Which of the following could be an example of a question that would be studied in microeconomics?
A. How did the recession end in 2009 if unemployment continued to rise?
B. How will the legalization of marijuana in Colorado affect the market for cigarettes?
C. When should Congress raise taxes in order to tackle the debt crisis?
D. Why did our economic growth rate slow down during the 2000s?
Answer: B
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The stabilization policies of government are most likely to promote
A) high employment. B) price stability. C) reduced aggregate fluctuations. D) the interests of those who plan and execute them. E) the interests of the majority of voters.
Suppose an identical tax is levied on capital, labor, and land. Would the tax have the same effect in each of these markets? Explain your answer
What will be an ideal response?
Which of the following statements is NOT TRUE?
A) AC = AFC + AVC B) C = F + VC C) AVC = wage/MPL D) AFC = AC - AVC
Refer to the information provided in Figure 29.2 below to answer the question(s) that follow.
Figure 29.2Refer to Figure 29.2. If economic policy causes output to decrease to Y0 and the price level to decrease to P0, the aggregate demand curve shifts from
A. AD1 to beyond AD2. B. AD2 to below AD1. C. AD2 to AD1. D. AD1 to AD2.