Which one is a macroeconomic topic?
a. A business decides to buy new software.
b. A person decides to return to college.
c. The central bank lowers interest rates to stimulate the economy.
d. The government issues new environmental regulations.
c. The central bank lowers interest rates to stimulate the economy.
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The period of the business cycle between the peak and the trough is the
A) recession. B) expansion. C) recovery. D) All of the above may fall between the peak and the trough.
If the long-run equilibrium of an economy is disrupted by an unexpected shift to a more expansionary monetary policy, the policy shift will
a. reduce aggregate demand and real output in the short run. b. lead to a higher rate of unemployment in the short run. c. stimulate real output in the short run, but in the long run, its primary impact will be on the general level of prices. d. lead to an increase in the general level of prices in the short run, but in the long run, its primary impact will be an expansion in real output.
The economic return to oil resources is called:
a. Rent. b. Wages. c. Profits. d. Interest. e. None of the above.
If wages drop below the market equilibrium level in a competitive labor market:
A. unemployment will persist until the wage increases. B. firms will be able to offer lower wages and still fill all the jobs they have. C. firms will demand more labor than workers are willing to supply. D. All of these statements are true.