The basic difference between macroeconomics and microeconomics is:
A. microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade.
B. microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms.
C. microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy.
D. microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.
C. microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy.
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A ________ strategy is when a player chooses a different strategy time after time
Fill in the blank(s) with correct word
Economists point out that scarcity confronts
A) neither the poor nor the rich. B) the poor but not the rich. C) the rich but not the poor. D) both the poor and the rich.
If the forward rate is greater than the spot rate, what are markets signaling about their expectations for the future spot rates for the home currency?
What will be an ideal response?
During a recession the Keynesian consumption theory predicts that the savings rate will ________ and the ________ theory that savings rate will ________
A) fall; PIH; fall B) fall; LCH; fall C) rise; PIH and LCH; fall D) rise; PIH and LCH; rise