Macroeconomic Models

question 49

Multiple Choice

Macroeconomic models:

• A) assume all wages and prices are sticky.
• B) assume all wages and prices are flexible.
• C) make different assumptions to explain different aspects of the macroeconomy.
• D) focus primarily on the optimizing behaviour of households and firms.

---

Definitions:

Variability

Variability is a statistical concept that describes the extent to which data points in a data set differ from each other and from the average or mean value of the set.

Measure

A tool or instrument used to quantitatively assess or determine the extent, dimensions, quantity, or capacity of something.

Manipulation

The act of controlling or influencing a person, situation, or system often in a skillful manner.

Bar Graph

A visual presentation that uses bars to depict frequencies of responses, percentages, or means in two or more groups.