Microeconomics is concerned with issues such as
A. The demand for bottled water by individuals.
B. Maintaining a strong level of economic growth.
C. The level of inflation in the economy.
D. All of the choices are correct.
Answer: A
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The government has decided to give every person in the U.S. a $5 coupon that they can use at the grocery store to purchase their choice of cheese. We would expect this policy to lead to
A) an increase in aggregate demand but not equivalent to the full impact of all of the coupons redeemed due to some direct expenditure offset. B) no increase in aggregate demand because there would be no direct expenditure offset. C) an increase in aggregate demand equivalent to the full impact of all of the coupons redeemable. D) no increase in aggregate demand due to the Ricardian equivalence theorem.
An economy that contains both perfect and imperfect competition and both regulated and non regulated industries is known as a
a. traditional economy. b. mixed economy. c. market economy. d. conglomerate economy.
Which of the following is true of the short-run aggregate supply curve?
What will be an ideal response?
If the ________ curve shifts from year to year and the ________ curve does not, then the short run Phillips curve would be downward sloping.
A. aggregate supply; aggregate demand B. aggregate demand; aggregate supply C. inflation; employment D. employment; inflation