Which of the following is NOT a characteristic or focus of microeconomics?
A) individual consumers.
B) analysis of aggregate economic variables
C) firm behavior
D) individual markets
Answer: B
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A federal government deficit is said to exist in the event that ________
A) federal outlays are less than federal revenues B) federal outlays are equal to federal revenues C) federal outlays are greater than federal revenues D) any of the above conditions exists
Excess supply of a product exerts ___________pressure on prices
a. Zero b. No c. Upward d. Downward
The following is NOT an example of a potential monitoring solution to moral hazard
a. blocking social network sites on company computers b. closed circuit TVs throughout a warehouse c. requiring a kitchen remodeling contractor to be 'bonded' d. listening in on call center conversations
Which term refers to industry conditions, such as number of sellers and the type of products that are sold?
a. Market structure b. Perfect competition c. Economic structure d. Financial market