The problems of aggregate inflation and unemployment are:
A. major topics of macroeconomics.
B. not relevant to the U.S. economy.
C. major topics of microeconomics.
D. peculiar to command economies.
Answer: A
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The distribution of income
a. is about the same in most countries b. tends to be more equal in developing countries than in developed countries c. is more concentrated in the United States than in Canada or Japan d. is more even in developing countries than in the Russia e. is not related to a country's level of development
People are forced to make choices because of
a. unlimited wants and unlimited resources b. limited wants and unlimited resources c. unlimited wants and limited resources d. limited wants and limited resources e. limited resources are greater than unlimited resources
We would expect the relationship between the risk spread on Baa bonds and U.S. Treasury securities of similar maturities to:
A. vary directly with economic growth. B. be uncorrelated with economic growth. C. vary inversely with economic growth. D. show no variation over the business cycle.
We refer to the whole class of goods that firms will ________ in a completely unregulated market economy as public goods.
A. underproduce B. overproduce C. not produce at all D. Both A and C are correct.