Microeconomics approaches the study of economics from the viewpoint of:

A. inflation, unemployment, and economic growth.
B. the federal government.
C. individual economic units, such as consumers, firms, industries, and units of government.
D. the economy as a whole.


Answer: C

Economics

You might also like to view...

If a nation wants to get the most out of its resources, each productive assignment should be carried out by those persons who

What will be an ideal response?

Economics

When MC is rising but still below AVC, then

A. AVC is declining. B. AVC is constant. C. AVC is rising. D. There is not enough information to determine what AVC is doing.

Economics

The meaning of interdependence in a monopolistically competitive market is

A) that it is difficult for firms to get together to collude. B) that products produced by firms will be good substitutes. C) that firms will not take into account the reaction of rival firms. D) that price rigging commonly occurs.

Economics

Students who talk loudly with each other in class

A) create an externality because other students cannot follow the lecture as well. B) disturb nobody. C) benefit the other students in class because they engage in conversation. D) only create an externality if they talk about something unrelated to class.

Economics