The branch of economics which studies the behavior of entire economies and policies that affect the economy as a whole is called
A) macroeconomics. B) normative economics.
C) microeconomics. D) public economics.
A
You might also like to view...
A perfectly competitive firm maximizes profits? (or minimize? losses) when it produces the quantity where marginal revenue equals marginal cost and the price? is:
A. greater than average fixed cost. B. greater than average variable cost. C. greater than average total cost. D. greater than marginal cost
Michael spends $10 a month on Pez dispensers and Superman action figures. His marginal-utility-to-price ratio for the Pez dispensers is 40, while his marginal-utility-to-price ratio for Superman action figures is 47 . Explain why Michael is not maximizing his utility and how can he change his behavior to increase his utility?
_____ is an arrangement between an attorney and the plaintiff, in which the latter agrees to pay a certain fraction of the money he/she wins to the former
a. Hourly billing b. Capitation c. Contingency d. Unitization
Which of the following is true of a proportional tax rate? a. It is a tax rate that remains constant as the tax base changes
b. It is a tax rate that decreases as the tax base increases. c. It is a tax rate that increases as the tax base increases. d. It is a tax rate that increases as the tax base increases and then decreases as the tax base decreases.