One example of a microeconomic question is, "Should unemployment benefits be increased?"
Indicate whether the statement is true or false
FALSE
You might also like to view...
The basic truth that underlies the study of economics is the fact that we all face
A. risk. B. scarcity. C. death. D. taxes.
If an established domestic industry is in jeopardy of being displaced by lower-priced imports, there could be a rationale for
a. permanent import restrictions to prevent the decline of the domestic industry b. temporary import restrictions to allow the orderly adjustment of the domestic industry c. permanent import restrictions based on the infant industry argument d. temporary import restrictions based on the infant industry argument e. temporary import restrictions that will be replaced by permanent tax breaks for the domestic industry
For a normal good, quantity demanded
a. increases as income rises, so the income elasticity of demand is positive b. increases as income rises, so the income elasticity of demand is negative c. falls as income rises, so the income elasticity of demand is positive d. falls as income rises, so the income elasticity of demand is negative e. remains unchanged as income rises, so the income elasticity of demand is zero
Economies of scope are present when a bank also sells insurance and provides brokerage services for stocks and bonds.
Answer the following statement true (T) or false (F)