Macroeconomics is most likely to be concerned with the:
A) amount of unemployment in a specific industry.
B) economic behavior of a particular household.
C) economic behavior of specific parts or units of the economy.
D) aggregates in the economy.
Ans: D) aggregates in the economy.
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The concept of aggregate supply is a
a. fixed number. b. schedule. c. predetermined amount of output. d. All of the above are correct.
Showing the government's budget deficit as a percentage of nominal GDP is a simple way to correct for the effects of both inflation and the ability of the economy to handle the deficit.
What will be an ideal response?
About one out of every _________ Hispanics is poor.
Fill in the blank(s) with the appropriate word(s).
The demand curve for monopolistic competitive firms is
A. slightly elastic because there are few substitutes for the product. B. slightly elastic because there are many substitutes for the product. C. very elastic because there are few substitutes for the product. D. very elastic because there are many substitutes for the product.