Microeconomics is concerned with
A. the aggregate or total levels of income, employment, and output.
B. a detailed examination of specific economic units that make up the economic system.
C. the establishing of an overall view of the operation of the aggregate economic system.
D. how government debt affects aggregate economic activity.
Answer: B
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All of the following are characteristics of a bond except
A) the coupon payment is the interest payment on the bond. B) a bond represents a promise to repay a fixed amount of funds. C) bonds generally pay dividends each year. D) the face value is repaid when the bond matures.
In the short run, the expansion path is
A) horizontal. B) vertical. C) diagonal. D) indeterminate.
For foreigners, the intersection of the demand for US dollars and the supply of US dollar is known as the
a. Inflation rate b. Exchange rate c. Price d. Quantity
If an inflationary boom exists, the appropriate fiscal policy is to:
a. increase the budget deficit. b. increase government spending and hold taxes constant. c. decrease government spending and/or raise taxes. d. hold government spending constant and decrease taxes.