Which of the following is a microeconomic question?
a. How will a nation reduce the rate of inflation?
b. How will economic growth affect unemployment?
c. How will a consumer maximize his utility?
d. What are the factors that determine the standard of living in a country?
c
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Which of the following will result in the money market when the price level in an economy rises, while the supply of money remains unchanged? a. The demand for money will decrease
b. The supply of money will increase. c. The rate of interest will decrease. d. The total investment spending in the economy will increase. e. The rate of interest will increase.
The long-run aggregate supply of an economy at the potential level of real GDP is graphically represented by:
a. a horizontal line. b. an upward-sloping curve. c. a downward-sloping curve. d. a vertical line. e. a backward bending curve.
Which of the following is not a solution to the problem of negative externalities due to pollution?
a. create private property rights b. levy pollution taxes c. create obligatory controls d. subsidize the production of the goods e. establish strict limits on the amount of pollution allowed
Suppose a tax of $10 per unit is imposed on this market. What will be the new equilibrium quantity in this market?
A. less than 70 units B. greater than 100 units C. 70 units D. between 70 units and 100 units