BAMM-6101 - Macroeconomics Theory and Practice oed answer key

Showing 81 to 100 of 132 total answers.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

When the average level of prices increases over time the economy is said to be experiencing _______________.

Answer

InflationCorrect

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Civilian Non institutional Population - persons 16 years of age and older who are not inmates of institutions

Answer

TRUE

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Awesome StudentQuestion • Macroeconomics Theory and Practice

A period of decline in total output, income, employment, and trade, usually lasting from six months to a year.

Answer

RecessionCorrect

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Awesome StudentQuestion • Macroeconomics Theory and Practice

__________ is also referred to as a direct relationship. As the value of X increases, the value of Y increases.

Answer

PositiveCorrect

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Is the number of unemployed individuals divided by the total of those employed and unemployed total labor force.

Answer

Unemployment RateCorrect

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Real GDP - value of total output corrected for any changes in prices. Also referred to as "constant-dollar" GDP.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

__________ is an advantage of a person who can produce a good or service with fewer resources than another person.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

When many suppliers and many consumers (competitive) engaged in trade without interference from government (free).

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Awesome StudentQuestion • Macroeconomics Theory and Practice

When the government increases money supply faster than the economy is growing you generally end up with deflation.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

We can represent a single person's decision about how many items to purchase over a year in a table called a _______.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

___________is the quantity of goods and services that can be purchased with a given amount of money; the value of money

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Awesome StudentQuestion • Macroeconomics Theory and Practice

One of the Macroeconomic objectives is to develop better laws and government policies to maximize welfare of the society.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

__________ Unemployment is associated with business cycles and, more particularly, with temporary downturns in the economy

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Awesome StudentQuestion • Macroeconomics Theory and Practice

______________ - average output per hour of labor (e.g., total real GDP divided by the total number of labor-hours worked)

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Accurately describes historical outcomes, and It must make reasonable predictions about the results of future observations.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

__________ a variable that depends on the value of the independent variable(s) can be seen in the left side of the equation.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

When the amount that the quantity supplied exceeds the quantity demanded when the market price is above the equilibrium price

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Awesome StudentQuestion • Macroeconomics Theory and Practice

When the amount that the quantity demanded exceeds the quantity supplied when the market price is below the equilibrium price.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

______________ is the characteristic of money or currency where it can be used as a medium of exchange for any good or service.

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