Microeconomics is the study of
a. how money affects the economy.
b. how individual households and firms make decisions.
c. how government affects the economy.
d. how the economy as a whole works.
b
Economics
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A voluntary import expansion involves a
A) country agreeing to import more from another country. B) country agreeing to reduce its trade barriers. C) country agreeing to an import quota. D) firm agreeing to expand output.
Economics
In the Keynesian model in the short run, the amount of employment is determined by the effective labor demand curve and the level of
A. output. B. the real interest rate. C. the supply of labor. D. prices.
Economics