Microeconomics
A. studies individual decision making.
B. studies aggregate behavior.
C. cannot be applied too behaviors such as marriage.
D. cannot be used to address questions of what ought to be.
A. studies individual decision making.
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The weighted average of all possible outcomes of a project, with the probabilities of the outcomes used as weights, is known as the
A) variance. B) standard deviation. C) expected value. D) coefficient of variation.
The broadest indication of economy-wide inflation is captured by the
A) Consumer Price Index. B) Gross Domestic Product (GDP) deflator. C) Producer Price Index. D) Personal Consumption Expenditure Index.
Explain the idea of capital investment by using the story of Robinson Crusoe. What is sacrificed, and what is gained?
Shifts in the short-run aggregate supply curve lead to shifts in the short-run Phillips curve
a. True b. False Indicate whether the statement is true or false