Macroeconomics:
A. studies the behavior of individual consumers, firms and markets.
B. studies the behavior of the economy as a whole.
C. involves the interaction between different countries in specific markets.
D. studies how computer automation has changed economics.
Answer: B
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The U.S. record is superior to that of Europe in ________
A) growth in real productivity. B) real wage growth C) growth in employment D) All of the above
If a female supervisor is discriminated against by one of her workers who refuses to cooperate, she may earn lower wages
a. True b. False Indicate whether the statement is true or false
In the circular-flow diagram, which of the following items flows from households to firms through the markets for the factors of production?
a. goods and services b. land, labor, and capital c. dollars spent on goods and services d. wages, rent, and profit
A mother gives her teenage daughter two choices: spend 20 minutes cleaning her room today or spend 25 minutes cleaning her room tomorrow. The same mother gives her same daughter two additional choices: clean out the garage for 20 minutes next Tuesday or 25 minutes next Wednesday. According to economic theory,
a. if the daughter chooses to procrastinate, she is behaving irrationally. b. the daughter will likely choose to clean out her room tomorrow but clean out the garage next Tuesday. c. the daughter will likely choose to clean out her room tomorrow and clean out the garage next Wednesday. d. if the daughter chooses to procrastinate, she is exhibiting satisficing behavior.