How does the study of microeconomics differ from that of macroeconomics? Give one example each of an issue studied in microeconomics and in macroeconomics
What will be an ideal response?
Microeconomics is the study of how household and businesses make choices, how they interact in markets, and how the government attempts to influence their choices while macroeconomics is the study of the economy as a whole, including topics like unemployment, inflation and economic growth. (Students will give many different examples.)
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________ motivates charitable giving because individuals value helping others
A) Pure altruism B) Rationalism C) Impure altruism D) Consumerism
The employment-to-population ratio is
A) 67 percent. B) 64 percent. C) 50 percent. D) 62 percent.
A shift in a curve represents a change in:
A. the variable on the horizontal axis. B. the variable on the vertical axis. C. a third variable that is not on either axis. D. any variable that is relevant to the relationship being graphed.
The aggregate demand curve in the figure above shifts rightward if
A) potential GDP increases. B) the money wage rate falls. C) taxes are raised. D) government expenditure increases. E) the Federal Reserve raises the interest rate.