Which of the following is associated with macroeconomics?
B)A case study of pricing and production in the textbook industry
C) an examination of the incomes of the Uni of Toronto Business School graduates
D)a study of the trend of pecan prices since world war II
A) An empirical investigation of the general price level and unemployment rates in the 2000's
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The estimated price-cost margin of 11.9 percent in the market for broiler chickens in 1992 suggested that there was a high degree of competition in that industry
Indicate whether the statement is true or false
The quantity of labor an individual supplies to any market
a. always increases as the market wage rate rises b. is contingent upon the wage rates offered in other labor markets c. always decreases as the market wage rate rises d. could never be zero over the realistic range of wage rates e. depends only on the opportunity cost of the individual's time in other labor markets
If average variable cost exceeds average fixed cost at a particular level of output: a. Profits must be positive
b. That fact is meaningless for deciding the quantity of output to produce. c. It is more likely that the output level is low relative to the designed capacity of the production facility than that the output level is low relative to the designed capacity of the production facility. d. Both b and c. are likely true.
Suppose real GDP in a country called Gambria is increasing by 5% annually and the population of Gambria is increasing by 2% annually. Then, :
A. Gambria's population must be declining. B. Gambria will have to export more than it imports. C. the general level of prices in Gambria must be increasing. D. Gambria's per capita real GDP will be increasing.