What is macroeconomics?

    Standard 10. - The overall levels of output, employment and prices i nthe economy flucuate in the short run as a result of the spending and production decisions of households, businesses, governments and others.

Benchmark - 9.2.5.10.2 - Use a short-run aggregate demand and aggregate supply model to describe changes in output, employment, and the price level.      

        

      

 

                     Go to this PowerPoint assignment at : 

http://docs.docstoc.com/pdf/6918511/26673d74-94d0-4689-98fb-ec0884061a95.pdf

 

Then answer these questions regarding the first 35 slides on macroeconomics.

 

Answer these in the submission down below!

1.  What caused macroeconomics to become a field of study?

2.  John Maynard Keyes felt that government could do what?

3.  List the three major concerns of Macroeconomics.

4.  What is the difference between a recession and a depression.

5.  What does GDP stand for?

6.  In the formula, GDP = C+I+G(EX-IM), what are the letters C,I, and G representing?

7.  What does a decrease in the aggregate demand lead to?