Which of the following questions have a macroeconomic focus?
A) How does a consumer choose which goods to consume given his/her income?
B) How does demand for a good change when there is an increase in a consumer's income?
C) How does a monopolist decide how much to produce?
D) What is the unemployment rate in your country?
D
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Which of the following is an example of an economic investment?
A. Purchasing shares of a mutual fund B. Putting money in a bank CD C. Buying a corporate bond or stock D. Building a new bank office
In the Malthusian model, population growth is endogenous because
A) the birth rate is endogenous. B) the death rate is endogenous. C) the birth and death rates are endogenous. D) neither is endogenous.
The Organization of the Petroleum Exporting Countries (OPEC) is a cartel that comprises more than a dozen oil-exporting nations, primarily located in the Middle East and Africa. OPEC strives to boost oil prices worldwide by limiting output from its members. What factors might determine how the cartel divides up its joint profits amongst its members?
What will be an ideal response?
If input prices increase, all else equal,
A. supply will increase. B. quantity supplied will decrease. C. supply will decrease. D. demand will decrease.