Macroeconomics is best described as a study of ____ and microeconomics as a study of ____.
A. financial markets, specific markets
B. nations, individuals
C. the stars, solar system
D. abstract, concrete
Answer: B
You might also like to view...
Refer to Table 26-2. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if the Federal Reserve does not use monetary policy
If the Fed wants to keep real GDP at its potential level in 2017, it should A) increase income taxes. B) buy Treasury securities. C) increase the required reserve ratio. D) sell Treasury securities.
Economic variables that generally turn down before a recession begins and turn back up before the recovery starts are called:
A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.
A monopsonistic employer faces a
A) perfectly elastic labor supply curve. B) perfectly inelastic labor supply curve. C) MFC curve that is greater than the wage rate at each quantity of labor. D) MFC curve that is less than the wage rate at each quantity of labor.
Refer to the information provided in Figure 15.2 below to answer the question(s) that follow. 
Figure 15.2 Refer to Figure 15.2. At We Do Hair, a monopolistically competitive firm, the profit-maximizing price for a perm is
A. $32. B. $28. C. $24. D. $20.