Macroeconomists think that
a. most questions about individual markets are more important than the overall economy.
b. questions of overall unemployment are less important than the jobs of particular workers.
c. the details of resource allocation and individual market prices are less important than the amount of national output.
d. the causes of unemployment usually lie with the personalities of individual workers.
e. the price of particular products is more important than the overall price level.
c
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Richard Baldwin's estimate was that the euro increased the trade level of its users by
A) only 5 percent. B) only 9 percent. C) over 30 percent. D) over 50 percent. E) only 12 percent.
A monopolistically competitive firm is producing an output level at which marginal revenue is less than marginal cost. This firm should __________ quantity and __________ price to increase profit or reduce losses
a. increase, increase b. increase; decrease c. decrease; increase d. decrease; decrease e. increase; not change