The branch of economics which studies the behavior of entire economies and policies that affect the economy as a whole is called
A) public economics.
B) microeconomics.
C) macroeconomics.
D) normative economics.
Answer: C
You might also like to view...
(Long run) average cost curves are U-shaped when the production technology has decreasing returns to scale and the firm faces recurring fixed costs.
Answer the following statement true (T) or false (F)
The U.S. personal savings rate for the first quarter of 2012 dropped to its lowest level since the start of the recession. Americans stashed away 3.6 percent of personal income in the first quarter, down from 4
2 percent in the fourth quarter and a near-term peak of 6.2 percent in the second quarter of 2009. Which of the following could explain this drop in savings? A) a decrease in wealth from a fall in stock prices B) a rise in the real interest rate C) an increase in disposable income as the job market recovers D) a rise in consumer confidence that their incomes will be higher in the future
Structural unemployment is increased when the wage is kept above the market-clearing wage by:
A. worker mobility. B. skill-biased technological change. C. labor unions. D. unemployment insurance.
________: the slope of the aggregate consumption function
Fill in the blank(s) with correct word