Macroeconomics is a study of the economy as a whole, and microeconomics includes the study of decisions made by individuals and businesses
Indicate whether the statement is true or false
TRUE
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If consumer incomes go up and cars are a normal good, the effect on the demand for cars ceteris paribus, will be a(n):
a. upward movement along the demand curve for cars. b. downward movement along the demand curve for cars. c. rightward shift in the demand curve for cars. d. leftward shift in the demand curve for cars.
A current account deficit is matched by a financial account surplus
a. True b. False Indicate whether the statement is true or false
The short-run average cost curve shows the lowest possible average cost corresponding to each output level, assuming that all inputs are variable
a. True b. False Indicate whether the statement is true or false
Do monetarists favor rules or discretionary policy? Why?
What will be an ideal response?