Which of the following would most likely be part of the study of microeconomics?

A) how General Motors makes decisions regarding its production goals
B) national income
C) the total economic output of our domestic economy
D) overall price stability in the United States

Answer: A

Economics

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Which of the following would be most likely to cause the per capita income of less-developed countries to rise?

a. Development of strong labor unions. b. More rapid population growth. c. Investment expenditures that enhance the human capital of labor force participants. d. An international minimum wage law.

Economics

The effect of a change in the price of tea on the quantity of coffee demanded is measured by the

a. price elasticity of demand b. substitute elasticity of demand c. cross-price elasticity of demand d. income elasticity of demand e. alternative elasticity of demand

Economics