REVISION

MACROECONOMICS
DR.NHALA ABOELEZZ
1- Define macroeconomics. How is it different
from microeconomics?
ANSWER: Macroeconomics is the study of economy-wide
phenomena.
Microeconomics is the study of how individual consumers,
.or other small-scale actors, behave (in a market)

2-Define Gross Domestic Product (GDP)?

ANSWER: The market value of final goods and services
produced within the borders of a given country within a
given period of time.

state the difference between the final good -3

. and the intermediate good . By examples

A final good is an item that is bought by its final user, and

it contrasts with an intermediate good, which is a
component of a final good.
4- compare between The expenditure approach of
measuring GDP and The income approach of
measuring it .
The expenditure approach sums consumption
expenditure, investment, government expenditure on
goods and services, and net exports.
The income approach sums wages, interest, rent, and
profit .
5- compare between the nominal and the real
GDP ?
Real GDP is the value of final goods and
services produced in a given year when
valued at the prices of a reference base
year.
Nominal GDP is the value of final goods
and services produced in a given year
 when valued at the prices of that year.
Nominal GDP is just a more precise name
for GDP.
6- Why Is Domestic Product Gross?
Gross means before subtracting the
depreciation of capital. The opposite of gross
is net, which means after subtracting the
depreciation of capital.
7- Define the concept of Depreciation.
Depreciation is the decrease in the value of a firms
capital that results from wear and tear and
obsolescence.

8- Explain why Unemployment is a serious

personal, social, and
Economic problem?
Because it results in lost output and income and a loss of
human capital. (IN MORE DETAILS )

9- EXPALIN using a Graph how can we determine

the labour force ?
10- What do mean by the unemployment rate ?
How it is calculated ?
11- What do mean by the employment-to-
population ratio? How it is calculated ?
12- What do mean by the Labor force
participation rate? How it is calculated ?
13- What are the main types of
unemployment? Give an example for each
type ?
14- Define frictional unemployment ? Give
example?

15- Define structural unemployment ? Give

example ?

16- Define cyclical unemployment ? Give

example ?
17-Define
natural unemployment ? Give
example ?