Much of Macroeconomics Is Concerned with Advising Governments on Ways

question 16

Multiple Choice

Much of macroeconomics is concerned with advising governments on ways to ________ business cycles,since it is desirable to ________.

• A)amplify,create the greatest cyclical peaks possible
• B)amplify,create deep recessions to cool down the economy
• C)dampen,avoid both very low troughs and very high peaks
• D)dampen,keep the economy at its maximum productive capacity

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Definitions:

Ethical Relativism

the theory that moral principles are not universally applicable but instead are shaped by cultural, personal, or situational contexts.

Middle Eastern

Relating to the geographical region that encompasses countries in Western Asia and Egypt.

American Culture

Refers to the customs, arts, social institutions, and achievements of the United States.

Capitalistic System

An economic system where private individuals or businesses own capital goods and the production of goods and services is based on supply and demand in the market.