Podcast
Questions and Answers
What is the primary focus of macroeconomists in the short-run?
What is the primary focus of macroeconomists in the short-run?
- Measuring the impact of monetary policy on inflation
- Analyzing the distribution of income
- Studying the dynamics of output over long horizons of time
- Studying economic fluctuations (correct)
What was the approximate percentage of homes in the United States with electricity at the beginning of the 20th century?
What was the approximate percentage of homes in the United States with electricity at the beginning of the 20th century?
- 2% (correct)
- 20%
- 8%
- 5%
What is the primary driver of improved living standards in the 20th century?
What is the primary driver of improved living standards in the 20th century?
- Advances in technology
- The growing ability of the economy to produce goods and services (correct)
- Increased government spending
- Trade liberalization
Why do macroeconomists study economic growth?
Why do macroeconomists study economic growth?
What is the term used to describe the differences between actual output and potential output?
What is the term used to describe the differences between actual output and potential output?
What is the key statistic to track economic growth?
What is the key statistic to track economic growth?
What is the purpose of expressing real GDP in per capita terms?
What is the purpose of expressing real GDP in per capita terms?
Why do macroeconomists use PPP exchange rates over market established exchange rates for international comparisons?
Why do macroeconomists use PPP exchange rates over market established exchange rates for international comparisons?
What is the formula to express the percentage variation of GDP per capita?
What is the formula to express the percentage variation of GDP per capita?
What is the main purpose of using a common currency, such as US$, for international comparisons?
What is the main purpose of using a common currency, such as US$, for international comparisons?
