Podcast
Questions and Answers
What is the main objective of macroeconomics?
What is the main objective of macroeconomics?
- To provide policy prescriptions for economic growth
- To analyze the impact of international trade on the economy
- To develop theoretical models that describe the processes determining economic variables (correct)
- To provide a historical account of economic events
What is the assumption that allows us to concentrate on the determination of a particular variable in macroeconomics?
What is the assumption that allows us to concentrate on the determination of a particular variable in macroeconomics?
- Rational expectations assumption
- Ceteris paribus assumption (correct)
- Fixed price assumption
- Autonomous consumption assumption
What is the scenario in which the chapter focuses on the determination of National Income?
What is the scenario in which the chapter focuses on the determination of National Income?
- Fixed price of labor and constant rate of unemployment
- Fixed price of capital and constant rate of inflation
- Fixed price of goods and constant rate of economic growth
- Fixed price of final goods and constant rate of interest (correct)
What is the primary concern of macroeconomic models?
What is the primary concern of macroeconomic models?
Why is it difficult to account for all variables at the same time in macroeconomics?
Why is it difficult to account for all variables at the same time in macroeconomics?
What is the approach used to solve for the values of two variables in macroeconomics?
What is the approach used to solve for the values of two variables in macroeconomics?
What is the theoretical tool used to describe the processes that determine the values of economic variables?
What is the theoretical tool used to describe the processes that determine the values of economic variables?
What is the primary focus of the chapter in terms of the determination of National Income?
What is the primary focus of the chapter in terms of the determination of National Income?
What is the underlying principle of the analysis of the macroeconomic system?
What is the underlying principle of the analysis of the macroeconomic system?
What is the purpose of developing macroeconomic models?
What is the purpose of developing macroeconomic models?
