Which of the following is an example of a topic studied by macroeconomists?
A) Utility maximization by a consumer B) Decision making by a producer
C) Aggregate demand in an economy D) Price determination by a firm
C
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Assume that the quantity consumed of pizza is dependent on three factors: the price of a pizza, the income of pizza purchasers, and consumers' taste for pizza
When graphing the relationship between the price of a pizza and the quantity of pizza consumed A) the price of a pizza and the income of pizza consumers are the only variables that are allowed to change. B) the price of pizza and quantity consumed of pizza are the only variables that are allowed to change. C) consumers' taste for pizza and the income of pizza purchasers are the only variables that are allowed to change. D) None of the above answers are correct.
The Laffer curve expresses a relationship between:
a. tax rates and tax revenues. b. inflation and unemployment. c. interest rates and saving. d. money supply and the price level.