Which of the following is most likely a topic of discussion in macroeconomics?
A. an increase in the price of a hamburger
B. a decrease in the production of DVD players by a consumer electronics company
C. an increase in the wage rate paid to automobile workers
D. a decrease in the unemployment rate
D. a decrease in the unemployment rate
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Trade between two nations:
A) results in the maximization of total production. B) reduces global production. C) leads to a maximization of production in one nation and minimization of production in the other. D) is inefficient compared to when both do not indulge in international trade.
To maximize its profit, a monopoly should choose a price where demand is:
a. elastic. b. inelastic. c. vertical. d. unitary elastic.
When network externalities are present, the market demand for the good in question becomes:
A. less elastic. B. more elastic. C. unit elastic. D. perfectly inelastic.
Economists make assumptions in order to...
What will be an ideal response?