The study of the choices made by individual households, firms, and government is called:
A. macroeconomics.
B. microeconomics.
C. managerial economics.
D. market economics.
Answer: B
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Explain how free international trade tends to lead to factor price equalization under the assumptions of the HO model. What does this process predict about which groups should be in favor of or opposed to free international trade?
What will be an ideal response?
To calculate the point elasticity of demand, a manager must know
A) where the supply curve intersects the demand curve. B) two points on the demand curve. C) information about the entire demand curve. D) whether or not the demand curve is linear.
When depository institutions have negative excess reserves, it indicates that the banking system is not "loaned up."
a. True b. False Indicate whether the statement is true or false
A monopsonist can choose the ____________, while a monopolist can choose the ___________
a. price it will charge; wage rate it will pay b. wage rate it will pay; price it will charge c. price for its output; quantity it will produce d. marginal product of labor; marginal cost of labor e. number of competitors; number of buyers