Multiple Choice
Macroeconomics is described best by which of the following statements?
A) Macroeconomics is the study of the economy as a whole.
B) Macroeconomics is the study of how firms strive to maximize profits.
C) Macroeconomics is the study of the demand for labour by firms and the supply of labour by households.
D) Macroeconomics is the study of why some households have higher income than others.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Investments in physical capital and investments in
Q3: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10399/.jpg" alt=" -The opportunity cost
Q4: Macroeconomics differs from microeconomics in that:<br>A) the
Q5: Which of the following would not promote
Q6: In order to properly ignore opportunity costs,
Q8: The study of individuals' decision-making about particular
Q9: The problem of scarcity is present in
Q10: Class attendance today is nearly 100% but
Q11: Economists believe that incentives are the only
Q12: Economists believe that incentives form a central