Macroeconomics, 9e (Abel/Bernanke/Croushore) Chapter 1 Introduction to Macroeconomics 1.1 What Macroeconomics Is About 1) The two major reasons for the tremendous growth in output in the U.S. economy over the last 125 years are A) population growth and low inflation. B) population growth and increased productivity. C) low unemployment and low inflation. D) low inflation and low trade deficits. Answer: B Diff: 1 Topic: Section: 1.1 Question Status: Previous Edition 2) The main reason that the United States has such a high standard of living is A) low unemployment. B) high average labor productivity. C) low inflation. D) high government budget deficits. Answer: B Diff: 1 Topic: Section: 1.1 Question Status: Previous Edition 3) Which of the following factors are most important for determining the economic growth of a country? A) The country's level of resources B) The independence of the country's central bank C) The country's rates of saving and investment D) The level of sophistication