Podcast
Questions and Answers
What is the average annual GDP growth over the long run?
What is the average annual GDP growth over the long run?
- 5% (correct)
- 3%
- 9%
- 7%
Which tends to be less volatile during fluctuations, consumption or investment?
Which tends to be less volatile during fluctuations, consumption or investment?
- Consumption (correct)
- Investment
- Neither is volatile
- Both are equally volatile
During which economic phase does unemployment rise?
During which economic phase does unemployment rise?
- Boom
- Stagnation
- Expansions
- Recessions (correct)
What is Okun's law related to?
What is Okun's law related to?
What are Leading Economic Indicators used for by businesses and government?
What are Leading Economic Indicators used for by businesses and government?
In the context of leading economic indicators, which of the following is considered a lagging indicator?
In the context of leading economic indicators, which of the following is considered a lagging indicator?
In the AS-AD model, what does an increase in the price level cause in terms of real money balances and the demand for goods and services?
In the AS-AD model, what does an increase in the price level cause in terms of real money balances and the demand for goods and services?
What does the long-run aggregate supply (LRAS) curve look like?
What does the long-run aggregate supply (LRAS) curve look like?
What does 'full employment' mean in the context of long-run aggregate supply (LRAS)?
What does 'full employment' mean in the context of long-run aggregate supply (LRAS)?
Which time horizon in macroeconomics assumes complete price flexibility?
Which time horizon in macroeconomics assumes complete price flexibility?
What is the average annual GDP growth over the long run?
What is the average annual GDP growth over the long run?
During which economic phase does unemployment rise?
During which economic phase does unemployment rise?
What does Okun’s law describe?
What does Okun’s law describe?
What do Leading Economic Indicators aim to forecast?
What do Leading Economic Indicators aim to forecast?
What does the quantity theory of money equation 𝑴𝑽 =𝑷𝒀 imply?
What does the quantity theory of money equation 𝑴𝑽 =𝑷𝒀 imply?
In the context of leading economic indicators, which of the following is considered a lagging indicator?
In the context of leading economic indicators, which of the following is considered a lagging indicator?
What does 'full employment' mean in the context of long-run aggregate supply (LRAS)?
What does 'full employment' mean in the context of long-run aggregate supply (LRAS)?
What is the relationship between the price level and aggregate output in the long run?
What is the relationship between the price level and aggregate output in the long run?
What does an increase in the price level cause in terms of real money balances and the demand for goods and services according to the AS-AD model?
What does an increase in the price level cause in terms of real money balances and the demand for goods and services according to the AS-AD model?
Which factor determines output in the long run according to aggregate supply?
Which factor determines output in the long run according to aggregate supply?
What is assumed to be sticky at a predetermined level in the short run?
What is assumed to be sticky at a predetermined level in the short run?
Which economic phase does unemployment rise?
Which economic phase does unemployment rise?
What is affected by fiscal policy (𝐺 and 𝑇) according to the short run model of aggregate demand and supply?
What is affected by fiscal policy (𝐺 and 𝑇) according to the short run model of aggregate demand and supply?
Which of the following is used to forecast future economic trends according to leading economic indicators?
Which of the following is used to forecast future economic trends according to leading economic indicators?
What does the aggregate demand curve show in relation to the price level according to the AS-AD model?
What does the aggregate demand curve show in relation to the price level according to the AS-AD model?
What is determined by supply side factors such as supplies of capital, labor, and technology in macroeconomics?
What is determined by supply side factors such as supplies of capital, labor, and technology in macroeconomics?
