Which of the following would not be studied in macroeconomics?
A. The causes of the Great Depression.
B. How a sharp increase in gasoline prices is likely to affect SUV sales.
C. The impact of government spending on the economy.
D. The growth rate of the U.S. economy.
Answer: B
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Why does the absence of well-defined property rights serve as a stumbling block for the application of the Coase theorem?
What will be an ideal response?
Which of the following best explains the effect of specialization on production as shown in Exhibit 5?
a. Specialization provides more goods overall to be divided between Techland and Grainsville.
b. By specializing in computers, the people of Techland no longer have grain to consume.
c. Grainsville is an agrarian society and as such does not have a need for computers.
d. Computers are more expensive than grain, so the people of Techland benefit most.
The downward sloping aggregate demand curve can be explained in part through the:
A. positive relationship between the price level and net exports. B. negative relationship between the price level and investment spending. C. positive relationship between the price level and consumption. D. All of these are true.
Prior to 1921, federal agencies first submitted their budgetary requests to _____
a. the President b. the Speaker of the House c. the Congressional Budget Office d. the Treasury Department