Questions from Macroeconomics

Q: Why is it not as terrible to become unemployed nowadays as it

Why is it not as terrible to become unemployed nowadays as it was during the Great Depression?

Q: “Unemployment is no longer a social problem because unemployed workers receive

“Unemployment is no longer a social problem because unemployed workers receive unemployment benefits and other benefits that make up for most of their lost wages.” Comment.

Q: Why is it so difficult to define full employment? What unemployment

Why is it so difficult to define full employment? What unemployment rate should the government be shooting for today?

Q: Fill in the blanks in the following table of GDP statistics:

Fill in the blanks in the following table of GDP statistics:

Q: Think about a way you would construct a model of how your

Think about a way you would construct a model of how your college is governed. Which officers and administrators would you include and exclude from your model if the objective were one of the followin...

Q: Relate the process of abstraction to the way you take notes in

Relate the process of abstraction to the way you take notes in a lecture. Why do you not try to transcribe every word uttered by the lecturer? Why don’t you write down just the title of the lecture an...

Q: Explain why a government policy maker cannot afford to ignore economic theory

Explain why a government policy maker cannot afford to ignore economic theory.

Q: What is meant by a “factor of production”? Have you

What is meant by a “factor of production”? Have you ever sold any on a market?

Q: Discuss the pros and cons of having a higher or lower multiplier

Discuss the pros and cons of having a higher or lower multiplier.

Q: Explain the difference between final goods and intermediate goods. Why is

Explain the difference between final goods and intermediate goods. Why is it sometimes difficult to apply this distinction in practice? In this regard, why is the concept of value added useful?