Macroeconomics
A. deals with both individual decisions and the sum of those individual decisions.
B. studies the behavior of individual consumers, firms and markets.
C. studies the behavior of the economy as a whole.
D. involves the interaction between different countries in specific markets.
Answer: C
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Define a partnership
What will be an ideal response?
Marginal profit equals the difference between marginal revenue and marginal cost.
Answer the following statement true (T) or false (F)
A production goal may be set too high by upper management because
a. they are unsure about the actual costs of production b. they under-estimate the difficulty of meeting a goal c. division managers over-state the difficulty of meeting the goal d. all of the above
Suppose the federal government is considering alternatives to increase the level of real GDP in order to reduce unemployment. It can only do one of the following. Which will have the smallest impact on the federal budget?
a. decreasing transfer payments b. increasing government spending c. increasing transfer payments d. decreasing government spending