Microeconomics differs from macroeconomics in that microeconomics focuses on:
A. government policies designed improve the performance of the national economy.
B. the choices made by individuals and the implications of those choices.
C. the performance of the entire economy.
D. issues such as inflation, unemployment and economic growth.
Answer: B
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The principle economic cost of growth is
A. higher inflation rates. B. higher interest rates. C. investment in stocks and bonds. D. current consumption sacrificed for capital formation.
What is the name of the interest rate charged when the Federal Reserve loans money to banks?
a. the discount rate b. the reserve requirement rate c. the prime rate d. the federal fund rate
What is a financial market? What are some of the types of financial markets?
Which of the following helps to explain why the inflation fallacy is a fallacy?
a. Increases in the price level can be created by increases in money demand. b. Nominal incomes tend to rise at the same time that the price level is rising. c. As the price level rises, the value of a dollar falls. d. Inflation only changes nominal variables.