Mastering Macroeconomics

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Questions and Answers

What is the main difference between accounting and finance?

Accounting and finance have the same focus on money that will be spent
Accounting looks at money that will be spent, while finance focuses on the day-to-day flow of money
Accounting and finance have the same focus on the day-to-day flow of money
Accounting focuses on the day-to-day flow of money, while finance looks at money that will be spent (correct)

Which one of these is NOT a learning outcome mentioned in the overview of macroeconomics lecture?

LO3. Explain how the macroeconomic long term and short term objectives are inter-related
LO2. Issues addressed by Macroeconomists
LO1. Economics and its kinds
LO4. Brief overview of fundamental concepts (correct)

What does finance look after in a business?

The long-term objectives of the business
The day-to-day flow of money
The assets and distribution of money (correct)
The regulations and compliance of money spent

What is the main focus of economics?

The combination of aspects (B) Signup and view all the answers

What is the main difference between classical and Keynesian approaches in macroeconomics?

Classical approach focuses on monetary policy, while Keynesian approach focuses on fiscal policy (D) Signup and view all the answers

What is the main focus of accounting?

Recording and reporting on past financial transactions (C) Signup and view all the answers

What is the main focus of finance?

Planning and distributing business assets (C) Signup and view all the answers

What is the main difference between accounting and finance?

Accounting focuses on past financial transactions, while finance focuses on future spending (D) Signup and view all the answers

What is the main difference between macroeconomic long term and short term objectives?

Long term objectives focus on the overall health of the economy, while short term objectives focus on immediate economic fluctuations (B) Signup and view all the answers