Introduction to Macroeconomics
Which best describes what occurs in the product market?
the exchange of goods and services for money
Macroeconomic equilibrium occurs when aggregate supply and aggregate demand meet. What does this indicate about society?
Society’s supply and demand have stagnated.
In microeconomics, what occurs when equilibrium is reached?
This is a graph showing price and total output in the short and long run.
The circular flow model examines interactions between which sectors of the economy? Check all that apply.
Which body or group is most able to use money to influence the economy?
Which challenges faced by an economy are examined in macroeconomics? Check all that apply.
The aim of the study of macroeconomics is to examine
Which best describes what injector factors bring to an economic system?
Which best describes why a government’s actions are important within macroeconomics?