The study of microeconomic theory focuses on
A. individual behavior in the economy
B. Role of the banking system in the economy.
C. Operation of the entire economy.
D. Interaction of international trade and domestic production of goods and services.
Answer: A
Economics
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Development plans have often failed because
(a) they have been insufficiently specific about projects. (b) they have overlooked noneconomic considerations. (c) they have been overambitious. (d) all of the above. (e) none of the above.
Economics
Suppose the CPI does indeed overstate the inflation rate. When the CPI increases by 5% and household incomes increase by 5%, we should conclude that real incomes of households have:
A. increased more slowly than has inflation. B. increased. C. decreased. D. stayed constant.
Economics