A good is produced by a firm in 2009, added to the firm's inventory in 2010, and sold to a household in 2010 . As a result, on net,
a. 2009 GDP increased and 2010 GDP decreased.
b. 2009 GDP decreased and 2010 GDP increased.
c. 2009 GDP did not change and 2010 GDP increased.
d. 2009 GDP increased and 2010 GDP did not change.
d
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Microeconomics only looks at the behavior of one consumer or one firm in a market, while macroeconomics looks at the behavior of an entire industry or group of consumers
a. True b. False Indicate whether the statement is true or false
The most important single factor in determining the exchange rate in the short run is
a. inflation differentials. b. interest rate differentials. c. monetary growth differentials. d. price differentials.
In the swimming pool market, supply and producer surplus both just fell. What most likely happened to cause this?
a. Price levels increased. b. Price levels decreased. c. A subsidy was given. d. A tax was removed.
In recent decades, countries with high economic growth have experienced ________ inequality, and those with low rates of growth have experienced ________ inequality.
A. increasing; increasing B. increasing; decreasing C. decreasing; decreasing D. decreasing; increasing