When Janet Yellen, Chair of the Federal Reserve, addresses Congress regarding the United States role in the world economy, she is discussing
A) a macroeconomic topic.
B) a microeconomic topic.
C) scarcity.
D) incentives.
A
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Mixed bundling is
a. Where customers pay for each item separately b. Where customers buy all item in a store at one price c. Where customers have a choice of buying each item separately or all items at one price d. Where customers are charged one fixed fee and a cost per unit for every unit bought
The divergence between money costs and opportunity costs will be greatest in which of the following situations?
a. A university purchases 100 computers. b. A university employs people from town in the commissary (people prefer this job to working in the paper factory). c. A university employs otherwise unemployed teenagers to paint crosswalks and curbs. d. A university replaces the roof of the fine arts building.
What is an aggregate? How is it used in macroeconomics? Give two examples of specific aggregates that are used in the study of macroeconomics.
What will be an ideal response?
Suppose American winemakers convince the federal government to issue a directive to serve only domestically produced wine at government functions. This would be an example of:
A. moral hazard. B. the principal-agent problem. C. logrolling. D. rent-seeking behavior.