Microeconomics
a. addresses scarcity from a global perspective
b. examines how individuals, households, and firms make economic decisions
c. is purely theoretical and has little value in explaining real-world phenomena
d. focuses on what is happening in the economy as a whole
e. answers the fundamental economic questions of how, when, where, and why
B
You might also like to view...
Refer to the figure above. What is the price at which the monopolist should sell its output?
A) $3 B) $4 C) $6 D) $9
Differences in stages of development among countries are reflected in a number of ways besides per capita income
a. True b. False
If real GDP falls from one period to another and the price level stays the same, we can conclude that
A. Nominal GDP also decreased. B. Inflation increased. C. Nominal GDP increased. D. NDP also decreased.
The industry that is the most recent target of deregulation is the
A. Long-distance telephone service. B. Trucking industry. C. Airline industry. D. Electric utility industry.