Introduction to Macroeconomics

Question 1

Which body or group is most able to use money to influence the economy?

Revolt · Accepted Answer

government

Question 2

Which best describes why taxes and savings are considered leakage factors?

Revolt · Accepted Answer

They take money out of the economic system.

Question 3

Which statement best describes the circular flow model?

Revolt · Accepted Answer

The model represents the movement of money and resources throughout the economy.

Question 4

The aim of the study of macroeconomics is to examine

Revolt · Accepted Answer

the behavior of factors affecting the economy.

Question 5

The circular flow model examines interactions between which sectors of the economy? Select THREE answers.privategovernmentforeigntechhouseholds

Question 6

Which best describes what injector factors bring to an economic system?

Revolt · Accepted Answer

money

Question 7

Which best describes what occurs in the product market?

Revolt · Accepted Answer

the exchange of goods and services for money

Question 8

Which best describes the purpose served by economic models within an economic system?

Revolt · Accepted Answer

Models identify patterns.

Question 9

This is a graph showing price and total output in the short and long run. According to this graph, how does supply behave in the long run?

Revolt · Accepted Answer

Output remains constant.

Question 10

In macroeconomics, the economy can best be understood through the use of

Revolt · Accepted Answer

models.

Introduction to Macroeconomics Answers