Which of the following topics is most appropriately studied in a microeconomics course?
A. How the presidential candidates' tax plans might affect economic growth
B. Why unemployment is so low and inflation has not accelerated
C. The decision by a nurse to change professions
D. When the next recession will arrive
Answer: C
You might also like to view...
When something is indexed:
A. its value is automatically adjusted in proportion to the cost of living. B. it is expressed as nominal value multiplied by price index. C. its real value is converted into nominal terms for comparison. D. its relative rank in consumption items is compensated for relative to its cost.
Assume that net exports are -$340, private investment is $1500, tax revenues are $800, government purchases are $2000 . and GDP - using the expenditure approach - is $9,000 . In this case, consumption expenditures must be
a. $1,840 b. $12,960 c. $5,840 d. $4,360 e. $5,160
Which of the following would be categorized as "land"?
A) timber
B) human capital
C) buildings
D) entrepreneurship
Which of the following statements is TRUE?
A) The presence of positive economic profit in a perfectly competitive market is consistent with the characteristics of a long-run competitive equilibrium. B) When firms in a perfectly competitive market incur economic losses, some will exit in the long run, thereby shifting the industry supply curve rightward. C) If a profit-maximizing firm in a perfectly competitive market is making an economic profit, then it must be producing at a level of output where price is greater than average total cost. D) If a profit-maximizing firm in a perfectly competitive market is incurring an economic loss, then it must be producing at a level of output where price is greater than average total cost.