Macroeconomics is:
A. an analysis of economic reality that proceeds from the parts to the whole.
B. the study of the pricing policies of firms and the purchasing decisions of households.
C. the study of aggregate economic relationships.
D. the study of individual choice and how that choice is influenced by economic forces.
Answer: C
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Over the past four decades
A) the growth rate of real GDP per person in the United States has been increasing. B) U.S. real GDP per person has fallen below that of the other rich industrial countries. C) U.S. real GDP per person has increased. D) Both answers A and C are correct.
If Sanjaya can shuck more oysters in one hour than Tatiana, then Sanjaya has a comparative advantage in shucking oysters
Indicate whether the statement is true or false
American citizens planning a vacation abroad that would require foreign currency would welcome:
A. Devaluation of the dollar. B. Appreciation of the dollar. C. Depreciation of the dollar. D. Appreciation of the foreign currency.
The majority of people with private health insurance get it
A. in groups. B. individually. C. along with one other person. D. at the grocery store.