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Ch apter17 Macroec ono mic and in dustry An alysis 1. A top dow n an alysis of a firm starts with . D. the global economy 2. An example of a highly cyclical in dustry is . A the automobile industry 3. Dema nd-side econo mics is concerned with . A. gover nment spe nding and tax levels B. mon etary policy C. fiscal policy E. A, B, and C 4. The most widely used mon etary tool is . C. ope n market operati ons 5. The real, or inflation-adjusted, exchange rate, is C. the purchas ing power ratio. 6. The normal range of price-earnings ratios for the SP 500 Index is D. between 12 and 25 7. Mon etary po