Macroeconomics Sample Exam Paper

Midterm Examination
Macroeconomics

Name:______________________ Course:__________________
Year/Section:________________ Score:___________________

1. _______________behavior of learning that specializes on the study of economic activities on the aggregates level. 2. _______________two factors that are the main 3. _______________influences that determine the performance of an economy. 4. _______________revolutionized economic thought in clearly outlining how the government can intervene in the recurring business cycle. 5. _______________refers to the total goods and services that the household the firm, the government and the rest of the world intend to buy in the economy. 6. _______________policy of the state that influence the change in demand and supply in the economy. 7. _______________refer to the total production intention in the economy or total national output that the productive sectors of the economy willingly produce and sell during a given period. 8. _______________level of output of an economy found in the intersection point between demand aggregate and supply aggregate. 9. _______________total market value of all goods and services produced in the economy in one year. 10. _______________number that results in dividing the current price level by a given base year price level. 11. _______________method used by the free world in calculating national output. 12. _______________periodic ups and downs of the economy. 13. _______________general increase in the price of goods and services. 14. _______________generally characterized by a aggregate supply resulting to a general build-up of unwanted inventory resulting to widespread unemployment. 15. _______________lowest point of business cycle resulting in the lowest level of business cycle. 16. _______________when real GDP is growing rapidly and unemployment has fallen. 17. _______________aggregate business condition slow, real GDP growth falls and way even turn negative. 18. _______________most ideal stage in the economic cycle. 19. _______________when aggregate activity completely recovers from the previous slowdown. 20. _______________level of employment that result from efficient use of labor force after making allowance consistent with information cost. 21. _______________an increase in the general level of price expected by most decision makers on the economy. 22. _______________are fiscal policies that automatically promotes budget deficit during recession and surpluses during boom. 23. _______________condition in the economy where a significant number by labor force is out-of-work. 24. _______________people are temporary out-of-work but are sure to have work very shortly. 25. _______________believes tax changes affect productivity and so can increase equilibrium output in the long run.