Macroeconomics is mostly focused on:
A. the individual markets within an economy.
B. only the largest industries in the economy.
C. the economy as a whole.
D. why specific businesses fail.
Answer: C
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Financial intermediaries, such as commercial banks, help borrowers, particularly small borrowers, by:
A. offering tax-preferred borrowing opportunities. B. eliminating the risk of borrowing. C. providing information to evaluate financial investments. D. providing credit that might otherwise not be available.
Government regulation can improve economic efficiency if _____
a. regulators encourage uncompetitive markets to act competitively b. regulators have private information firms do not have c. regulators are able to coordinate inter-industry actions to achieve efficiencies d. regulators base their actions on the revealed preferences of market participants
In any production process the marginal product of labor equals
a. Change in total output divided by change in labor input b. Total output divided by total input c. Total output d. None of the above
A demand curve for The Steel Porcupines' concert tickets would show the:
a. quality of service that customers demand when they buy a ticket. b. number of people who like to attend the concert. c. number of tickets the promoters are willing to sell at each price. d. number of concert tickets that will be purchased at each price.