Microeconomics is concerned with:
a. some specific market in the economic system.
b. the entire economic system.
c. reducing national unemployment and inflation rates.
d. what causes changes in the overall level of economic activity.
a
You might also like to view...
Which of the following statements is NOT true?
A) Unemployment in the US economy represents an excess demand for labor. B) A surplus may be reduced by shifting the demand curve rightward. C) A surplus may be reduced by shifting both the supply and demand curves. D) A shortage may be reduced by shifting the supply rightward.
Imposing a restrictive quota on imported plasma TVs will:
a. increase the price of the plasma TVs and decrease the quantity consumed. b. increase both the price of the plasma TVs and the quantity consumed. c. leave the price of the plasma TVs unchanged but decrease the quantity consumed. d. leave the price and the quantity consumed of plasma TVs unchanged, because domestic producers will expand production to make up for the reduction in imports
One of the key factors in the economic success of South Korea was
a. an increase in years of schooling. b. a reduction in the amount of imports. c. the creation of new technology. d. all of the above.
Analysis of the short-run Phillips curve suggests that policymakers who want to reduce unemployment in the short run should ______ aggregate demand at a cost of generating ______ inflation.
A. increase; higher B. increase; lower C. decrease; higher D. decrease; lower