What type of economics would most typically deal with aggregates?
A) macroeconomics
B) microeconomics
C) normative economics
D) financial economics
Answer: A
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In a rent-controlled building, a landlord would most likely negotiate with a tenant who has ______.
a. recently moved into an apartment b. a low income c. lived in the apartment for 15 years d. a large family
Because the monopolistically competitive firm faces a ________ demand curve for its product, it ________ the price of its output
A) downward-sloping; cannot influence B) horizontal; can influence C) horizontal; cannot influence D) downward-sloping; can influence
Which of the following statements is correct for the case of a downward-sloping demand curve (beyond the first unit of output)?
A) P = AR = MR B) P = AR > MR C) P > AR > MR D) P = AR < MR
From 1929 to 2013, the unemployment rate in the U.S. ________
A) has continued to grow but has always remained well above zero B) has fluctuated around zero C) has gone up and down but has always remained well above zero D) has decreased in most recessions E) has grown by a factor of four