Which of the following lies primarily within the realm of macroeconomics?
a. a study of the elasticity of demand for gasoline
b. a study of how tax cuts stimulate aggregate production
c. an analysis of supply and demand conditions in the electricity market
d. a study of the impact of "mad cow" disease on the price of beef worldwide
b
You might also like to view...
Which of the following is a good proxy for the measure of economic prosperity when GDP per capita data is unavailable?
A) Measurements of producer surplus B) Measurements of consumer surplus C) Measurements of balance of payments D) Measurements of urbanization
The shorter is the interval between firms' price adjustments,
A) a given unexpected increase in aggregate demand will cause a larger increase in output. B) the greater is the scope for activist policies to stabilize the economy. C) the smaller is the scope for activist policies to stabilize the economy. D) a given unexpected increase in aggregate demand will cause a smaller increase in the price level in the short run.
Which of the following is a government response to asymmetric information?
A) product guarantees B) external product certification C) manufacturer's warranties D) government licensing
A concentration ratio measures
A. the average size of the firms in the industry. B. the excess capacity found in a particular oligopolistic industry. C. the share of industry sales accounted for by the largest firms in the industry. D. the sales of the three largest firms in the industry minus the costs of these three largest firms in the industry.