Podcast
Questions and Answers
Which of the following is NOT a typical topic in macroeconomics?
Which of the following is NOT a typical topic in macroeconomics?
- Output
- Inflation
- Employment
- Microeconomics (correct)
What is a fallacy of composition?
What is a fallacy of composition?
- The error of assuming that what is true for a group is true for individuals
- The error of assuming that what is true for one group is true for another group
- The error of assuming that what is true for one person is true for another person
- The error of assuming that what is true for individuals is true for a group (correct)
What is an example of market failure?
What is an example of market failure?
- Monopsony
- Monopoly
- Perfect competition (correct)
- Oligopoly
Which approach measures the sum of all spending on consumption, investment, government purchases, and net exports?
Which approach measures the sum of all spending on consumption, investment, government purchases, and net exports?
What is the biggest sector in countries like Austria?
What is the biggest sector in countries like Austria?
Why do we use real GDP for time comparisons?
Why do we use real GDP for time comparisons?
What is the main difference between GDP and the Human Development Index (HDI)?
What is the main difference between GDP and the Human Development Index (HDI)?
What can the government do to fight inflation through fiscal policy?
What can the government do to fight inflation through fiscal policy?
When are deficit rules problematic?
When are deficit rules problematic?
Why was the 60% public debt threshold chosen under unrealistic growth assumptions in the 1990s?
Why was the 60% public debt threshold chosen under unrealistic growth assumptions in the 1990s?
According to the Keynesian model, why can there be persistent unemployment?
According to the Keynesian model, why can there be persistent unemployment?
According to the Keynesian model, why don't firms invest more if saving is increased?
According to the Keynesian model, why don't firms invest more if saving is increased?
What are passive labor market policies?
What are passive labor market policies?
Which of the following is NOT a duty of the central bank?
Which of the following is NOT a duty of the central bank?
What powers does a sovereign government have when it comes to money and currencies?
What powers does a sovereign government have when it comes to money and currencies?
What is the purpose of legal tender laws?
What is the purpose of legal tender laws?
What is the top of the pyramid of liabilities in the financial system?
What is the top of the pyramid of liabilities in the financial system?
What is the difference between inflation and a one-off price rise?
What is the difference between inflation and a one-off price rise?
What are the effects of unemployment?
What are the effects of unemployment?
What are the four types of unemployment mentioned in the text?
What are the four types of unemployment mentioned in the text?
How is full employment defined according to the text?
How is full employment defined according to the text?
How is the (real) wage determined in the simple neoclassical model?
How is the (real) wage determined in the simple neoclassical model?
Which one of these is an example of fiscal policy?
Which one of these is an example of fiscal policy?
Which one of these is a characteristic of neoclassical economics?
Which one of these is a characteristic of neoclassical economics?
What kind of data is survey data?
What kind of data is survey data?
What does GDP measure?
What does GDP measure?
