The primary focus of microeconomics is

A) to study how we managed to eliminate scarcity.
B) our government's monetary policy.
C) to examine the behavior and operation of the individual units or sectors that make up the economy.
D) the levels of employment and inflation.
E) to examine the operation of the entire (aggregate) economy.


C

Economics

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To conduct a randomized experiment, researchers usually classify the participants into a:

A) study group and a control group. B) treatment group and a test group. C) study group and a treatment group. D) treatment group and a control group.

Economics

Which of the following statements is true regarding the differences between economic and accounting costs?

A) Accounting costs include all implicit and explicit costs. B) Economic costs include implied costs only. C) Accountants consider only implicit costs when calculating costs. D) Accounting costs include only explicit costs.

Economics

If population grows faster than GDP, then per capita GDP must fall

a. True b. False Indicate whether the statement is true or false

Economics

Keynesians believe that the transactions demand for money influences the velocity of money

Indicate whether the statement is true or false

Economics