Which of the following questions is more likely to be studied by a microeconomist than a macroeconomist?
a. Why do prices in general rise by more in some countries than in others?
b. Why do wages differ across industries?
c. Why do national production and income increase in some periods and not in others?
d. How rapidly is GDP currently increasing?
Answer: b. Why do wages differ across industries?
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If Massage R Us, a spa chain specializing in massage, offers a lower price for a massage to senior citizens, this is an example of ________.
A) second-degree price discrimination B) first-degree price discrimination C) third-degree price discrimination D) zero-degree price discrimination
If this firm were a perfect competitor, it would produce at _____ units of output and charging a price of _______.
A. 200; $7.00.
B. 200; $12.80.
C. 280; $10.40.
D. 280; $12.00.
In exhibit 9-2, the marginal propensity to save equals
What will be an ideal response?
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.