Which of the following is NOT a macroeconomic question?
A) How does a fiscal stimulus package affect gross domestic product?
B) Should Congress enact tougher immigration laws to reduce unemployment?
C) Should we have a constitutional amendment requiring the federal government to balance the budget each year?
D) Should restaurants be required to list the number of calories for each product on their menus?
D
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For most firms, if the marginal cost curve is plotted on a graph, marginal cost will
A. increase then decrease. B. decrease then increase. C. remain constant. D. decrease over the entire range of output.
Other things being equal, the higher the cost of capital
A) the higher the NPV of a project. B) the higher the IRR of the project. C) the lower the NPV of the project. D) The cost of capital has no effect on the NPV of the project.
Refer to Figure 2.1. At point A, demand is:
A) completely inelastic. B) inelastic, but not completely inelastic. C) unit elastic. D) elastic, but not infinitely elastic. E) infinitely elastic.
Agriculture is an example of
A) perfect competition. B) oligopoly. C) monopoly. D) monopolistic competition.