Macroeconomic Equilibrium Requires

question 54

Multiple Choice

Macroeconomic equilibrium requires

• A)equilibrium in the goods market.
• B)equilibrium in the money market.
• C)equilibrium in both the goods and money markets.
• D)equilibrium in neither the goods nor the money market.

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Definitions:

Economic Growth

An increase in the capacity of an economy to produce goods and services, compared over a period of time.

Total Output

The total quantity of goods or services produced by a firm or economy in a given period.

Economy

A system of production, distribution, and consumption of goods and services among individuals and businesses in a certain area or country.

Increasing Rate

A situation or condition where there is a rise in the percentage or level of a particular economic variable or indicator over a designated period.