Which of the following terms identifies something that macroeconomists would study but that microeconomists would NOT?
A) incentives
B) resources
C) rationality
D) aggregates
Answer: D
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In the period 1960–95,
(a) the relations between capital and labor (owners and workers) continued to be as hostile and violent as they were in the 1930s and earlier. (b) the relations between capital and labor (owners and workers) continued to be cooperative and peaceful, as they had been throughout U.S. history. (c) an accord was struck which involved more cooperative relations between capital and labor and encouraged high rates of productivity in industry. (d) the federal government intervened with a strong hand to ensure that labor and capital worked together cooperatively.
The marginal product curve rises when the marginal cost curve rises
a. True b. False Indicate whether the statement is true or false
Which of the following provides the best explanation of why low-income countries generally remain poor?
a. Their political environment and policies often discourage productive activity and reduce the potential gains from specialization and exchange. b. They are oppressed by developed nations that benefit from the cheap goods available from countries with low wage rates. c. They are poorly endowed with natural resources, which are essential for long-term rapid growth. d. When the average income level is low, workers have little incentive to earn higher incomes.
Which of the following is not a direct determinant of net export spending?
A. Domestic income. B. Interest rates. C. Exchange rates. D. Foreign income.