Microeconomics focuses on:
a. The individual units that make up the whole of the economy
b. The workings of the whole economy or large sectors of it
c. Issues such as unemployment and inflation
d. Total output and the general level of prices
a. The individual units that make up the whole of the economy
Economics
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People accept fiat money because: a. they can exchange it for gold whenever they want
b. they can sell the currency notes as a commodity as well. c. the government backs its value with a promise. d. they can consume it as a good if required.
Economics
Which of the following is a component of the equation of exchange?
A. Consumption. B. The interest rate. C. Investment. D. The velocity of money.
Economics