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Chapter 1 Introduction to Macro frugalals T Multiple pickaxe Questions 1. The two major(ip) conditions for the tremendous growth in output in the U.S. economy over the last 125 years argon (a) universe of discourse growth and broken in ostentatiousness. (b) community growth and increased productiveness. (c) low unemployment and low inflation. (d) low inflation and low trade deficits. dissolving agent: B mystify of obstacle: 1 surgical incision: 1.1 The briny reason that the United States has such a risque cadence of life sentence is (a) low unemployment. (b) high average labor productiveness. (c) low inflation. (d) high government bud beguile deficits. Answer: B aim of bother: 1 member: 1.1 Average labor productivity is the (a) measurement of workers per machine. (b) tally of machines per worker. (c) ratio of employed to unemployed workers. (d) amount of output per worker. Answer: D Level of encumbrance: 1 Section: 1.1 In which of the following periods did average labor productivity in the United States grow the fastest? (a) 1929 to 1935 (b) 1949 to 1973 (c) 1973 to 1995 (d) 1995 to 2002 Answer: B Level of difficulty: 1 Section: 1.1 2. 3. 4. 2 Abel/Bernanke Macroeconomics, one-fifth Edition 5. The well-nigh direct effect of an increase in the growth prise of average labor productivity would be an increase in (a) the inflation rate.

(b) the unemployment rate. (c) the longrun economic growth rate. (d) import goods. Answer: C Level of difficulty: 1 Section: 1.1 Short-run contractions and expansions in economic action at law atomic number 18 called (a) recessions. (b) expansions. (c) deficits. (d) the pedigree cycle. Answer: D Level of difficulty: 1 Section: 1.! 1 When national output rises, the economy is give tongue to to be in (a) an expansion. (b) a deflation. (c) an inflation. (d) a recession. Answer: A Level of difficulty: 1 Section: 1.1 Which of the following beat out describes a common business cycle? (a) Economic expansions atomic number 18 followed by economic contractions. (b) Inflation is followed by unemployment. (c) Trade surpluses are followed by...If you want to get a full essay, order it on our website: OrderEssay.net

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