Principles of Macroeconomics

An assignment focused on key principles of macroeconomics, including national income, inflation, and fiscal policy.

Mia Martinez

Contributor

4.4

6 months ago

Preview (2 of 3 Pages)

100%

Purchase to unlock

Principles of Macroeconomics - Page 1 preview image

Loading page ...

Principles of MacroeconomicsEconomics 2002.01Principles of MacroeconomicsHomeworkTwo(Chapters5 and 6)11PointsThefollowing assignment contains 11multiple choice problems.Select the best answer.1.The three macroeconomic goalsare ___.a.full employment, balanced budgets, and stable pricesb.balanced budgets, stable prices, and stable growthc.balanced budgets, full employment, and stable growthd.stable growth, full employment, and stable pricesAnswer:d. stable growth, full employment, and stable prices2.The lowest point of a business cycle is the ___.a.the expansionb.the troughc.the contractiond.the peakAnswer:b. the trough3.Use the following information to determine the value of the price index.Base YearPriceQuantityCurrent YearPriceFood$5400$4Clothing$30150$50Shelter$20025$200a.price index =14,100b.price index = .82c.price index = 1.23d.price index =1.08Answer: price index = .824.Supposefive yearsago, the price index had a value of 135 and it now has a value of 147.Based on this information, the rate of inflationover the five yearsis ___.a.8.1%b.12.3%c.11.25%d.8.9%Answer: a. 8.1%

Preview Mode

This document has 3 pages. Sign in to access the full document!

Report

Study Now!

XY-Copilot AI

Unlimited Access

Secure Payment

Instant Access

24/7 Support

Document Chat

Document Details

University

University of the West Indies

Course

Econ 2002

Subject

Economics

Related Documents

View all

Solved Assignments

Analysis of McDonald

This analysis explores McDonald's market structure, demand elasticity, income sensitivity, and competition. It highlights how pricing, consumer behavior, and economic shifts impact the company in the global fast food industry.

Class Notes

The Effect of Exercise on Clothespin Squeezing

This experiment tests if exercise improves clothespin squeezing speed. Results show 7 of 10 squeezed more after exercise. Future tests could explore gender, athletes, and stronger clips.

Solved Assignments

Analyzing Coca-Cola's Demand, Supply and Market St

Coca-Cola's demand rises with higher consumer income, showing it as a normal good. This analysis explores key demand and supply factors and the market structure affecting the company's global operations.

Solved Assignments