The Two Topics of Primary Concern in Macroeconomics Are

question 94

Multiple Choice

The two topics of primary concern in macroeconomics are:

• A) short-run fluctuations in output and employment and long-run economic growth.
• B) unemployment and wage rates in labor markets.
• C) monopoly power of corporations and small business profitability.
• D) oil prices and housing markets.

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Definitions:

Pure Exchange Economy

An economic model where households or individuals purely exchange goods and services without any production.

Competitive Equilibrium

A state in a market-based economy where supply exactly matches demand, and market prices stabilize.

Fair

Pertaining to actions, policies, or procedures that are just, equitable, and impartial.

Borda Count

A voting system used to rank options or candidates in which voters order their preferences, and options are assigned points based on their order in each vote.