Macroeconomics is concerned with
A) individual business firms.
B) specific industries.
C) individual consumers.
D) a nation's entire economy.
D
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Suppose there are 180 million employed people and 20 million unemployed people
a. What is the unemployment rate? b. Suppose that 5 million unemployed people give up their search for jobs and become discouraged workers. What is the new unemployment rate?
Why does the presence of imperfect information lead to inefficiency?
What will be an ideal response?
List and describe four of the six categories of economic exchanges that are omitted from GDP calculations. Explain why these transactions are not included in GDP and give an example of each to help support your answer
If a price is below equilibrium,
A. A surplus will cause the price to fall and the quantity supplied to decrease. B. A shortage will cause the price to rise and the quantity supplied to increase. C. A shortage will cause the price to fall and the quantity supplied to decrease. D. A surplus will cause the price to fall and the quantity supplied to increase.