Primarily, macroeconomists use microeconomic principles to study
A) business cycles and trends in the stock market.
B) long-run economic growth and antitrust policies.
C) trends in the stock market and long-term economic growth.
D) long-run economic growth and business cycles.
D
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Economists have determined that there are four factors that seem to strongly affect a nation's rate of economic development. Which is NOT one of these four factors?
A) supporting current industries and the jobs they provide instead of adopting new technology that brings disruptive social changes B) developing an educated population C) establishing a system of property rights D) limiting the extent to which the government imposes trade barriers
Since classical economists and monetarists believe that the economy operates at full employment along the vertical segment of aggregate supply,:
A. any increase in the money supply can only end up raising the price level. B. any increase in the money supply can only end up lowering the price level. C. any decrease in the money supply can only end up raising the price level. D. changes in the money supply will not affect the price level.
Which of the following is characteristic of a perfectly competitive market?
A. Price below marginal revenue. B. Differentiated products. C. A large number of firms. D. Significant barriers to entry.
Data on Northeastern manufacturing firms show that firm size (number of workers per firm) increased for _________________ between 1820 and 1860
a. mechanized industries b. non-mechanized industries c. mechanized and non-mechanized industries d. only the textile industry