Answer the following questions true (T) or false (F)
1. The decisions Apple makes in determining production levels for its iPhone is an example of a microeconomic topic.
2. Examining the conditions that could lead to unemployment in an economy is an example of a microeconomic topic.
3. Suppose that to increase sales of hybrid vehicles, auto manufacturers are offering large cash incentives. This is an example of a macroeconomic topic.
1. TRUE
2. FALSE
3. FALSE
You might also like to view...
An isoquant represents levels of capital and labor that
A) have constant marginal productivity. B) yield the same level of output. C) incur the same total cost. D) All of the above.
All of the following are problems associated with maintaining a cartel except that:
a. cartels are illegal. b. a large amount of information is needed to coordinate a cartel. c. profits are not maximized by a cartel so it will evolve into a monopoly. d. each member of the cartel has an incentive to "chisel" by expanding output.