Microeconomics examines the
A) total household expenditures.
B) behavior of the economy as a whole.
C) aggregate business spending.
D) decision making undertaken by individual households.
Answer: D
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Refer to Excise Subsidy. After the subsidy is granted, producers' surplus equals
The following questions refer to the accompanying diagram which shows the effects of an excise subsidy given to firms. The initial price and quantity are P0 and Q0, respectively. After the subsidy is granted, the equilibrium quantity is Q1, firms receive the price Ps, and consumers pay the price Pd.
a. area A + B + E + H.
b. area E + H + F + I.
c. area B + C + E + H.
d. area H.
The 1990s and 1920s have which of the following in common?
(a) Growth in real output, real output per person, employment and productivity (b) Changes in the levels of nominal output, money supply and participation in the stock market (c) Similar expansions in the stock markets at the end of each period (d) All of the above
Money is a more efficient store of value than wheat, especially when there is not rapid inflation
a. True b. False Indicate whether the statement is true or false
If reserves equal $29 million and vault cash equals $29 million, it follows that
A) bank deposits at the Federal Reserve equal $29 million. B) currency in the hands of the public equals $29 million. C) excess reserves equal $10 million. D) bank deposits at the Federal Reserve equal $0. E) There is not enough information to answer the question.