The understanding of why an economy is contracting during slowdowns and how to recommend appropriate policies is studied under:

The degree to which people have access to goods and services that make their lives easier, healthier, safer, and more enjoyable is called the:

A. scarcity standard. B. standard of living. C. microeconomic standard. D. global standard.

If total output increases from $1 trillion to $2 trillion as population increases from 100 million to 250 million, then output per person:

A. remains constant. B. doubles. C. decreases. D. increases, but by less than 100 percent.