If a Macroeconomist Studying the Causes of Unemployment Suspects That

question 38

Multiple Choice

If a macroeconomist studying the causes of unemployment suspects that changes in technology might play a role,then this macroeconomist is at which step in the process of developing an economic model?

• A)Identify the exogenous variables.
• B)Identify the endogenous variables.
• C)Compare the model with the data.
• D)Conduct prediction and policy analysis.
• E)Develop a model.

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Definitions:

Barter Economy

An economic system in which goods or services are traded directly for other goods or services without using a medium of exchange, such as money.

Basic Goods And Services

Essential products and services required to meet the fundamental needs of the population.

S & Ls

Short for Savings and Loan associations, which are financial institutions that specialize in accepting savings deposits and making mortgage loans.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation and have a financial interest in its performance.