Introduction to Macroeconomics – Flashcards
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Which best describes what occurs in the product market?
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the exchange of goods and services for money
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Macroeconomic equilibrium occurs when aggregate supply and aggregate demand meet. What does this indicate about society?
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Society's supply and demand have stagnated.
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In microeconomics, what occurs when equilibrium is reached?
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c
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This is a graph showing price and total output in the short and long run.
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a
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The circular flow model examines interactions between which sectors of the economy? Check all that apply.
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2,3,5
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Which body or group is most able to use money to influence the economy?
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government
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Which challenges faced by an economy are examined in macroeconomics? Check all that apply.
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2,3,4
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The aim of the study of macroeconomics is to examine
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the behavior
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Which best describes what injector factors bring to an economic system?
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$
