Microeconomics is best described as the study of
A) the choices made by individual households, firms, and governments.
B) marginal changes in the economy.
C) inflation, unemployment, gross national product, and the nation's economy as a whole.
D) how markets interact in the aggregate economy.
A
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When the Fed purchases federal government bonds in the open market
A) the demand for money expands. B) there is no change in the money supply. C) the money supply expands. D) the money supply contracts.
The widespread availability of e-mail has likely increased the price elasticity of demand for the services of the U.S. Postal Service
a. True b. False Indicate whether the statement is true or false
The table below shows the number of labor hours required to produce one umbrella and one bushel of corn in the United Kingdom and the rest of the world. If the United Kingdom and the rest of the world begin to trade with each other, the international price of corn will lie between ________ and Labor hours to make:In the United KingdomIn the Rest of the World1 umbrella3.002.001 bushel of corn1.000.25
A. three umbrellas per bushel of corn; eight umbrellas per bushel of corn. B. 1/8 of an umbrella per bushel of corn; 1/3 of an umbrella per bushel of corn. C. 1/8 of an umbrella per bushel of corn; eight umbrellas per bushel of corn. D. 1/3 of an umbrella per bushel of corn; three umbrellas per bushel of corn.
Which of the following assigns widely followed bond ratings?
A. The Wall Street Journal B. The Nasdaq C. Moody's Investor Service D. The Federal Reserve