Which question is an example of a macroeconomic question?
A. What economic incentives can be used to reduce the cost of health care in the nation?
B. What is the level of industrial concentration in the US automobile industry?
C. What market conditions are expected for milk in the nation this year?
D. What policies would be recommended for stimulating national economic growth?
Answer: D
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Which of the following goods will have the most inelastic demand at any time?
A. Jewelry B. Big Macs C. Electricity D. Pork chops
The slower the rate of capital formation: a. the greater the rate of economic growth
b. the slower the rate of economic growth. c. the greater the rate of population growth. d. the slower the rate of growth of the money supply.
Laws that are passed that either require or forbid certain behaviors are examples of command-and-control policies
a. True b. False Indicate whether the statement is true or false
Exhibit 9-5 Demand and cost data for a monopolist Price Quantity TR MR TC Profit $10 1 10 10 4 9 2 8 8 3 12 7 4 16 6 5 20 5 6 24 4 7 28 3 8 32 2 9 36 1 10 40 Refer to Exhibit 9-5. The demand schedule and cost schedule for a monopolist are provided. Which output level maximizes profit?
A. 2. B. 6. C. 4. D. 7.