Which of the following would not be studied in macroeconomics?
A. The growth rate of the U.S. economy.
B. The impact of government spending on the economy.
C. The causes of the Great Depression.
D. How a sharp increase in gasoline prices is likely to affect SUV sales.
Answer: D
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Use the following graph to answer the next question.
If this economy was an open economy without a government sector, the level of real GDP would be
A. $300 billion. B. $200 billion. C. $100 billion. D. $400 billion.
An increase in aggregate demand in the economy will have what effect on macroeconomic equilibrium in the long run?
A) The price level will rise, and the level of GDP will fall. B) The price level will rise, and the level of GDP will be unaffected. C) The price level will fall, and the level of GDP will fall. D) The price level will fall, and the level of GDP will rise.
In the long run, an increase in the price level: a. increases output prices relative to input prices. b. increases the profit margins of many producers. c. increases RGDP supplied
d. Does none of the above.
Which one of the following is most likely to increase the Herfindahl index of a particular industry?
A. A conglomerate merger. B. A vertical merger. C. A price-fixing arrangement among all the industry firms. D. A horizontal merger.