A macroeconomist would concentrate on which of the following issues?
A. The price of pizzas
B. The profits of the IBM Corporation
C. The unemployment rate in Germany
D. The market for hotdogs
Answer: C
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Business's cost of changing prices is referred to as:
A) inflation tax. B) menu costs. C) intangible costs. D) shoeleather costs.
Promoters for the Rolling Stones were clearly "short selling" when
A) they distributed their latest CD to radio stations free of charge. B) they sold their latest CD to retailers at wholesale prices. C) they sold the world-tour concert tickets weeks in advance. D) they promoted the band without Bill Wyman, the original bass player.
If a straight-line demand curve slopes down, price elasticity will:
a. remain the same at all points on the demand curve. b. change between any two points along the demand curve. c. always be greater than one. d. always equal one. e. always be less than one.
What do all expansions and recessions since 1950 have in common?
a. Changes in oil prices. b. Changes in interest rates. c. Changes in spending. d. Changes in productivity. e. None of the above.