Introduction to Macroeconomics Answers
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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?
A
Output remains constant.B
Output increases.C
Output cannot be predicted.D
Output decreases.2
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Economic interactions involving which of the following would most likely be studied in macroeconomics?
A
a family’s financesB
trade at a duty-free shop on the U.S.-Canadian borderC
International Monetary Fund policyD
a small company’s supply contract for a local town3
Which body or group is most able to use money to influence the economy?
A
governmentB
suppliersC
firmsD
producers4
Which statement best describes the circular flow model?
A
The model represents the movement of money and resources throughout the economy.B
The model represents the interactions within sectors.C
The model represents the flow of goods and services abroad.D
The model represents the changing relationships between actors.Did you find these answers helpful?
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