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Chap 02_Delong

Chap 02_Delong - CHAPTER2 2-1 Questions calculated...

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CHAPTER 2 Measuring the Macroeconomy 2-1
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Questions What key data do macroeconomists look at? How are key macroeconomic data estimated and calculated? How have the key macroeconomic variables behaved over time? What is the difference between “nominal” and “real” values? How are stock market values related to interest rates? 2-2
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Questions How are interest rates related to the price level and the inflation rate? How is unemployment related to total production? What is right ‐‐ and what is wrong ‐‐ with the key measure of economic activity, real GDP? 2-3
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