Macroeconomic

Matching:

1. Microeconomic: a detailed treatment in individual decrisions about particular commodities.

2. Microeconomic: the overall picture of the economy.

3. Laboureconomic: a study of human resource being employed by firms.

4. Urban economic: a study of city related issues such as housing, transport etc.

5. Question of economic: what, how and for whom?

6. General equilibrium theory: a subdiscipline of micro-economics which deals with deals with comparison of relative prices of different goods and services in different markets.

7. Economic growth: the percentage increases per annum of the purchasing power of an economy.

8. Consumer goods: goods bought and sold in the market place for household uses.

9. Unemployment: a measure of the number of people registered as being unable to find a job.

10. Inflation: the percentage increases per annum in the average price of goods and services.

11. GNP: the quantity of goods and services an economy as a whole can afford to purchase.

12. Government intervention: a variety of policy mensures aimed at regualating the performance of the economy.

Multiple choices:

1. Amajor idea of this chapter is: the distinction between micro-and marcoeconomics.

2. Another major idea of this chapter is: the enterrelationship between inflation and unemloyment.

3. The classiffication of economic analysis into different branches depends on: the way or methodology being used by the economists.

4. Microeconomic analysis focures on: individual decisions made by seller and buyers in the market.

5. Inflation means: the difference in the average price of the current year compared to the previous year.

6. The difference between microeconomics and marcoeconomics lies in the fact that: the one places emphasis on economic details while the other on the interactions among different economic sectors.

7. Unemloyment is the only concern of: labour economics.