Microeconomics is concerned with the study of
A) the effects of inflation.
B) the effects of government spending.
C) the effects on individual producers of higher wages paid to workers.
D) aggregates.
Answer: C
You might also like to view...
Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year
He decides to play football, but eight years later, though he could continue to play football at $2 million a year, he quits football to make movies for $3 million a year. His opportunity cost of playing football at graduation was ________ and eight years later the opportunity cost of making movies was ________. A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000
All else equal, if Canada raises its interest rates,
A) the dollar depreciates. B) the U.S. demand for Canadian dollars increases. C) the Canadian supply of Canadian dollars increases. D) Both A and B. E) Both A and C.
When comparisons are made between the earnings of whites and minorities with the same age, quantity of schooling, marital status, sector of employment, union and industry status, regional location, and annual hours worked, recent studies indicate that
a. the corrected earnings of minority men are about two-thirds the earnings of white men. b. the corrected earnings of Mexican-Americans, Asian-Americans, and American Indians were between 7 and 9 percent less than the earnings of similar white men. c. earnings differentials between whites and minorities are due almost exclusively to employment discrimination. d. most minority men now have higher earnings than white men.
Which of the following would not shift the demand curve for beef?
A. A widely publicized study that indicates beef consumption increases one's cholesterol. B. A reduction in the price of cattle feed. C. An effective advertising campaign by pork producers. D. A change in the incomes of beef consumers.