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.
Answer: B
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Foreign direct investment in the United States declined 42 percent in the first quarter of 2009. This means that
A) people or firms in other countries reduced their building of facilities or purchases of facilities in the United States by 42 percent in the first quarter of 2009. B) people or firms in the United States reduced their purchases of stocks and bonds in foreign countries by 42 percent in the first quarter of 2009. C) people or firms in other countries reduced their purchases of stocks and bonds in the United States by 42 percent in the first quarter of 2009. D) people or firms in the United States reduced their building of facilities or purchases of facilities in foreign countries by 42 percent in the first quarter of 2009.
What is the impact of expansionary fiscal policy on the exchange rate? Explain the process through which expansionary fiscal policy affects the exchange rate.
What will be an ideal response?
President Gerald Ford referred to inflation as
a. a blight on our nation's economy. b. a necessary evil to combat high unemployment. c. public enemy number one. d. a fly in the ointment.
Which of the following might cause the demand curve for an inferior good to shift to the left?
a. a decrease in income b. an increase in the price of a substitute c. an increase in the price of a complement d. None of the above is correct.