Macroeconomics is mostly focused on
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Macroeconomics is mostly focused on
The economy as a whole
The two topics of primary concern in macroeconomics are
Short run fluctuations and employment and long run economic growth
The business cycle depicts
Short run fluctuations in output and employment
The term recession describes what
Output and living standards decline
Which of the following is most closely related to recessions?
Negative real growth in output
Most accurate statement about advanced economies
Economies experience a positive growth trend over the long run but experience significant variability in the short run.
Real GDP measures
Value of final goods and services produced within the borders of a country, corrected for price changes.
If the price of all goods and services Rose but the quantity produced remained unchanged what would happen to the nominal in real GDP
Nominal GDP would rise but the real GDP would be unchanged
Real GDP is preferred to nominal GDP as a measure of economic performance because
Nominal GDP uses current prices and thus may over or understate true changes in output
Harry's pepperoni pizza parlor produce 10,000 large pepperoni pizzas last year the sold for $10 each. This year Harry's again produce 10,000 large pepperoni pizzas but sold them for $12 each. Based on this information we can conclude to Harry's production of large pizzas
Increase nominal GDP from last year, but real GDP was unaffected
Why are higher rates of unemployment of concern economist?
There is lost output that could have been produced if the unemployed had been working
Unemployment describes the condition where
A person cannot get a job but is willing to work and is actively seeking work
Higher rates of unemployment are linked with
Higher crime rates as the unemployed seek to replace lost income
Inflation is defined as
An increase in the overall level of prices
Why are economists concerned about inflation
Inflation lowers the standard of living for people whose income does not increase as fast as the price level
The three statistics that the main focus for those measuring macroeconomic health are
Real GDP, inflation, and unemployment
Modern economic growth refers to countries that have experienced an increase in
Macroeconomics is mostly focused on economics of economy, fluctuations in outputs and prices along with long term economic growth.
Explanation:
- The term macroeconomics is a major field of economics that deals with a large part of economics.
- Considering the performance, behavior, and structure of the economy as a whole.
- The interest rates, taxes, and government spending, etc.
- The economic growth and stability involving the regional, national, and global economies.
- It focuses on GDP, unemployment, investment, saving, and international trade.
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- brainly.in/question/6913834 answered by manikiranbachu22.