An answer to the question "How are goods produced?" determines:
A) who receives the goods that are produced.
B) how tastes and preferences are determined.
C) how resources are combined in the production of goods.
D) the types and quantities of goods and services produced.
Ans: C) how resources are combined in the production of goods.
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M1: The most narrowly defined money supply. It includes
The branch of economics that focuses on economywide variables like inflation and unemployment is called:
a. macroeconomics. b. microeconomics. c. free-market economics. d. aggregate economics.
Government transfer payments include all of the following except
a. retirement benefits b. paid vacations c. veteran benefits d. disability payments e. subsidies to farmers
A plumber who quits his job in Indianapolis and moves to Orlando where additional plumbers are needed is said to be ___________________ unemployed
A) frictionally B) structurally C) cyclically D) underemployed