Macroeconomics focuses on:
A. the individual units that make up the whole of the economy.
B. total output and the general level of prices in the economy.
C. how a business determines how much output to produce.
D. studies of how individual markets and industries are organized.
Answer: B
You might also like to view...
The view that population growth occurs when real GDP per person exceeds the amount necessary to sustain life is part of the ________
A) classical growth theory B) modern theory of population growth C) neoclassical growth theory D) new growth theory
Economic activity around the world is mainly organized by
A. market transactions. B. informal arrangements. C. family connections. D. Internet connections.
Which of these tools in an example of monetary policy?
a. reducing income taxes b. changing reserve requirements c. increase government spending d. borrowing money through deficit spending
Which of these changes is observed in an economy when a recessionary gap is closed in the long run?
What will be an ideal response?