Major macroeconomic questions include all of the following EXCEPT:
A. What are the causes of unemployment?
B. What causes economic growth?
C. What causes differences in wages between men and women?
D. Why does inflation vary over time and across countries?
Answer: C
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A call option is a contract
A. that gives the owner the right, but not the obligation, to buy shares of a stock at a specified price within the time limits of the contract. B. that gives the owner the right, but not the obligation, to sell shares of a stock at a specified price within the time limits of the contract. C. in which the seller agrees to provide a particular good to the buyer on a specified future date at an agreed-upon price. D. that gives the owner the right, but not the obligation, to buy or sell shares of a stock at a specified price within the time limits of the contract.
A decrease in net taxes:
a. raises aggregate expenditure by raising disposable income, thereby increasing consumption. b. raises aggregate expenditure by raising disposable income, thereby decreasing consumption. c. lowers aggregate expenditure by lowering disposable income, thereby decreasing consumption. d. lowers aggregate expenditure by lowering disposable income, consumption remaining constant. e. has no effect on aggregate expenditure.
What is meant by comparative? statics? Explain with an example.
A. A change in an outcome, such as consumption, that results from a change in a factor, such as the price. B. The effect of the best feasible choice, such as consumption, on its marginal cost. C. Changes in net benefits when a person switches from one alternative, such as consumption, to another, such as no consumption. D. Equilibria across multiple? markets, such as labor? markets, financial? markets, and service markets.
Select the graph below that best shows the change in the market specified in the following situation: In the market for gasoline, when the price of oil, which is used to produce gasoline, increases because of reduced production by major oil-producing
nations.
Assume that the graphs show a competitive market for the product stated in the question.
A. Graph A
B. Graph B
C. Graph C
D. Graph D