Macroeconomics is concerned primarily with
A) large firms or multinational corporations.
B) production and prices in particular markets.
C) aggregate economic variables.
D) normative issues.
Answer: C
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If some nonprice level determinant causes total spending to decrease, then the effect on aggregate demand will be a: a. movement upward along the curve
b. movement downward along the curve. c. shift to the left. d. shift to the right.
The percentage of demand deposits that banks and other financial intermediaries are required to keep in cash reserves is known as
a. the fractional reserve requirement b. the excess reserve requirement c. the legal reserve requirement d. the interest rate e. M1 money
In her calculation of the cost of going to college, an economist would include the amount of forgone earnings over the years spent at college
a. True b. False Indicate whether the statement is true or false
Countries that engage in trade will tend to specialize in goods in which they have a(n) _______ and will _______ those goods.
A) comparative advantage; import B) absolute advantage; export C) comparative advantage; export D) economic profit; import