Macroeconomics would be concerned with
A) implications of changes in unemployment and inflation.
B) the effects on individual consumers of changes in the price of gasoline for a business.
C) the effects of a tax on beer.
D) the effects of wage increases on steel manufacturers.
Answer: A) implications of changes in unemployment and inflation.
You might also like to view...
Refer to Table 16.1. Consider the data in the table above (in billions of dollars) for an economy. Gross domestic product (in billions of dollars) for this economy equals
A) $2,700. B) $2,525. C) $2,350. D) $2,100.
Describe the decision for a perfectly competitive employer in determining the profit maximizing quantity of labor to employ
A short-run production function was estimated asQ = ?0.002L3 + 0.16L2At 20 units of labor, what is average product?
A. 6.0 B. 1.9 C. 2.4 D. 4.0 E. 6.3
If an economy produces 5,000 units of output with a price level of $1 and with a velocity of money of 4, we know that the money supply must be:
A. $5,000. B. $4,000. C. $2,500. D. $1,250.