Modern economists are increasingly using microeconomic analysis in macroeconomics because
A) microeconomic theory is more scientific.
B) aggregate outcomes stem from decisions made by individuals, business firms and government.
C) macroeconomic subjects such as inflation affect all individuals.
D) macroeconomics is older and more outdated.
B
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The figure above shows an education market in which the government is providing households with vouchers. In total, how much do the schools receive for a student?
A) $4,000 B) $8,000 C) $12,000 D) $16,000 E) $20,000
One productivity standard for income distribution stated in the text is
A) income distribution should be based on contribution to society's total output. B) tax payments are higher for higher income people. C) poor people pay too much in taxes. D) the poor should contribute more to society.