What type of economics would most typically deal with aggregates?
A. macroeconomics
B. microeconomics
C. financial economics
D. normative economics
Answer: A
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According to the article, ________ can be expected to ________ this year
A) exports; increase B) consumption; decrease C) imports; decrease D) net interest income; decrease
The equation Y = A is known as the ________
A) Cobb-Douglas production function B) labor supply curve C) marginal product of labor D) capital-to-employment function
"Empirical studies of economic growth are flawed because many of the truly important underlying determinants, such as culture and institutions, are very hard to measure."
Discuss this statement paying particular attention to simple cross-section data and panel data models. Use equations whenever possible to underscore your argument. What will be an ideal response?
The government's benefit from a tax can be measured by
a. consumer surplus. b. producer surplus. c. tax revenue. d. All of the above are correct.