Which of the following is considered a microeconomic issue?
A. Chinese economic growth has declined.
B. The Federal Reserve cuts key interest rates in order to stimulate lending.
C. Walmart decides to add more self-checkout machines as the cost of labor rises.
D. India experiences a reduction in unemployment after opening its borders to trade.
C. Walmart decides to add more self-checkout machines as the cost of labor rises.
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Reverse causation is the idea that
A) current increases in output cause future increases in the money supply. B) current increases in the money supply cause future increases in output. C) expected future increases in the money supply cause increases in current output. D) expected future increases in output cause increases in the current money supply.
In the long run, changing technology on average has led to: a. lower employment and lower wage rates
b. higher employment and lower wage rates. c. lower employment with wage rates unchanged. d. higher employment with wage rates unchanged. e. higher incomes and more leisure time.
Suppose Alice is deciding whether or not to go to a New York Giants game. Alice's enjoyment and thus decision, depends upon two uncertain events that are out of her control: whether the Giants win and whether it snows. She will be happiest if the Giants win and it does not snow. The newspaper reports a 35% chance for snow and the Giants record suggests a 40% chance of winning. The probability that the Giants lose and it snows is:
A. 21%. B. 26%. C. 95%. D. 25%.
In the long run, profit-maximizing monopolists facing a downward-sloping demand curve
a. may earn profits greater than their opportunity costs of capital. b. do not produce every possible unit of output for which marginal utility is greater than or equal to marginal cost. c. may or may not have lower costs than perfectly competitive firms in the same industry. d. All of the above are correct.