1. News Story: Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of unemployment describes the workers' situation?
2. Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:
A reduction in the debt ceiling
Goods price inflation
Asset price inflation
Goods price deflation
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3. Macroeconomics is:
The study of aggregate economic relationships.
An analysis of economic reality that proceeds from the parts to the whole.
The study of pricing policies of firms and the purchasing decisions of households.
The study of individual choice and how that choice is influenced by economic forces.
4. Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?
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5. If banks hold excess reserves whereas before they did not, the money multiplier:
Will become smaller
Will become larger
Might increase or might decrease
Will be unaffected
6. Using the expenditure approach, gross domestic product equals:
The sum of consumption, investment, government purchases, and net exports
Gross national product minus net exports
The sum of consumption, investment, and government purchases
Gross national product
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7. How do investment in technology and investment in capital differ?
They have similar effects on output so they have no important differences from an economic point of view.
They have the same effects on...