Many people perceive erroneously that most macroeconomists spend a lot of time engaged in
A. forecasting.
B. macroeconomic research.
C. data development.
D. macroeconomic analysis.
Answer: A
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The saving-investment analysis for large open economies is somewhat more complicated than the analysis for small open economies mainly because ________
A) there is more information to keep track of for larger economies B) there are more unknowns in larger economies C) a larger economy may actually affect the world economy D) all of the above E) none of the above
Many public utilities are permitted to operate as monopolies because they enjoy economies of large-scale production
a. True b. False Indicate whether the statement is true or false
The primary problem with estimating elasticity of demand is that:
A. real-world changes in quantity demanded are the result of changes in price only. B. data on the quantities firms sell are unavailable. C. real-world changes in quantity demanded are the result of changes in many variables other than price alone. D. data on the prices firms charge are unavailable.
What has caused persistent inflation in the United States?
A. a decrease in labor productivity B. The nation's long-run aggregate supply curve has shifted to the left. C. supply-side inflation D. none of these