The central macroeconomic concept that is most clearly related to changes in the well-being of the average member of the economy is the
A) unemployment rate.
B) inflation rate.
C) productivity growth rate.
D) None of the above is closely related.
C
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A diagram shows the quantity of tomatoes on the horizontal axis and the quantity of coffee on the vertical axis. The quantity of tomatoes remains constant as the quantity of coffee increases. The graph of these data is
A) a horizontal line. B) a vertical line. C) a positively sloped line. D) a negatively sloped line
Examining the conditions that could lead to a recession in an economy is an example of a macroeconomic topic
Indicate whether the statement is true or false
Diminishing marginal product of labor occurs when adding another unit of labor
A) increases output by an amount larger than the output added by the previous unit of labor. B) decreases output by an amount smaller than the output added by the previous unit of labor. C) changes output by an amount smaller than the output added by the previous unit of labor. D) decreases output.
If no other national income variables change when ________ increase, then GDP will decrease.
A. investments B. imports C. amounts of solid waste D. inventories