Which of the following is a renewable resource?
A. Trees
B. Oil
C. Coal
D. Natural gas
Answer: A
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A decrease in the nominal wage will cause the aggregate supply curve to
A. shift outward. . B. shift inward. C. become flatter D. become steeper. .
Do macroeconomic issues concern the well-being of the typical individual member of an economy?
A) No, since we are focusing on the behavior of aggregate quantities. B) No, since most individuals have little contact with other economies in the world. C) Yes, since macroeconomic events have widespread effects on everyday lives. D) Yes, since macroeconomics focuses on the decisions constantly being made by the average individual.
Explain how long-run economic profits are linked to entry in monopolistic competition and perfect competition
What will be an ideal response?
The Little Man's Ice Cream Company sells ice cream in 5 countries from its small production facility in rural Vermont. According to economic definitions, this firm should be eligible for the "multinational business of the year" award
Indicate whether the statement is true or false