Which one is a macroeconomic topic?
a. A business decides to buy new software.
b. A person decides to return to college.
c. The central bank lowers interest rates to stimulate the economy.
d. The government issues new environmental regulations.
c. The central bank lowers interest rates to stimulate the economy.
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Which of the following is an example of explicit costs of production on a dairy farm?
a. payments made for cattle feed and veterinary services b. payments received from customers for milk and cheese c. amounts lost by not leasing out the farm’s grazing fields d. the salary the farmer could have earned working in town instead
What does the assumption of perfect knowledge include?
What will be an ideal response?
Which of the following is not an example of a noncooperative oligopoly model?
A) The kinked demand curve model. B) The model of limit pricing. C) The prisoner's dilemma game. D) The cartel model.
When a nation chooses to fix or float, it should consider:
A) only its domestic banks, importers, and exporters. B) only whether it has a great deal of economic integration. C) only whether it has similar circumstances in terms of demand or supply shocks with its trading partners. D) both the level of economic integration and the similarity of demand or supply shocks.