Which of the following best describes a monetary policy tool?

The basic difference between macroeconomics and microeconomics is that:

_____________ - a term referring to the fact that for many goods, as the level of production increases, the average cost of producing each individual unit declines.

The two main tools of macroeconomic policy include monetary policy, and fiscal policy, which involves __________ spending.

In the ____________, households work and receive payment from firms.

Macroeconomics:

Scarcity implies that:

Marginal thinking is best demonstrated by:

The opportunity cost of an action:

Which of the following would most likely shift the production possibilities curve inward?

As depicted in _________________________________, it is necessary to give up some of one good to gain more of the other good.

In economics, the demand for a good refers to the amount of the good that people:

After widespread press reports about the dangers of contracting "mad cow disease" by consuming beef from Canada, the likely economic effect on the U.S. demand curve for beef from Canada is:

The downward slope of the demand curve again illustrates the pattern that as _____________ rises, _________________ decreases.

_________ is calculated by taking _________ and then subtracting the value of how much physical capital is worn out, or reduced in value because of aging, over the course of a year.

Which of the following is included in GDP calculations?

Which of the following is true?

Investment (I) includes:

GDP does not directly include:

A business cycle reflects changes in economic activity, particularly real GDP. The stages of a business cycle are:

The change in inventories, a component of aggregate supply, comprises roughly __________ of GDP.

To achieve a high standard of living, a nation should:

In macroeconomics, the connection from inputs to outputs for the entire economy is called _______________.

Country Able and Country Baker initially have the same real GDP per capita. Country Able experiences no economic growth, while Country Baker grows at a sustained rate of 7 percent. In 12 years, Country Baker's GDP will be approximately ___________ that of Country Able.

Of the world’s population of 6.7 billion people, _________ are scraping by on incomes that average less than $2 per day.

Which of the following is unlikely to affect the rate of economic growth?

A nation can achieve higher economic growth if:

The unemployment rate may overestimate the true extent of unemployment if:

Freelife, New Hampshire has a labor force of 78,567 persons and employment of 74,382. The unemployment rate for the city is:

Through good economic years and bad, many European economies had unemployment rates hovering near _________ since the 1970s.

Cyclical unemployment arises when:

Suppose that everyone who has looked for a job for more than six months gave up in despair and stopped looking. What would happen to the unemployment rate?

The extent of _______________________ will depend on how easy it is for workers to learn about alternative jobs, which may reflect the ease of communications about job prospects in the economy.

The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals:

Nancy's union has negotiated a three-year wage contract that provides for a 2.4% increase indexed to inflation. The rates of inflation are forecast to be 1.62%, 1.93% and 2.21% respectively. How will Nancy's wage increase be expressed in the new contract?

While one occasionally sees references to inflation over short time periods, the term typically implies a(n)_____________ in prices.

Which of the following is an example of one of the major categories in the overall CPI?

In the 1970s and 1980s, labor unions commonly negotiated wage contracts that had _______________________ which guaranteed that their wages would keep up with inflation.

An analyst needs to adjust the nominal GDP for the years 2000 and 2010 into real terms to conclude his comparison analysis. The nominal GDP in 2000 was $672 billion and $1,690 billion for 2010; the real interest rate was 6.79% in 2000 and 3.71% in 2010; the 2000 deflator was 24 and 51 in 2010. What is the real gain?

Only one of the following statements about trade surplus and capital flow is correct. Which one is it?

A country finds itself in the following situation: a government budget deficit of $800; total domestic savings of $1800, and total domestic physical capital investment of $1300. According to the national saving and investment identity, what is the current account balance?

Economists typically rely on a broader measure of international trade known as the ___________________, which includes _____________________________.

With respect to the national saving and investment identity for any country, the quantity of _______________ at any given time by savings must ________________ for purposes of making investments.

Assume that the level of domestic investment in a country rises, while the level of private and public saving remains unchanged. In these circumstances:

The _____________ holds that a rise in price level will make domestic goods relatively more expensive, ____________ exports and _______________ imports.

Changes in the price level of the different components of aggregate demand are reflected in the AD/ASAD/AS macroeconomic model by a ________________________.

When an economy's output increases and the price level decreases, the _________ curve has shifted to the ____________.