Which of the following is a macroeconomic decision or concept?
A) the price of oil
B) how many television sets to produce
C) the unemployment rate for the entire economy
D) the unemployment rate for each firm
C
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The fiscal shock in Germany due to reunification caused the Bundesbank to pursue a monetary policy that:
A) was appropriate for Britain, since it had experienced a similar shock. B) was appropriate for all the other ERM nations but not Britain. C) was appropriate only for Germany, since neither Britain nor other ERM nations experienced a similar shock. D) had poor timing, since the monetary action should have come before the reunification.
From 1950-1970, labor productivity growth in the Soviet Union was driven primarily by
A) capital accumulation. B) population increases. C) total factor productivity. D) Capital, population increases, and total factor productivity contributed about equally to labor productivity growth.