Microeconomics primarily models:
a. the overall economy
b. the behavior of firms but not households.
c. the behavior of households but not firms.
d. the behavior of both firms and households and how they interact in the marketplace.
d
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Sample selection bias occurs when
A) the choice between two samples is made by the researcher. B) data are collected from a population by simple random sampling. C) samples are chosen to be small rather than large. D) the availability of the data is influenced by a selection process that is related to the value of the dependent variable.
All other things unchanged, a decrease in the value of the dollar against the euro _______ U.S. net exports and shifts the aggregate demand curve to the _______.
A. increases, right B. decreases, right C. increases, left D. decreases, left
The monetary base is
A) currency and reserves of depository institutions. B) currency minus depository institutions' reserves. C) depository institutions' reserves minus Federal Reserve notes. D) the money borrowed by banks from other banks.
Three of the four following questions are indicative of the three fundamental economic questions. Leaving out the irrelevant question, rearrange the three relevant questions in the order an economy must answer them. - How should hybrid cars be produced? - Should corn be produced in the North or in the South? - Who drives hybrid cars? - Should more hybrid cars and fewer SUVs be produced?
A. 1. Should more hybrid cars and fewer SUVs be produced? 2. Should corn be produced in the North or in the South? 3. How should hybrid cars be produced? B. 1. Who drives hybrid cars? 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South? C. 1. Should more hybrid cars and fewer SUVs be produced? 2. How should hybrid cars be produced/ 3. Who drives hybrid cars D. 1. How should hybrid cars be produced 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South?