12 Questions
What event is known as Black Thursday in American history?
The stock market crash on October 24, 1929
What led to the drop in agricultural prices during the Great Depression?
Overabundance of food grains in the market
Which country experienced a rise in unemployment from 3% to 25% during the Great Depression?
United States
What is one key characteristic of a capitalist economy?
Private property
Which economic structure is also known as a free-market economy?
Capitalist economy
What is the role of the government in a capitalist economy?
Maintain law and order only
What is the meaning of the term 'macro' in macroeconomics?
Large
When did macroeconomics emerge as a branch of economics?
In 1936
What is an aggregate in economics?
A collection of economic subjects with common characteristics
Which event is widely considered as the worst and longest economic downturn in modern history?
The Great Depression
What types of entities are referred to as economic agents?
Individuals or institutions making economic decisions
What event is said to have marked the beginning of the Great Depression?
The October 1929 stock market crash in the United States
Learn the basics of macroeconomics, which involves the study of economic processes on a larger scale, focusing on aggregates and economic relationships. Explore the origins and key concepts of macroeconomics, including its emergence after John Maynard Keynes' influential book in 1936.
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