Macroeconomics primarily examines:
A. the behaviour of individual households and firms.
B. how prices are determined within individual markets.
C. broad issues such as national output, employment and inflation.
D. the output levels that maximize the profits of business firms
C. broad issues such as national output, employment and inflation.
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The aggregate expenditure (AE) curve
A) includes expenditures by domestic residents only. B) does not include expenditures on either imports or exports. C) includes expenditures on foreign as well as domestic goods. D) includes all expenditures on domestic goods. E) adds expenditures on imports because they are consumed in the nation and subtracts expenditures on exports because they are consumed abroad.
Which statement is true?
A. There is no evidence whatsoever to support the contention that women, blacks, Hispanics, and other minorities are victims of employment discrimination. B. The relatively lower wages earned by women and minorities can be explained entirely by employment discrimination. C. The poverty of women, blacks, and Hispanics can be explained almost entirely by their low earnings. D. None of these statements are true.
The balance of payments:
A. can only be expanded when the government has foreign exchange reserves. B. is always zero C. with some nations is different than it is with others D. is negative when the nation runs a trade deficit
Which of the following is held constant when constructing a production possibilities curve?
A) the price level B) the amount of total resources used C) combination of goods produced D) all of the above