worksheet1 - Worksheet 1 What is Macroeconomics?...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Worksheet 1 – What is Macroeconomics? Unemployment, Inflation and Growth Introduction to Macroeconomics Econ 104a, c. d - Spring 2012 Please upload your assignment into the Moodle assignment box for worksheet one. 1. What is macroeconomics? When did it become important in economics? Macroeconomics examines and analyzes the economy as a whole, including the issues affecting it. It is the operation and health of an entire economy. Macroeconomics became important in economics during World War II. 2. How did the Great Depression Affect the way we think about the economy and the role of government? Today, how are we rethinking government’s role? What do you think? The Great Depression made us aware that the economy can be fragile and that in order for it to work, it must be stabe. Massive government spending does not do anything to help end a recession. The government should have a more substantial role when dealing with the economy. 3. What are the three traditional goals of Macroeconomics? Define each Economic growth - the increased output of goods and services over time. Full employment - the condition in which all the people who are willing to work are employed. Price stability/low inflation
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

worksheet1 - Worksheet 1 What is Macroeconomics?...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online