Macroeconomics is concerned with studying the
A. prices of specific companies' stocks.
B. wants of individual consumers.
C. behavior of individual decision makers.
D. performance of the economy as a whole.
Answer: D
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Which of the following is true of households?
a. It consists of the employed members of the family. b. It can comprise of either related members or unrelated individuals. c. It refers to only the owners of rented apartments. d. It comprises of a family of at least four members. e. It generally describes a family that has two earning members.
For a given year, productivity in a particular country is most closely matched with that country's
a. level of real GDP over that year. b. level of real GDP divided by hours worked over that year. c. growth rate of real GDP divided by hours worked over that year. d. growth rate of real GDP per person over that year.
A fiscal expansion (e.g. a tax cut) will result in an increase in income, an increase in money demand, and an increase in the equilibrium interest rate in financial markets. Explain what happens to the position of the LM curve as policy makers pursue expansionary fiscal policy
What will be an ideal response?
Refer to the information provided in Table 6.3 below to answer the question(s) that follow. Table 6.3Dozens of Oysters per DayTotal UtilityMarginal Utility160?2104?3134?4152?5?8Number ofBeers per DayTotal UtilityMarginal Utility140?270?394?4114?5?14Refer to Table 6.3. The marginal utility of the second dozen oysters per day is
A. 20. B. 30. C. 44. D. 104.