<u>ANSWER:</u>
The correct options are: B- "Full employment is a macroeconomic goal" and D- "Inflation is the rise in the prices of goods and services".
<u>EXPLANATION</u>:
- Macroeconomics studies issues like employment, inflation, poverty, unemployment etc. and so the goals of macroeconomics deal with all such issues.
- "Full employment" refers to a 'situation' wherein every individual who has the capability to work and earn is provided with a job. Inflation is the "rise of prices" of services and goods .
- Inflation makes it impossible for most people to buy even the necessary goods and services. Inflation also affects the demand of "goods and services".
In this question, there are no options provided to choose from. So i have to answer this question based on my knowledge. I hope the answer is up to your satisfaction. The only school of economics that could be construed as advocating big governments are the Keynesians. This theory was developed during the 1930s by John Maynard Keynes.
1. Shock
2. Pain
3. Anger
4. Acceptance
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I hope my answer can help you.
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Answer
Hi,
- Gross Domestic Product (GDP) represents the health of an economy by measuring the total income of the economy and total expenditure of the economy on goods and services. When the GDP is strong, workers in the country are hired more and the companies can afford to pay the needed wages resulting to more spending by customers. More firms will invest in various business operations when the GDP is strong. Higher the investments will mean a growing economy in future.
- GPD represents an overall strength/weakness of an economy in the following ways;
• A strong GDP represents strength of an economy because companies will employ more workers and pay better salaries and wages. This will mean that people will have more to spend for goods and services enabling the government to get taxes.
• A weak GDP represents a weakness in the economy in that firms will lose the confidence to invest more because the economy will be proceeding to recession. Employees might face retrenchment and wages/salaries may be lower than expected.
Best Wishes!
