Much of macroeconomics attempts to explain
a. changes in the price of oil and gasoline.
b. long-run growth and short-run fluctuations in real GDP.
c. changes in the growth rate of state government spending.
d. changes in the prices and quantities of individual goods and services.
b
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The benefit received from the continuance of an environmental good is called
a. user value c. existence value b. stewardship d. vicarious consumption
The relationship between money and spending is
A) very reliable. B) very unreliable. C) not important. D) None of the above.
When risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual, it is called:
A. diversification. B. risk analysis. C. risk aversion. D. risk pooling.
Let demand be given by P = 10 - Q; let supply be given by P = Q. What is the equilibrium price?
A. 2 B. 5 C. 10 D. 0