As an example of the simplifications that make economic theorizing possible, the major economic "totals" are assumed to be constant in the study of
A) government budget deficits.
B) macroeconomics.
C) economic aggregates.
D) microeconomics.
E) unemployment and inflation.
D
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In a setting of repeated competition:
A. the cooperative outcome is the repetition in each period of the Nash equilibrium outcome that would arise were the firms to compete just once. B. the non-cooperative outcome is the repetition in each period of the Nash equilibrium outcome that would arise were the firms to compete just once. C. the non-cooperative outcome is the Nash equilibrium that arises only after firms compete many times. D. the cooperative outcome is the Nash equilibrium that arises after firms compete many times.
If there is unplanned inventory decumulation there is excess
A) demand for bonds. B) supply of bonds. C) demand for commodities. D) supply of commodities.
If the exchange rate of yen for dollars increases from 100 yen = $1 to 110 yen = $1, then:
a. Japanese-produced goods would become more expensive. b. the dollar has depreciated. c. the yen has appreciated. d. U.S.-produced goods would become more expensive. e. U.S. exports would increase.
The impact of fiscal policy is
A) magnified because of crowding out and weakened because of crowding in. B) magnified because of crowding in and weakened because of crowding out. C) magnified because of crowding out and crowding in. D) weakened because of crowding out and crowding in.