Exercise

1. What are the levels of inflation?
   Answer:
   • Light Inflation (Creeping Inflation)
   • Medium inflation (Galloping Inflation)
   • High Inflation (Hyper Inflation)
2. Who is the father of Macroeconomics?
   Answer:
   John Meynerd Keynes
3. What are the types of unemployed by length of working time?
   Answer:
   • Unemployment (disguised unemployment)
   • Unemployment is underemployed (under unemployment).
   • Open unemployment.
4. Explain about fiscal policy and monetary policy?
   Answer:
   • Monetary policy is the policy of directing the macro economy to a better (desirable) condition by varying the money supply.
   • Fiscal policy is the policy of directing the macro economy to a better (desirable) condition by altering Government revenues and expenditures
5. Mention the 3 market models
   Answer:
   • Labor market
   • Markets of Goods and Services
   • Money Market (Financial)