Which of the following is a microeconomic question?
A. Should companies pay for employees' health insurance?
B. Why do some countries have higher economic growth rates than other countries?
C. Should Congress and the president take action to reduce the unemployment rate?
D. Should the Fed attempt to influence the interest rate to control potential inflation?
Answer: A
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Which of the following will reduce consumer expenditures?
A) a decrease in expected future income B) a decrease in interest rates C) a decrease in the price level D) a general increase in housing prices
During most of the years of the Great Depression, the actual federal budget was in ________, and the cyclically adjusted budget was in ________
A) surplus; surplus B) deficit; deficit C) surplus; deficit D) deficit; surplus
As new goods and services become available the basket of goods used to calculate the CPI:
A. immediately changes to reflect them. B. doesn't change until 75 percent of urban consumers use them. C. never changes to reflect them. D. periodically is updated in order to reflect the changes.
The saving schedule shows the relationship of saving of households to the level of:
a. Consumption b. The average propensity to save c. Investment d. Disposable income