The field of macroeconomics studies ______ and microeconomics studies ______.
A. economic aggregates; individual markets
B. individual markets; economic aggregates
C. international variables; variables within a single economy
D. variables within a single economy; international variables
A. economic aggregates; individual markets
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If people increase their rate of time preference
A) more credit is made available in the banking system. B) less credit is made available in the banking system. C) the demand for credit shifts left. D) the supply of credit shifts right.
Suppose Molly has an income of $35,000 annually and has inherited a savings account of $20,000. Wyatt has a job that pays $35,000 annually, but has debts totaling $6,000. Which of the following is TRUE?
A) We can expect Wyatt and Molly to save the same proportion of their incomes this year. B) We can expect Molly to save more than Wyatt this year. C) We can expect Wyatt to save more than Molly this year. D) We can expect Wyatt and Molly to have equal amounts of consumption this year.
In the market for books, initially there are no taxes on books. Books are normal goods. The government introduces a tax of $4 a book and, at the same time, people's income fall by $4,000 a year
Following these two changes, the equilibrium quantity of books A) decreases. B) increases. C) remains unchanged. D) either increases or decreases. We cannot say which.
Moral hazard is a problem
A) peculiar to direct finance. B) peculiar to mutual funds. C) arising before a transaction is consummated. D) arising after a transaction is consummated.