While their respective subject matters differ greatly, both microeconomists and macroeconomists rely on the same basic tools; that is, both rely on
a. government contracts to promote research and publications.
b. demand-and-supply analysis.
c. the economic theory of John Maynard Keynes.
d. consumer protection laws and antitrust legislation.
b
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A forward exchange market contract obligates the owner to make a trade at a specified exchange rate a fixed number of days in the future
Indicate whether the statement is true or false
According to the graph shown, if the economy opens itself to free trade, it will become a:
This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price
for that good.
A. net exporter.
B. net importer.
C. autarky.
D. quota rent seeker.
Most economists support the idea of peak-load pricing on the grounds of
A. fairness in income distribution. B. efficiency in input usage. C. equality of opportunity. D. efficiency in output allocation.
An externality is:
A.) A cost or benefit of a market activity that impacts a third party. B.) The private costs that are borne by an individual. C.) The cost of clean up paid for by the polluter. D.) A situation in which the government solution makes the outcome worse.