In part, microeconomics is concerned with
A) how a business firm decides upon the amount it produces and the price it sets.
B) changes in the economy's total output of goods and services over long periods of time.
C) factors that explain changes in the unemployment rate over time.
D) the Federal Reserve's policy decisions.
A
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Cisco is considering opening a financial institution that accepts savings deposits from only its employees and makes loans to only its employees. The best description of this financial institution is that it is a
A) credit union. B) savings and loan association. C) federal government chartered credit bank. D) commercial bank. E) savings bank.
How do markets provide for an efficient allocation of scarce resources?
What will be an ideal response?
Which two time periods did the U.S. begin to experience a sharp increase in Current Account deficits?
A) 1981, mid-1990s B) 1971, mid-1990s C) 1961, mid-1990s D) 1971, mid-1980s E) 1985, mid-1990s
Refer to Figure 9.1. If the market is in equilibrium, total consumer surplus is
A) $30. B) $70. C) $400. D) $800. E) $1200.