Which of the following areas of study typifies macroeconomics as opposed to microeconomics?
a. the effects of rent control on the availability of housing in New York City
b. the economic impact of tornadoes on cities and towns in Oklahoma
c. how tariffs on shoes affects the shoe industry
d. the effect on the economy of changes in the nation's unemployment rate
d
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If the nominal interest rate increases without any change in the rate of inflation:
A) the ratio of real interest rate to nominal interest rate increases. B) the real interest rate increases. C) the real interest rate decreases. D) the real interest rate remains the same.
A landfill site produces an obnoxious odor. Homes downwind of the site rent for $1000 per month while homes upwind of the site rent for $1500 per month
If the odor is the only detectable difference between two neighborhoods, the difference in the rent is the ________ of the odor. A) social cost B) external cost C) private cost D) marginal cost-benefit E) private benefit