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