Macroeconomists

Macroeconomists

Question 1
Macroeconomists focus their attention on three key economic statistics. Which are they?

Question 2
Differentiate between nominal GDP and real GDP

Question 3
Differentiate between savings and investments.

Question 4
What is uncertainty in Economics terms?

Question 5
What is “expectation” in economics terms? Provide at least one example to corroborate your answer

Question 6
What is economic shock?

Question 7
What is sticky price?

Question 8
Why demand shocks a problem to consider in macroeconomics?

Question 9
Explain how short-run fluctuations in the national output are the results of demand shocks

Question 10
What is the importance of flexible prices over sticky prices?

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