15 Questions
Which branch of economics has a target to enhance global macroeconomic stability through policy coordination and coherence as part of the 2030 Agenda?
Macroeconomics
Which field of economics deals with the performance, structure, behavior, and decision-making of an economy as a whole?
Macroeconomics
What are some topics studied by macroeconomists?
Interest rates and taxes
What are the two most general fields in economics?
Macroeconomics and microeconomics
According to economists Emi Nakamura and Jón Steinsson, what is the state of evidence regarding the consequences of different macroeconomic policies?
Highly imperfect
What are some sources of unemployment?
All of the above
According to the OECD, how is unemployment measured?
By the number of people who are unemployed as a percentage of the labour force
How can a country influence the status of the economy?
Through fiscal policy
What is the role of the central bank in influencing the economy?
To influence the availability and cost of money through monetary policy
Which organization defines GDP as 'an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production and services (plus any taxes, and minus any subsidies, on products not included in the value of their outputs)'?
The Organisation for Economic Co-operation and Development (OECD)
What does the unemployment rate measure?
The number of people who are unemployed as a percentage of the labour force
GDP is most often used by which entity to measure its economic health?
The government of a single country
What does GDP measure?
The market value of all the final goods and services produced in a specific time period by a country or countries
According to the text, why is GDP often revised before being considered a reliable indicator?
Due to its complex and subjective nature
What is the role of GDP definitions?
To be maintained by a number of national and international economic organizations
Test your knowledge of Macroeconomics with this quiz! Explore topics such as GDP, unemployment, interest rates, and government spending. Challenge yourself and see how well you understand the performance and behavior of economies at a regional, national, and global level.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
