The adding up of individual economic variables to obtain economy wide totals is called:
A. average labor productivity.
B. monetary policy.
C. normative analysis.
D. aggregation.
Answer: D
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The textbook cautions against speaking of "the people" as wanting a particular good
A) because it is not clear in what sense groups as distinct from individuals can ever have wants. B) because people rarely know what they themselves really want. C) because the wants of the people are relevant only in a democracy. D) because assertions about "the people" confuse economics with politics. E) unless the majority has clearly voted for it.
Why do wild salmon populations face the threat of extinction while goldfish populations are in no such danger?
Suppose that a bank has $250 in vault cash, $750 in deposits at the Federal Reserve, $9,000 of loans, and deposits of $10,000. How much does this bank have in reserves?
a) $250 b) $750 c) $1,000 d) $9,000
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C