Lecture 1 Intro to Macro

Question 1

macroeconomics

Answer 1

study of the proper management of the economy

Question 2

Keynesian economics

Answer 2

a theory of how productive capacity and spending can get out of sync, use of fiscal and monetary policy

Question 3

fiscal policy

Answer 3

presidential and congressional spending and taxing used to manipulate economy

Question 4

monetary policy

Answer 4

changing quantity of money in circulation, central bank