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2 cards from this section. Quick, good the night before a test.
Define macroeconomics in one sentence.
Think about what macroeconomics focuses on.
What major event helped establish macroeconomics as a separate field?
Consider historical events that led to new economic thinking.
What is macroeconomics primarily concerned with?
Think about the focus of macroeconomics.
True or False: Keynes believed that all labor willing to work would always find employment.
Consider what events led to his theories.
Evaluate the effectiveness of macroeconomic policies during the Great Depression in addressing unemployment.
Think about the long-term effects of government policies.
Analyze how studying aggregate indicators like GDP can mask issues within the economy.
Consider the limitations of GDP as a sole indicator.
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