The study of the aggregate economic variables is
A) macroeconomics.
B) microeconomics.
C) positive economics.
D) normative economics.
A
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Property rights that protect inventions are called
A) trademarks. B) copyrights. C) patents. D) exclusive franchises.
Which of the following would generally cause firms to expand output in the short run?
a. a proportional increase in the prices of goods and services and the costs of producing them b. higher profit margins as the result of an unexpected increase in the prices of goods and services c. an unexpected reduction in aggregate demand d. an increase in wages and the prices of other resources
As the interest rate rises, it is possible that net capital outflow could move from a positive to a negative value
a. True b. False Indicate whether the statement is true or false
According to the Cost-Benefit Principle, you should spend an additional hour studying for an exam if, and only if,:
A. the benefits of studying for an additional hour are really high. B. you have time to study for an additional hour. C. the benefits of studying for an additional hour are higher for you than for anyone else in your class. D. the benefits of studying for an additional hour exceed the costs of studying for an additional hour.