Introduction to Macroeconomics
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Economic interactions involving which of the following would most likely be studied in macroeconomics?
International Monetary Fund policy
Which best describes the purpose served by economic models within an economic system?
Models identify patterns.
Which best describes what injector factors bring to an economic system?
Money
Which best describes why taxes and savings are considered leakage factors?
They take money out of the economic system.
In microeconomics, what occurs when equilibrium is reached?
Prices are set.
The circular flow model examines interactions between which sectors of the economy? Check all that apply.
government business households
Which best describes what occurs in the product market?
the exchange of goods and services for money
