Worksheet 1 - Introduction to Macroeconomics Econ 104a,c,...

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Introduction to Macroeconomics Econ 104a,c, d, e, f - Spring 2010 – due 2/5 Worksheet 1 – What is Macroeconomics? Unemployment, Inflation and Growth 1. What is macroeconomics? When did it become important in economics? Macroeconomics looks at the economy as a whole, it became significant to the public after the Great Depression. 2. How did the Great Depression Affect the way we think about the economy and the role of government? The Great Depression affected the way we think about economy and the role of the government because it showed how important it is to keep the economy stable, and giving some power to the government allows to prevent further great depressions. 3. What are the three goals of Macroeconomics? Define each Economic Growth The increased output of goods and services, as well as Full Employment Since the passage of Employment Act of 1946, the U.S. government’s goal is the attainment of high levels of employment Price Stability/Low Inflation 4. Name and define 5 types of unemployment. Include an example of each.
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This note was uploaded on 10/19/2011 for the course ECON 104 taught by Professor Dolenc during the Spring '08 term at UMass (Amherst).

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Worksheet 1 - Introduction to Macroeconomics Econ 104a,c,...

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