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Questions and Answers
Which of the following best describes macroeconomics?
Which of the following best describes macroeconomics?
- The study of individual economic behavior
- The study of major economic issues (correct)
- The study of economic history
- The study of small economic issues
What is the Global Economic Crisis?
What is the Global Economic Crisis?
- A crisis that began in 2007 that depressed economic activity worldwide (correct)
- A crisis that occurred in the 1970s that led to high inflation rates
- A crisis that began in 2010 that affected only the American economy
- A crisis that resulted in the loss of income and jobs for millions of American families
What does the unemployment rate measure?
What does the unemployment rate measure?
- The number of persons unemployed who are actively looking for work (correct)
- The number of persons employed in a specific industry
- The number of persons unemployed who have given up looking for work
- The number of persons employed in the economy
How can macroeconomic performance affect family savings?
How can macroeconomic performance affect family savings?
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What is the significance of the "Big Three" concepts of macroeconomics?
What is the significance of the "Big Three" concepts of macroeconomics?
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