Which of the following would likely be considered as a topic of microeconomics?
A. the price of apples
B. Gross Domestic Product
C. the effects of fiscal policy on the economy
D. a nation's unemployment rate
Answer: A
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Today, one U.S. dollar exchanges for 1.10 euros. The next morning the same dollar exchanges for 1.07 euros. We can conclude that the dollar has ________ and the euro has ________
A) depreciated; appreciated B) appreciated; appreciated C) appreciated; depreciated D) depreciated; neither appreciated nor depreciated E) depreciated; depreciated
Refer to Figure 23-3. Suppose that government spending increases, shifting up the aggregate expenditure line. GDP increases from GDP1 to GDP2, and this amount is $200 billion. If the MPC is 0.8, then what is the distance between N and L or by how much did government spending change?
A) $16 billion B) $40 billion C) $200 billion D) $1,000 billion
A program through which new ideas, methods, and advice are offered to farmers to increase farm yields is known as
(a) agricultural extension. (b) agricultural mechanization. (c) an agrarian system. (d) land reform.
Your text identifies all of the following as reasons why unsustainable debt may occur EXCEPT
A) when countries are dependent on one or two key export commodities, and there is a sudden drop in the price of those commodities. B) when natural disasters occur. C) when civil conflicts are resolved and a peace dividend occurs. D) when there are corrupt politicians and practices. E) when government officials try to buy votes with unsustainable spending.