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Fundamentals of Economics
, Second Edition
William Boyes, Arizona State University
Michael Melvin, Arizona State University
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Chapter Review
Chapter 16:
Macroeconomic Policy, Business Cycles, and Growth
- Is there a tradeoff between inflation and the unemployment rate?
- How does the tradeoff between inflation and the unemployment rate vary from the short to the long run?
- What is the relationship between unexpected inflation and the unemployment rate?
- How are macroeconomic expectations formed?
- Are business cycles related to political elections?
- How do real shocks to the economy affect business cycles?
- How is inflationary monetary policy related to government fiscal policy?
- How are economic growth rates determined?
- What is productivity?
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