Mankiw macroeconomics practice questions

Answer the following essay questions in three to four blue book pages or less.

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Mankiw macroeconomics practice questions

Visit TestBankBell. The macroeconomic problem that affects individuals most directly and severely is: A inflation. B unemployment. C low savings. D low investment. The unemployment rate in the United States since has: A never been close to zero. B gravitated toward a steady-state rate of zero. C remained constant from year to year. D equaled the natural rate of unemployment in every year. The natural rate of unemployment is: A the average rate of unemployment around which the economy fluctuates. B about 10 percent of the labor force. C a rate that never changes. D the transition of individuals between employment and unemployment.

Therefore, the policymaker would always want to choose the Golden Rule level, because consumption is increased for all periods of time. Because economic agents know that purchasing-power parity holds, they expect this relationship to hold.

The economic statistic used to measure the level of prices is: A GDP. B CPI. C GNP. D real GDP. The statistic used by economists to measure the value of economic output is: A the CPI. B GDP.

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Mankiw macroeconomics practice questions

Are you looking for practice material for an upcoming assignment or test in macroeconomics? Check out these macroeconomics practice quiz questions and answers and test your knowledge for the same. Macroeconomics is the field of economics that deals with the performances, structure, behavior, and decision-making of economies as a whole.

Sihirli annem

To calculate the percentage change in output, divide Y2 by Y1: 0. Explain one difference between the European and U. The CPI is determined by computing: A an average of prices of all goods and services. Explain at least three reasons why you cannot assume that citizens in each country enjoy approximately the same level of economic well-being. B the percentage of the labor force that is unionized. Gold, when used as money, is an example of com- modity money. An increase in saving shifts the S — I schedule to the right, increasing the supply of dollars available to be invested abroad, as in Figure 5—3. Full-time students are not counted in the labor force. Generous unemployment programs for those without jobs. Second, if searchers think that the new legislation will lead them to spend a longer period of time on a par- ticular job, then they might weigh more carefully whether or not to take that job. C , B weighted according to amount of the item produced in GDP. Also, we can observe the wage per unit of labor but not the wage per efficiency unit. C there is no unemployment. D first decrease and then increase GDP.

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Government spending increases by the price of the computer. Sam will pay real interest of 4 percent per annum. Jennifer Temple is working as a second-grade schoolteacher. C members of the labor force over age 55 have the highest unemployment rates. National saving is the amount of output that is not purchased for current con- sumption by households or the government. Due to changes like this there will always be some frictional unemployment in the economy. D reduce the firm's wage bill. The closer the MPC is to 0 and therefore the larger is the amount saved rather than spent for a one-dollar change in disposable income , the greater is the impact on saving. D the amount of coordination among employers in bargaining with unions. All of these activities are part of GDP. This means that in the steady state, productivity growth is independent of the rate of investment. In the national income accounts, net exports equal: A exported goods minus imported goods.