Unemployment and inflation are:
A) not relevant in the U.S. economy today.
B) major topics in macroeconomics.
C) unique only to capitalistic economies.
D) very important in the study of microeconomics.
Ans: B) major topics in macroeconomics.
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Which statement below is the best summary of the economic point of view?
A) Society is created and designed by the government. B) Society is controlled by major business conglomerates. C) Society is an unintended outcome of individuals pursuing their own projects. D) All of the above. E) None of the above.
As the probability of detecting shirking increases, the size of the bond necessary to deter shirking
A) also increases. B) stays the same. C) decreases. D) increases at an exponential rate.
In the postwar period, the rate of immigration to the US has
a. continuously increased. b. had periods of increase and decrease. c. tended to fall. d. remained relatively stable.
Use the figure below to answer the following question.
Refer to the three demand curves. A "decrease in quantity demanded" caused by a change in price would be illustrated by a change from
A. point 1 to point 6. B. point 2 to point 5. C. point 5 to point 1. D. point 6 to point 4.