Macroeconomic Analysis of Tourism: Economic Growth
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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?

  • 2% (correct)
  • 20%
  • 8%
  • 5%

    • 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?

    <p>To understand why economic growth occurs faster in some times and places than in others</p> Signup and view all the answers

    What is the term used to describe the differences between actual output and potential output?

    <p>Economic fluctuations</p> Signup and view all the answers

    What is the key statistic to track economic growth?

    <p>Real GDP per capita</p> Signup and view all the answers

    What is the purpose of expressing real GDP in per capita terms?

    <p>To isolate the effect of changes in the population and to have an indicator of the standard of living</p> Signup and view all the answers

    Why do macroeconomists use PPP exchange rates over market established exchange rates for international comparisons?

    <p>Because market established exchange rates are more volatile</p> Signup and view all the answers

    What is the formula to express the percentage variation of GDP per capita?

    <p>∆% real GDP pc = ∆% real GDP - ∆% Population</p> Signup and view all the answers

    What is the main purpose of using a common currency, such as US$, for international comparisons?

    <p>To convert the GDP of each country to a unique currency</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser