Microeconomics is the study of
a) the economy as a whole.
b) individual components in the economy.
c) individual economic behaviour.
d) both (b) and (c).
Answer: d) both (b) and (c)
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Based on the figure above, which of the following factors could lead the demand curve to shift leftward from D0 to D2?
A) a rise in expected future U.S. exchange rate B) a fall in the U.S. exchange rate C) a rise in the U.S. interest rate D) a rise in the U.S. exchange rate E) a fall in foreign interest rates
About what percentage of marketable national debt is held by foreigners?
A) 5 percent B) 15 percent C) 25 percent D) 50 percent
If not recycled, an input used in production ultimately winds up as a waste product
a. True b. False Indicate whether the statement is true or false
The dominant Keynesian view of the 1960s and 1970s stressed that
A) changes in government spending and budget deficits can help stabilize an economy. B) the "invisible hand" would be sufficient to lift the economy out of an economic downturn. C) government should avoid budget deficits at all times as they may destabilize the economy. D) both budget deficits and surpluses should be small relative to the size of the overall economy.