Introduction to Macroeconomics

Question 1

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

Revolt · Accepted Answer

money

Question 2

Economic interactions involving which of the following would most likely be studied in macroeconomics?

Revolt · Accepted Answer

International Monetary Fund policy

Question 3

What is the relationship between aggregate demand and the price level?

Revolt · Accepted Answer

They are inversely related.

Question 4

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

Revolt · Accepted Answer

They take money out of the economic system.

Question 5

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 6

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

Revolt · Accepted Answer

government

Question 7

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

Question 8

Which statement best describes the circular flow model?

Revolt · Accepted Answer

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

Question 9

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

Revolt · Accepted Answer

models.

Question 10

In microeconomics, what occurs when equilibrium is reached?

Revolt · Accepted Answer

Prices are set.

Introduction to Macroeconomics Answers