For a Macroeconomist, the Case for Aggregation Is Based on Two

question 134

Multiple Choice

For a macroeconomist, the case for aggregation is based on two principles-(1) the composition of demand and supply may not matter for some purposes and (2)

• A)during fluctuations markets normally move together.
• B)individual markets allocate resources efficiently.
• C)inflation, unemployment, and growth never go together.
• D)individual markets distribute income efficiently.

Grasp the impact of economic growth, technological development, and efficiency on an economy’s production possibilities.

Distinguish between the economic roles of entrepreneurs and their contribution to economic activities.

Realize the effects of employment levels on economic production and how it relates to the production possibilities frontier.

Acknowledge the theoretical versus practical attainability of productive efficiency in an economy.

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Definitions:

United States

A country located primarily in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Differential Associations Theory

A theory in criminology suggesting that individuals learn deviant behavior from those close to them who provide models of and opportunities for deviance.

Pick-Pocketing

The act of stealthily stealing wallets or other valuables from the pockets or bags of others.

Wealthy

Having a large amount of money, resources, or assets; often associated with affluence and a high standard of living.