Macroeconomics Milestone I.docx - Which of the following...

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Which of the following statements describes macroeconomics?
Macroeconomics would include the study of __________.
Microeconomics involves decisions made by __________.
Macroeconomists look at __________ to study the overall health of the economy.
Studying macroeconomics helps us learn about the value and limitations of __________, which occurs across nations, typically involving foreign exchange transactions.
Which of the following topics can macroeconomics help a person understand?
In the Circular Flow diagram, households __________.
In the Circular Flow model, governments __________
In the Circular Flow model, what do firms purchase?
Which statement below is NOT true about GDP?
Which statement below IS true about GDP?
There are different ways to calculate GDP. It is one of the most common measures of the health of the macroeconomy. GDP per capita is often used to measure the ______.
GDP is best described as __________.
In 2009, the yearly tuition at a state university is $20,000. In 2017, the yearly tuition at the same state university is $31,000. Using the price of tuition for reference, the inflation rate of the U.S. dollar increased by a factor of __________ in eight years.
In 2010, the average cost of a house in France is 126,000 euros. In 2018, the average cost is 154,000 euros. Using the price of the average house for reference, the inflation rate of the Euro increased by a factor of __________ in eight years.
In January 2008, a bag of rice cost five million Zimbabwean dollars. Several months later, the same bag of rice cost 250 million Zimbabwean dollars. Using the price of rice for reference, the inflation rate of the Zimbabwean dollar increased by a factor of __________ in just a few months.
The business cycle period in which the economy shows growth is the __________.

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