Of the following items, which is least likely to be discussed by a teacher of macroeconomics?
a. the national employment
b. the business cycles
c. our unemployment policy
d. national income accounting
e. a firm's profit
E
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What is meant by decreasing returns to scale?
What will be an ideal response?
One characteristic of cattle that makes them unsuitable as a medium of exchange is that they are not easily divisible
a. True b. False Indicate whether the statement is true or false
In the above figure, if household consumption is positively related to household income, then an increase in household income will
A) shift the line rightward. B) shift the line leftward. C) make the line positively sloped. D) cause a movement along the line.
Which of the following most accurately describes the changes in GDP and unemployment between 1929 and 1933?
a. Real GDP changed little but the unemployment rate increased to about 50%. b. Real GDP increased by about 10% and the unemployment rate decreased to about 3%. c. Real GDP decreased by about 30% and the unemployment rate increased to about 25%. d. Both Real GDP and the unemployment dropped significantly.