Define macroeconomics
What will be an ideal response?
Macroeconomics is the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth.
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What is cost-plus pricing? Why do some firms use cost-plus pricing even when the firms' managers have the resources to devise a pricing strategy that would result in greater profits?
What will be an ideal response?
Currently capitalist income, that is, corporate profits, interest, and rent, accounts for about what percentage of the income paid to American resource suppliers?
A. 10 percent. B. 20 percent. C. 50 percent. D. 80 percent.
Refer to the graph shown. Assume the market is initially in equilibrium at point j in the graph but the imposition of a per-unit tax on this product shifts the supply curve up from S0 to S1. The effect of the tax is to raise equilibrium price from:
A. c to b. B. d to b. C. e to c. D. d to c.
Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product00102002060030720408205090060980The marginal product of the 40th input item is
A. 100. B. 10. C. 20.5. D. 80.