1. Introduction to Macroeconomics

The accompanying graph depicts an economy in the production possibilities frontier (PPF). What does a point inside the PPF represent?

Consumption, investment, government spending, exports, and imports are components of which macroeconomic measure?

Which of the following best describes the two primary topics studied by macroeconomics?

In macroeconomics, the economy can best be understood through the use of:

Which of the following are two ways in which Cuba has recently reformed its economy?

An inflationary expenditure gap is the amount by which:

The slow growth of U.S. incomes during the 1970s and 1980s can best be explained by which of the following?

Expansionary fiscal policy is typically implemented when the economy is experiencing which of the following conditions?

Which of the following is an example of a closed economy?

How can rising U.S. inflation rates impact economies in other countries?

Which of the following is true when the economy is at full employment?

Which of the following was a major cause of the Great Depression?

Which of the following aspects of the economy are directly controlled by the Federal Reserve (the Fed)?

Cyclical unemployment and recession often arise from changes in which component of the economy?

If an economy experiences a decrease in the money supply, what is most likely to happen to short-run unemployment?