Welcome to your Economics grade12 Unit 1
1.
What does macroeconomics primarily study?
2.
How is macroeconomics different from microeconomics?
3.
Macroeconomics primarily deals with:
4.
What is the main objective of macroeconomic analysis?
5.
Which of the following is a key focus area of macroeconomics?
6.
The study of national income is a part of which focus area in macroeconomics?
7.
What is a major challenge in macroeconomics related to measuring economic well-being?
8.
One of the challenges in macroeconomics is:
9.
Economic growth is measured by changes in:
10.
What is a primary goal of economic growth?
11.
Inflation is defined as:
12.
What is a potential consequence of high inflation?
13.
The unemployment rate is calculated by dividing:
14.
What type of unemployment occurs when individuals are temporarily between jobs?
15.
The business cycle refers to:
16.
During which phase of the business cycle does economic activity reach its peak?
17.
A trade surplus occurs when:
18.
What does a negative balance of trade indicate?
