Which question is an illustration of a microeconomic question?
A. Is the purchasing power of the dollar higher or lower today than it was in 2005?
B. Is the quantity of wine purchased in one year dependent upon the price of wine?
C. Does government spending influence the total level of employment in the economy?
D. Is capitalism superior to socialism?
Answer: B
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Income taxes paid by corporations are
A) the major source of revenue for the federal government. B) the major source of revenue for state governments. C) the major source of revenue for local governments. D) about 9 percent of the federal government's revenue. E) the major source of expenditure by the federal government.
Wealth and substitution effects explain why the aggregate demand curve has a positive slope
Indicate whether the statement is true or false
A. What is the difference between a horizontal merger and a vertical merger?
b. Give an example of each type of merger. c. Could a horizontal merger be welfare improving? What will be an ideal response?
The immediate effects of a discretionary increase in government spending are represented by a: a. rightward shift of the aggregate demand curve. b. leftward shift of the aggregate demand curve. c. rightward shift of the Phillips curve
d. leftward shift of the Phillips curve. e. movement along the Phillips curve.