Macro Unit 1 Questions and Answers 100% Pass

Macroeconomics would include the study of national infrastructures Which of the following statements describes macroeconomics? It looks at the overall ups and downs of the economy. Microeconomics involves decisions made by firms and households Studying macroeconomics helps us learn about the value and limitations of __________, which occurs across nations, typically involving foreign exchange transactions. global trade Macroeconomists look at __________ to study the overall health of the economy. economic indicators Which of the following topics can macroeconomics help a person understand? In the Circular Flow model, what do firms purchase? Labor from households In the Circular Flow model, governments produce some final goods and services In the Circular Flow diagram, households purchase final goods and services GDP per capita is often used to measure the standard of living GDP is best described as the value of economic activity that takes place in a country in a given year