One of the areas Macroeconomics deals with is
a. electricians' wage rates
b. monopolistic pricing
c. price of automobiles
d. general price level
Answer : d. general price level
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Janice earns an income of $2,000 a week and goes out to lunch 4 times a week. If her income increased to $2,100 she would go out to lunch 5 times a week. Compute Janice's income elasticity of demand
A) 0.22 B) 4.56 C) 2.28 D) -0.22
If consumption = $5,000; investment = $800, government purchases = $700, exports = $30, imports = $60, and transfer payments = $340, then _____
a. GDP = $7,400 b. GDP = $7,740 c. GDP = $3,140 d. GDP = $6,470 e. GDP = $6,840
An example of human capital would be:
A. an office chair. B. a training session on Excel. C. Excel software. D. All of these are examples of human capital.
Suppose that your bank pays 5 percent interest on your savings account balance. Is this the nominal or real interest rate? What would be your real interest rate?