Which of the following is a macroeconomic subject?
a. umbrellas produced by a firm
b. wages earned by a firm producing umbrellas
c. cost of producing military aircraft
d. savings in the national economy
e. profit earned by a firm producing military aircraft
D
You might also like to view...
Big Bear Enterprises, which competes in a perfectly competitive market, is producing so that the point chosen along the production possibility frontier is socially preferred. Big Bear Enterprises has achieved which of the following?
a. Allocative efficiency b. Productive efficiency c. Economies of scale d. Long-run equilibrium
Which of the following is NOT an example of a barrier to entry?
A. Rare natural minerals B. Heavy government regulations C. Lower costs D. Scarce land
The demand for a luxury good whose purchase would exhaust a big portion of one's income is
A. relatively elastic. B. relatively inelastic. C. perfectly elastic. D. unit-elastic.
Which statement is false?
A. President Eisenhower presided over three recessions. B. At the close of the 20th century the unemployment rate was below 5 percent. C. The United States' longest economic expansion was for six years during the Reagan Administration. D. None of the choices are false.