The basic difference between macroeconomics and microeconomics is that:
a. microeconomics looks at aggregate markets while macroeconomics is concerned with individual markets.
b. macroeconomics is concerned with policy decisions while microeconomics applies only to theory
c. microeconomics is concerned with individual markets while macroeconomics is concerned with aggregate markets.
d. macroeconomics is concerned with positive economics while microeconomics is concerned with normative economics.
c
You might also like to view...
When spending is less than production, inventories are higher than what producers expected.
Answer the following statement true (T) or false (F)
In the long-run ISLM model and with everything else held constant, the long-run effect of an expansionary fiscal policy is to ________ real output and ________ the interest rate
A) increase; increase B) not change; not change C) increase; not change D) not change; increase
Perfect price discrimination
a. eliminates deadweight loss. b. reduces profits to the monopolist. c. decreases the total quantity sold by the monopolist. d. requires arbitrage in order for the monopolist to maximize profits.
Which of the following statements is true?
A. Both nominal and real interest rates are procyclical and lagging. B. Both nominal and real interest rates are procyclical and leading. C. Nominal interest rates are procyclical and real interest rates are countercyclical. D. Nominal interest rates are procyclical and real interest rates are acyclical.