Macroeconomic always deals with ______ economy.
a. aggregate
b. international
c. personal
d. government
a. aggregate
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Suppose India and France have the same PPF, shown in the figure above. Based on their current production points, which is France's most likely future PPF?
A) PPF2 B) PPF1 C) PPF0 D) either PPF0 or PPF1 E) None of the above because economic growth will not happen in India.
That some talented people may not enter an occupation because they have heard that people with their personal characteristics do not get hired in that occupation is known as
A) economic discrimination. B) a negative feedback loop. C) a compensating difference. D) worker discrimination.
Use the above figure. The profit-maximizing output and price is
A) 600 and $16, respectively. B) 600 and $10, respectively. C) 600 and $8, respectively. D) 800 and $10, respectively.
During hyperinflations, people desire to hold less money and will go to the bank more frequently. This waste of resources due to the high rate of inflation is known as _____
Fill in the blank(s) with correct word