The primary focus of microeconomics is
A) to study how we managed to eliminate scarcity.
B) our government's monetary policy.
C) to examine the behavior and operation of the individual units or sectors that make up the economy.
D) the levels of employment and inflation.
E) to examine the operation of the entire (aggregate) economy.
C
Economics
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The best example of a good sold in a monopolistically competitive market is
A) pizza. B) the local newspaper. C) sewer services. D) peaches.
Economics
In a closed economy, which of the following equations reflects investment? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y - T + TR B) Y - C - T C) C + G -T D) Y - C - G
Economics