MACROECONOMICS: Chapter 1

"The economy must operates at maximum capacity" refers to _________.

• full employment

• price stability

• economic growth

• equitable distribution of income

Macroeconomics is the study of __________.

• demand and supply of the individual economic

• aggregate demand of the entire economic

• aggregate demand and aggregate supply of the entire economic

• aggregate supply of the entire economic

Microeconomics and macroeconomics differ in the terms of _____________.

• studies national income and analyzes total employment in the economy

• studies individual income and analyzes demand and supply for goods

• studies national income and analyzes demand for and supply of labour

• studies individual income and analyzes total employment in the economy

Which of the following is a field of macroeconomics?

• Price of luxury car

• Inflation rate in the country

• Production methods and cost

• Demand for smartphone

The followings are macroeconomic goals EXCEPT________.

• Full employment

• Price stability

• Fiscal policy

• Economic growth

The following are problems in macroeconomic goals EXCEPT ________.

• To achieve full employment and maintain price stability

• To achieve economic growth and maintain price stability

• To achieve economic growth and an equilibrium in income

• To achieve full employment and an equilibrium in Balance of Payments

The equilibrium price level and level of real domestic output occur when _______.

• the aggregate demand and supply curve intersect

• the exports are equal to imports

• there is full employment

• real domestic output is at its maximum level

Based on the image, it will create ________ problem in long term.

• price stability

• unemployment

• economic growth

• export

The equilibrium price level and level of real domestic output occur when _______.

• the aggregate demand and supply curve intersect

• the exports are equal to imports

• there is full employment

• real domestic output is at its maximum level

Which of the following statement is true about Macroeconomics?

• Macroeconomics operates on a smaller scale

• Macroeconomics includes household and firm

• Macroeconomics measures cost of production

• Macroeconomics focuses on the economy as a whole