Studying how the management of Hewlett Packard decides how many computers to produce and the price to charge for its computers would be considered
A. microeconomics.
B. macroeconomics.
C. empirical economics.
D. descriptive economics.
Answer: A
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Use the above figure. Which graph depicts an inferior good?
A) A B) B C) C D) D
A centrally planned economy encourages investment and innovation.
Answer the following statement true (T) or false (F)
The statement "There is no accounting for taste" implies
A) individuals all have the same preferences. B) individuals all have different cardinal preferences but the same ordinal preferences. C) individuals all have different ordinal preferences but the same cardinal preferences. D) individuals all have different ordinal and cardinal preferences.
In the market for reserves, if the federal funds rate is between the discount rate and the interest rate paid on excess reserves, a decline in the reserve requirement ________ the ________ curve of reserves and causes the federal funds interest rate
to fall, everything else held constant. A) decreases; demand B) increases; demand C) increases; supply D) decreases; supply