Microeconomics approaches the study of economics from the viewpoint of:
a. inflation, unemployment, and economic growth.
b. the federal government.
c. individual economic units, such as consumers, firms, and units of government.
d. the economy as a whole.
c
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Lifetime income is distributed
A) less equally than annual income and less equally than measured wealth. B) less equally than annual income and more equally than measured wealth. C) more equally than annual income and less equally than measured wealth. D) more equally than annual income and more equally than measured wealth.
What would happen in the foreign exchange market if the European Central Bank raises European interest rates?
A) There will be a decline in the value of the euro. B) There will be a decline in the value of the dollar. C) There will be an increase in the value of the dollar. D) U.S. interest rates will decline.