Which of the following is a macroeconomics topic?
a. Wages of textile workers in the Northeast.
b. The cost of producing 10,000 bookcases.
c. The economy's annual growth rate.
d. National demand for fish.
e. Effects of farm subsidies on food prices.
c
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In the above figure of a monopolistically competitive firm, the area of economic profit is
A) ADB. B) ABC. C) P2AD P4. D) P2FEP5.
The statistic most often used by economists to measure the value of economic activity is ________
A) GDP B) the CPI C) labor-force participation rate D) the nominal interest rate E) the real interest rate
If the short run elasticity of demand for bus service is 1.01, we would expect the long run elasticity of demand to be: a. relatively inelastic. b. greater than 1.01
c. equal to 1.01. d. less than 1.01.
A period when overall inflation rates are positive but falling is called:
A. disinflation. B. deflation. C. zero price level. D. inflation.