Macroeconomics is the branch of economics that focuses on:
a. broad issues such as growth, unemployment, inflation, and trade balance.
b. the actions of particular agents within the economy, like households, workers, and business firms.
c. the means of production (resources and businesses) that are owned and operated by private
individuals or groups of private individuals.
d. workers or firms, and whether they are well suited within the overall production process.
a. broad issues such as growth, unemployment, inflation, and trade balance.
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In the short-run, if the Federal Reserve decreases interest rates, then consumption and investment ________, aggregate expenditure ________, and short-run equilibrium output ________.
A. increase; increases; increases B. increase; increases decreases C. decrease; decreases; decreases D. increase; decreases; decreases
The real interest rate bringing the supply of saving equal to the demand for saving is an example of the:
A. cost-benefit principle B. equilibrium principle. C. scarcity principle. D. principle of increasing opportunity cost.
An increase in government spending
A) increases consumption and output. B) increases consumption, decreases output. C) decreases consumption, increases output. D) decreases consumption and output.
Explain why a tax increase on cigarettes in one state might not lead to a substantial price increase for all consumers in that state
What will be an ideal response?