Which of the following lies primarily within the realm of macroeconomics?
A. a study of the demand for gasoline
B. a study of how tax cuts stimulate aggregate production
C. an analysis of supply and demand conditions in the electricity market
D. a study of the impact of "mad cow" disease on the price of beef worldwide
B. a study of how tax cuts stimulate aggregate production
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In an economy that did not use money, but in which barter was exclusively employed for the exchange of goods, inflation
A) could not occur. B) would be almost entirely the result of speculation. C) would benefit buyers more than sellers. D) would redistribute real income rather than money income. E) would strike hardest at those on fixed incomes.
Consider a small open economy with desired national saving of Sd = 200 + 10,000rw and desired investment of Id = 1000 - 5000rw. If rw = 0.05, then a rise in government spending of 50 with no change in private saving causes net exports to become
A) 100. B) 50. C) -50. D) -100.
The main goal of antitrust policy is to
A) encourage firms to produce at the MR = demand level. B) regulate natural monopolies. C) prevent the monopolization of industries. D) prevent the nationalization of industries.
The principle of diminishing returns to labor is based on the:
A. cost-benefit principle. B. equilibrium principle. C. principle of increasing opportunity cost. D. scarcity principle.