The aim of the study of macroeconomics is to examine
The economy’s behavior
Which best describes the purpose served by economic models within an economic system?
Models identify patterns
Why are imports, which bring goods into a country, considered a leakage factor?
The money paid to producers of imports leaves the country
Which best describes why a government’s actions are important within macroeconomics?
Government can use policy to influence the economy
In macroeconomics, the economy can best be understood through the use of
In microeconomics, what occurs when equilibrium is reached?
Prices are set
Which best describes why taxes and savings are considered leakage factors?
They take money out of the economic system
Macroeconomic equilibrium occurs when aggregate supply and aggregate demand meet. What does this indicate about society?
Society is using all of its resources efficiently
Which best describes what injector factors bring to an economic system?