Macroeconomics vs Microeconomics Overview

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What inspired Keynes to write about Macroeconomics in the 1930s?

The increase in domestic investment expenditure

The success of developing countries

The Great Depression's impact on developed economies (correct)

The rise of capitalist enterprises

In a capitalist economy, who are the major players according to the text?

Government, external sector, and firms

Foreign investors, households, and firms

Entrepreneurs, government, and households

Households, firms, government, and external sector (correct)

Which sector is considered the fourth important sector in Macroeconomics?

Government

Households

External sector (correct)

Firms

In terms of international trade, what are considered the two kinds of trade that a country can engage in?

Imports and exports Signup and view all the answers

How does the rest of the world affect a domestic economy apart from trade?

By influencing investment expenditure Signup and view all the answers

Which concept is used to describe factors like land and capital in economics?

$Means of production$ Signup and view all the answers

What is the term used for entities like households, firms, and government in economics?

$Economic agents or units$ Signup and view all the answers

Which type of country is focused on generating revenue primarily through businesses and investments?

$Capitalist country$ Signup and view all the answers

'Macroeconomics sees an economy as a combination of four sectors'. Which of the following is NOT one of those sectors?

$Farms$ Signup and view all the answers

'Capital from foreign countries may flow into the domestic country'. What does this flow of capital represent?

$Foreign investment inflow$ Signup and view all the answers

Macroeconomics vs Microeconomics Overview

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Questions and Answers

What inspired Keynes to write about Macroeconomics in the 1930s?

In a capitalist economy, who are the major players according to the text?

Which sector is considered the fourth important sector in Macroeconomics?

In terms of international trade, what are considered the two kinds of trade that a country can engage in?

How does the rest of the world affect a domestic economy apart from trade?

Which concept is used to describe factors like land and capital in economics?

What is the term used for entities like households, firms, and government in economics?

Which type of country is focused on generating revenue primarily through businesses and investments?

'Macroeconomics sees an economy as a combination of four sectors'. Which of the following is NOT one of those sectors?

'Capital from foreign countries may flow into the domestic country'. What does this flow of capital represent?

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