank?
Federal Open Market Committee
12 Regional Banks across the US
7 Board of Governors
Senate Appropriations Committee
20
C + I + G + (X-M) = ???
Unemployment
CPI
GDP
PPC
