Which question is an example of a macroeconomic question?
a. What is the level of industrial concentration in the automobile industry?
b. What policies would be recommended for stimulating national economic growth?
c. What economic incentives can be used to reduce the cost of health care?
d. What are the supply and demand conditions expected to be for the major farm crops?
b. What policies would be recommended for stimulating national economic growth?
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In the figure above, the total revenue of a perfectly price-discriminating monopolist at the profit-maximizing output is equal to the area of
A) 0aij. B) 0dgh. C) aci. D) obeij.
To graphically demonstrate the principle of increasing marginal opportunity cost, the production possibility curve must be:
A. bowed out. B. flat. C. bowed in. D. straight.
What three conditions must be satisfied in order for the Coase theorem to work?
What will be an ideal response?
Using the concepts of aggregate demand and aggregate supply, explain how the economy reaches an equilibrium level of real GDP and price level