Which question is an illustration of a microeconomic question?
A. Is the purchasing power of the dollar higher or lower today than it was in 2008?
B. Does government spending influence interest rates in the economy?
C. Is the volume of wine produced in 1 year dependent on the price of wine?
D. Does a government deficit reduce national economic growth?
Answer: C
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At the time policymakers debated the Trans-Pacific Partnership, the United States imposed ________ on the value of imported shoes and shoe parts
A) tariffs of 1.5 to 12.5 percent B) tariffs of 95 percent C) no tariffs D) tariffs of 25 to 67.5 percent
Suppose the demand for good X is given by Qdx = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and income is $100. Given these prices and income, how much of good X will be purchased?
A. 115. B. 1,000. C. 515. D. None of the statements associated with this question are correct.