Which of the following is a microeconomic question?
A) Why do economies experience periods of high inflation?
B) Will Federal Reserve intervention lower the inflation rate?
C) Why has growth in the economy increased since the end of the recession?
D) Will the merger of American Airlines and US Airways increase or decrease airfares?
Answer: D
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A commercial bank puts the funds it receives from various sources into
A) securities, cash assets and loans. B) loans, notes and coins in the bank's vault and deposits. C) reserves, deposits and loans. D) securities, cash assets and deposits.
The three ways of reducing a government budget deficit are to
A) decrease government spending, reduce consumption, increase the tax rate. B) increase government spending, decrease real income, reduce the tax rate. C) decrease government spending, increase real income, reduce the tax rate. D) decrease government spending, increase real income, increase the tax rate.
One reason firms in monopolistic competition can charge different prices is that their products are
a. identical. b. similar. c. differentiated. d. guaranteed.
The relationship between prices and the corresponding quantities supplied is shown in a:
a. supply schedule. b. demand schedule. c. price-earnings ratio. d. production possibilities curve. e. total output schedule.