Macroeconomics and the Global Economic Crisis
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Questions and Answers

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?

  • 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?

  • 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?

    <p>It can decrease the value of family savings</p> Signup and view all the answers

    What is the significance of the "Big Three" concepts of macroeconomics?

    <p>They are major economic aggregates studied in macroeconomics</p> Signup and view all the answers

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