The study of inflation is part of:

a. Macroeconomics
b. Microeconomics
c. Urban economics
d. Home economics


Answer: a. Macroeconomics

Economics

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Consider a downward-sloping demand curve. When the price of a normal good decreases, the income and substitution effects

A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.

Economics

In a typical cartel agreement, the cartel maximizes profit when it: a. behaves as a duopolist

b. is flexible in enforcing production targets. c. behaves as a monopolist. d. behaves as a perfectly competitive firm.

Economics

Can bankers create money? a. No, they do not have this power

b. No, unless they have a special charter which permits it. c. Yes, through multiple deposit creation. d. Yes, by printing checks for customers.

Economics

Food in the pantry of a household is a resource

Indicate whether the statement is true or false

Economics