Which is an illustration of a macroeconomic question?
a. Should the minimum wage be increased for low-income workers?
b. What is the least costly way to produce automobiles and trucks in the United States?
c. Are increasing wage demands by workers contributing to price inflation?
d. Will the introduction of a new computer chip change the demand for computers?
c. Are increasing wage demands by workers contributing to price inflation?
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In the long run the real interest rate is determined by ________, and in the short-run the Federal Reserve can control the real interest rate by setting the nominal interest rate if inflation adjusts ________.
A. saving and investment; quickly B. the Federal Reserve; slowly C. saving and investment; slowly D. the Federal Reserve; to equal the increase in the money supply
The share of income received by different groups is called ________
Fill in the blank(s) with correct word
In the United States, the long-run average growth rate of velocity in recent decades has been
A) about 2 percent per year. B) about 1 percent per year. C) virtually zero. D) about -1 percent per year. E) about -2 percent per year.
A firm's accounting profit does not include its:
a. explicit costs. b. sunk costs. c. fixed costs. d. opportunity costs. e. variable costs.