The branch of economics that focuses primarily on aggregates is:
A. consumer economics.
B. microeconomics.
C. macroeconomics.
D. scientific economics.
Answer: C
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A normal profit is
A) revenues minus opportunity cost of zero. B) revenues minus accounting cost of zero. C) a zero accounting profit. D) revenues minus accounting and opportunity cost of zero.
In an economy where the poorest quintile of the population receives 5 percent of the income, the Lorenz curve:
a. is the diagonal of the box. b. lies below the diagonal in the box. c. lies above the diagonal in the box. d. is the lower right corner of the box. e. is the upper left corner of the box.
The earnings test reduces the amount of Social Security payments a retiree can collect unless she or he is under 60.
Answer the following statement true (T) or false (F)
Which of the following is true of sub-Saharan Africa?
What will be an ideal response?