Macroeconomic models focus on the behavior of
a. individual households, business firms, and government agencies
b. individual nations in the foreign trade sector
c. the entire economy
d. large industrial sectors, such as manufacturing
e. individual business firms and government agencies
C
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During the expansion phase of the business cycle,
A) employment decreases. B) income decreases. C) unemployment increases. D) production increases.
Microsoft found that instead of producing a dvd player and a gaming system separately, it is cheaper to incorporate dvd playing capabilities in their new version of the gaming system. Microsoft is taking advantage of
a. Economies of Scale b. Learning curve c. Economies of Scope d. Decreasing marginal costs
Why does the supply curve of the perfectly competitive industry shift to the right whenever a new firm enters the industry?
What will be an ideal response?
If consumption increases in general the aggregate demand curve will:
A. shift straight down. B. shift to the right. C. remain unchanged but the economy will move down along the curve to a higher quantity. D. remain unchanged but the economy will move down along the curve to a lower quantity.