Which of the following will cause the largest reduction in the birthrate?
(a) the population becomes less religious
(b) public healthcare improves
(c) education becomes more available
(d) an increase in the opportunity cost of a woman's time
D
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Suppose the economy is in long-run equilibrium. Senator A succeeds in getting taxes lowered. At the same time, Senator B succeeds in getting major restrictions on logging enacted. In the short run
a) real GDP will fall and the price level might rise, fall, or stay the same. b) the price level will fall, and real GDP might rise, fall, or stay the same. c) real GDP will rise and the price level might rise, fall, or stay the same. d) the price level will rise, and real GDP might rise, fall, or stay the same.
The branch of economics which studies the behavior of entire economies and policies that affect the economy as a whole is called
A) macroeconomics. B) normative economics. C) microeconomics. D) public economics.