Which of the following would be a part of macroeconomics?
A) the change in automobile sales due to a change in the price of automobiles.
B) a tax reduction impact on the profits of a business.
C) inflation.
D) the unemployment of workers displaced by technological change in the typesetting industry.
Ans: C) inflation.
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In the basic closed-economy ISLM model, as the interest sensitivity of investment spending increases, fiscal policy has ________ effect on output and monetary policy has ________ effect on output
A) less; less B) more; more C) more; less D) less; more
Refer to the above figure. Economic profits for this firm are
A) negative and equal to P2bcP3. B) negative and equal to P1bcP2. C) positive and equal to P2bcP3. D) positive and equal to P1abP2.
Government intervention to alter market structure or prevent abuse of market power is the basic purpose of
A. Antitrust policy. B. Social demand. C. Government taxes. D. Merit goods.
Which of the following represents how real GDP is calculated?
A. nominal GDP multiplied by the GDP deflator B. nominal GDP divided by the GDP deflator C. nominal GDP divided by the population D. nominal GDP divided by the PPI, the producer price index