Macroeconomics is the study of
a. the behavior of large firms in the marketplace
b. the economic behavior of individual decision makers
c. the behavior of the economy as a whole
d. how to use the fewest natural resources to produce goods and services
e. government's role as a stabilizing influence on the economy
C
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Seasonal credit provided by the Fed is not as common as it used to be because:
A. there are fewer banks in seasonal areas. B. seasonal credit has been replaced by secondary credit. C. other sources for long-term loans have developed for banks in seasonal areas. D. seasonal credit is being replaced by primary credit.
Which of the following was one the key factors sending the economy into the Great Recession?
a. declining home prices and rising foreclosure rates b. declining interest rates and declining lending c. declining labor participation rates and rising retirement rate d. none of the above were reasons for the Great Recession
Within the framework of the aggregate expenditures model, what will happen if an economy is operating at a real GDP greater than full-employment real GDP?
A. An inflationary gap exists. B. Real GDP will fall. C. The inventories of firms will rise. D. Firms will cut back on their current rate of output.
As of 2014, the ratio of exports to GDP for Netherlands was approximately equal to
A) 20%. B) 40%. C) 60%. D) 83%.