If macroeconomics looks at the economy as a whole, it focuses on which of the following?
A. households
B. business firms
C. unemployed people
D. the division of labor
C. unemployed people
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One of the weaknesses in pursuing the objective of profit maximization is that it ignores
A) the timing of cash flows. B) the time-value of money concept. C) the riskiness of cash flows. D) All of the above
Price floors are instituted because the government wants to:
a. help consumers. b. help producers. c. raise tax revenue. d. prevent imports. e. increase demand.
Which of the following could cause the supply curve of loanable funds to shift to the right?
a. increase in productivity b. increase in the rate of interest c. decrease in the rate of interest d. decrease in productivity e. expectation that future prices will decrease
In a "game," strategies are
A. the potential returns the participants may get. B. the plans made by the participants. C. the laws regulating the industry. D. the reactions of firms to the changes in the economy.