A macroeconomist is interested in
a. explaining how changes in sellers' behavior affect prices of a particular good.
b. explaining price changes in a particular market.
c. explaining why the unemployment rate is higher.
d. All of the above are correct.
c
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What are the reasons for the development and growth of the Eurodollar market?
What will be an ideal response?
According to the graph shown, if a firm is producing at Q1:
This graph represents the cost and revenue curves of a firm in a perfectly competitive market.
A. profits are being maximized.
B. average total costs exceed the market price.
C. the firm should not increase production because it will earn loss.
D. marginal revenue is greater than average total cost.
If a pair-wise majority vote was held and the voters' preferences are shown in the table, which of the following is true?
A. The preferences of each member is transitive.
B. The collective preferences of the group are not transitive.
C. The outcome of the vote will change, depending on the order of the vote.
D. All of these are true.
Legislation to protect red-cockaded woodpeckers by making their trees off limits to loggers created incentives that resulted in the premature harvesting of trees the woodpeckers like to nest in. This is an example of which of the following?
a. Association or correlation is not causation. b. the fallacy of composition. c. the use of ceteris paribus conditions in economic analysis. d. Good intentions do not always lead to desirable outcomes; the problem of secondary effects.