Understanding Macroeconomics

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Questions and Answers

Which variables are key in the study of macroeconomics?

  • Output, employment, and the price level (correct)
  • Input, employment, and the price level
  • Output, employment, and the wage level
  • Output, unemployment, and the price level

Which factor determines a country's output?

  • Price level
  • Unemployment rate
  • Business growth
  • Employment rate (correct)

What constitutes a 'healthy' economy?

  • Low output growth and fluctuating price level
  • High output growth and fluctuating price level
  • High unemployment rate and stable price level
  • Low unemployment rate, stable price level, and sustainable output growth (correct)

What causes prices to fluctuate in an economy?

<p>Various factors such as supply and demand (D)</p>
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Why do different countries have different unemployment rates?

<p>Different employment rates (B)</p>
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