Macroeconomic models particularly focus on the following three economic data series
A) real GDP, the unemployment rate, and inflation
B) endogenous variables, exogenous variables, and GDP per person
C) inflation, recessions, and business cycles
D) real GDP, the employment rate, and interest rates
E) real GDP, the unemployment rate, and depressions
A
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What has been the average growth rate of U.S. real GDP per person over the past 100 years? In which periods was growth most rapid and in which periods was it slowest?
What will be an ideal response?
The classical model differs from the Keynesian model in that
a. monetary policy does not impact output in the Keynesian model. b. the classical model focuses on the long-run and the Keynesian model focuses on the short-run. c. fiscal policy is more powerful in the classical model than in the Keynesian model. d. the classical model believes monetary policy is a powerful impact on output and fiscal policy is not. e. None of the above
Debit cards: a. allow individuals to prepay a certain amount of money to the card and then use it to make purchases
b. allow individuals to use it to make purchases and then pay a certain amount of money to the card. c. perform the same functions as money as long as the cardholder's bank account has sufficient funds to allow the transactions. d. allow easy loans to the individuals who hold the card.
.How will an unanticipated decrease in aggregate demand influence equilibrium output in the goods and services market?
What will be an ideal response?