MACROECONOMICS CHAPTER 1

Macroeconomics is concerned with all of the following except.....

• the growth of real output

• the level of unemployment

• the general level of prices

• production methods and costs

which of the following is a focus of the study of macroeconomics?

• inflation

• average cost

• individual demand

• factor market

Macroeconomics focuses on the study of economics from the standpoint of ...........

• individual economic units

• a typical firm

• a typical household

• the entire economy

Macroeconomics is concerned with the study of.........

• how Malaysian respond to oil price

• production methods and costs

• the effects of reduction of wages on agricultural output

• the general price level

The goal of macroeconomics is ...........

• to explain the economic changes that affect a particular household, firm or market

• to explain the economic changes that affect many households, firms, and market simultaneously

• to devise policies to deal with market failures, such as monopoly, externalities, common resources and public goods

• all of above