__________ focuses on the actions of individual agents within the economy, like households, workers, and businesses.
Fill in the blank(s) with the appropriate word.
Answer: Microeconomics
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Use the following graph of the bicycle market to answer the question below.
S1 and D1 are the original supply and demand curves. D2 and D3 and S2 and S3 are possible new demand and supply curves. Starting from the initial equilibrium (point 1), which point on the graph is most likely to be the new equilibrium after an increase in wages of bicycle workers and a significant increase in the price of gasoline?
A. 4 B. 3 C. 5 D. 6
Limited commitment means
A) one cannot credibly promise something. B) one saves only part of what is optimal. C) only some households are allowed to save. D) there is rationing on the credit market.
Political freedom seems to be ________ important to growth than economic freedom
A) less B) more C) equally D) critically
An account period may be:
a. One quarter b. One month c. One year d. All of these