Macroeconomics deals with the concept of:
a. individual households.
b. market structures
c. market concentration.
d. economic growth.
d
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In the above figure, suppose the quantity produced is 40. Then
A) the marginal social cost of the 40th unit is $1. B) the willingness to pay for the 40th unit is $2, the equilibrium price. C) production is not efficient because MSB > MSC. D) production is not efficient because MSC>MSB.
The European System of Central Banks signals the stance of its monetary policy by setting a target for the
A) federal funds rate. B) overnight cash rate. C) lombard rate. D) reserve rate.
A country should always specialize in the production of any product for which it holds an absolute advantage
Indicate whether the statement is true or false
During an expansion, which of the following occur because of automatic stabilizers?
I. Income tax revenues tend to rise. II. Government transfer payments tend to rise. III. The government's budget deficit tends to fall or its budget surplus tends to rise. IV. They tend to amplify the rise in real GDP. A) I and III only B) I, II, and III only C) I, III, and IV only D) I, II, III, and IV