1. Introduction to Macroeconomics

In 1960, which country accounted for the largest share of world output, as measured by GDP?

In a macroeconomic context, what are implicit liabilities?

When nations desire a healthy macroeconomy, they typically focus on three main goals. One of these goals is:

During a period of stagflation, a nation is most likely experiencing which of the following?

Which type of economic system best describes the United States?

If an economy is unable to produce the goods and services that people want, which of the following is most likely to occur?

Which of the following is a true statement about the U.S. economic climate during the 1970s?

During the 2007–2009 recession, why did U.S. net exports increase?

The term 'liquidity trap' describes a macroeconomic scenario in which:

In the context of an increase in aggregate demand, what is the eventual effect on real GDP in the short run, assuming prices are sticky?

Which of the following statements best describes stagflation in the 1970s?

During his presidency, how did Woodrow Wilson attempt to control the U.S. economy?

The tax cut will have a larger impact on aggregate demand in the economy with the:

Which of the following has been a noted positive in the current global economic situation?

Which monetary policy strategy of the Federal Reserve is most likely reflected by headlines reporting a reduction in interest rates to stimulate economic growth?