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Macroeconomics

  • Game Code: 1554530
  •  English    25     Public
    Macroeconomics
  •   Study   Slideshow
  • What is macroeconomics?
    The study of the entire economy, not just individual markets
  •  15
  • When did the study of macroeconomics appear?
    During the Great Depression
  •  15
  • Why is macroeconomics unpredictable?
    Because it depends on people's choices and they are unpredictable!
  •  10
  • When was the economy of Greece very very bad?
    In 2015
  •  15
  • How many goals do policy makers have? Name them
    3 goals: 1) keep the economy going; 2) limit unemployment; 3) keep prices stable.
  •  25
  • What 3 measurements are analyzed to see if the country is achieving the goals of macroeconomics?
    GDP, unemployment rate and inflation rate.
  •  20
  • What is GDP?
    The value of all final goods and services produced in a country's border within a specific time, usually a year.
  •  20
  • What is GDP measured in?
    In US dollars; it's not measured in raw numbers.
  •  20
  • What is nominal GDP?
    GDP not adjusted for inflation
  •  10
  • What is real GDP?
    GDP adjusted for inflation
  •  10
  • Starting in which year did the Greek GDP start decreasing?
    Since 2008
  •  5
  • How is the unemployment rate measured?
    Unemployed people/people in the labour force * 100%
  •  20
  • How would you define people in the labour force?
    People of a certain age, not children or older people, who are working or searching for work
  •  15
  • Who are discouraged people?
    Unemployed people who were looking for a job but have given up?
  •  20
  • What kinds of people does the 'people in the labour force' category not include?
    Underemployed people
  •  15
  • How many types of unemployment are there? Name them
    3 types: frictional, structural, and cyclical unemployment.
  •  20
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