Many Macroeconomic Variables

question 33

Multiple Choice

Many macroeconomic variables

• A)​fluctuate together and by different amounts.
• B)​fluctuate together by the same amounts.
• C)​never fluctuate together.
• D)​fluctuate together about half of the time and by the same amount.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of innovations.

Production Possibility Frontier

A curve demonstrating the maximum potential output levels of two goods or services an economy can achieve when all resources are efficiently utilized.

Economic

Relating to the principles and practices of economics or the economy; the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

Entrepreneur

An individual who starts and runs a new business, taking on financial risks in the hope of profit.