Which question is an illustration of a microeconomic question?
A. Is the purchasing power of the dollar higher or lower today than it was in 2008?
B. Does government spending influence interest rates in the economy?
C. Is the volume of wine produced in 1 year dependent on the price of wine?
D. Does a government deficit reduce national economic growth?
Answer: C
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Marginal revenue product is measured by
a. MR × price of the good b. MR × MC c. TR / MPP d. MPP × price of the good e. TC / MPP
Mary is a homemaker while husband Jack works at the warehouse. The minimum salary Mary would take for a market-related job is $15,000 . She is offered a job at the office next to the warehouse for $25,000 . which she takes. Mary receives
a. $10,000 in differential rent b. $25,000 in wage-related rent c. $15,000 in wage-related rent d. $15,000 in differential rent e. $10,000 in wage-related rent
People who buy newly issued stock in a corporation such as Crate and Barrel provide
a. debt finance and so become part owners of Crate and Barrel. b. debt finance and so become creditors of Crate and Barrel. c. equity finance and so become part owners of Crate and Barrel. d. equity finance and so become creditors of Crate and Barrel.
What does it mean when the dollar appreciates? What does it mean when the dollar depreciates?
What will be an ideal response?