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Questions and Answers
Which of the following best describes the study of national economies, including issues such as inflation, unemployment, and economic growth?
Which of the following best describes the study of national economies, including issues such as inflation, unemployment, and economic growth?
- Fiscal economics
- Microeconomics
- Market economics
- Macroeconomics (correct)
What is the term used to describe a situation where the total output of an economy is below its potential level?
What is the term used to describe a situation where the total output of an economy is below its potential level?
- Recession (correct)
- Inflation
- Deflation
- Stagnation
Which of the following is NOT a goal of macroeconomic policy?
Which of the following is NOT a goal of macroeconomic policy?
- Full employment
- Equitable distribution of income
- Maximizing profits for firms (correct)
- Price stability
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