Which of the following is considered a microeconomic issue?
A. France's growth rate in the last year.
B. The unemployment rate in the US from 1980-2014.
C. Apple releases a new version of the iPhone.
D. All of these are examples of microeconomic issues.
Answer: C
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John Amaker owns orange groves and hires pickers for a two-week period as shown in Table 7-3.Table 7-3 Pickers Oranges Picked 1 1,000 2 2,000 3 3,000 4 3,900 5 4,700 6 5,400 7 6,000 8 6,200 9 6,000 In Table 7-3, negative returns set in with picker
A. 6. B. 7. C. 8. D. 9. E. There are no negative returns in this table.
Refer to Figure 9.8. If free trade in sugar is replaced by a $50 tariff in sugar, government revenue from the tariff will be
A) $50. B) $5000. C) $15,000. D) $17,500. E) $25,000.
Market risk is:
A. risk that is broadly shared by the entire market or economy. B. risk that is unique to a particular company or asset. C. likely to be predictable, and generally reflected in interest rates. D. the reason the economy suffers inflation from time to time.
A decrease in the price of a firm's output will shift the firm's demand curve for labor to the right, other things being equal
a. True b. False Indicate whether the statement is true or false