Which of the following is a macroeconomics question?
A. Why does a firm decide to enter a particular market?
B. Should we have a constitutional amendment to balance the federal budget?
C. Should the government prevent the merger of two large firms?
D. Should the government put a tax on alcohol in an attempt to reduce highway fatalities?
Answer: B
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According to economic theory, a politician will accept an invitation for another photo opportunity as long as
A) she is paid well. B) he can be sure he will look handsome in the picture. C) the marginal benefit exceeds the marginal cost. D) there are no costs involved.
Which of the following statements is TRUE about a non-cooperative game?
A) When two players each have a dominant strategy, joint profits may not be maximized. B) When two players each have a dominant strategy, joint profits are maximized. C) When players use their best responses, joint profits are maximized. D) None of the above.
The exchange rate of the dollar relative to other currencies is determined by market forces. When equilibrium is present in the exchange rate market,
What will be an ideal response?
A monopoly that results from economies of scale is called a(n):
A. large-scale monopolist. B. natural monopoly. C. antitrust violator. D. cost-plus firm.