It is common practice to only look at one indicator

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It is common practice to only look at one indicator when analyzing the macroeconomy. Economic indicators are inherently macroeconomic. Economic indicators provide a view of the economy over an extended period of time.
Trends, patterns or situations that assist in forecasting the economy are considered lagging indicators. CONCEPT Understanding Indicators 12 Which of the following graphs represents a peak in the economy?
CONCEPT Business Cycles, Aggregate Demand, and Aggregate Supply 13 Which statement below regarding monetary and fiscal policy is FALSE? The situation where unemployment is high and inflation is high is stagflation. The inverse relationship between inflation and unemployment is known as the Phillips Curve. Expansionary policy causes AD to shift to the left. If AD increases too much, prices will increase and AD will return to equilibrium. CONCEPT Monetary and Fiscal Policy 14 Which description below corresponds to the United Nations Intergovernmental Panel on Climate Change? An organization devoted to taking regulatory action to reduce the negative effect of externalities produced by businesses A global organization comprised of 2,000 scientists and researchers that is focused on the impact of climate change A governing body that includes U.N. members who signed the Kyoto Protocol in 1997 A nonprofit organization that employs a panel of leading economists to conduct cost/benefit analysis on policies intended to address global problems CONCEPT
International Regulatory Environment 15 Which of the following is FALSE concerning using GDP to compare countries? 16
Which of the following describes the Producer Price Index?

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