Macroeconomics, as opposed to microeconomics, includes the study of what determines the
A) wages paid to employees of Walmart.
B) prices charged for automobiles produced by Tesla.
C) exchange rates between the U.S. dollar and the currencies of Asian nations.
D) quantity of iPhones produced by Apple.
C
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Denise is thinking about setting up a butterfly garden in her backyard. She estimates that it will cost her $2,000 to purchase and install special plants and an irrigation system to attract butterflies. The benefit she expects to receive is $1,800. In addition, neighbor Billy will receive a benefit of $150 and neighbor Sammy will receive a benefit of $100. From this, we can conclude that:
A. butterflies are a negative externality for Billy and Sammy. B. Denise will set up the butterfly garden without any help from her free-rider neighbors. C. if Sammy refuses to contribute to the butterfly garden, he will be unable to enjoy its benefits if it is built. D. if Billy and Sammy contribute the amounts at which they value the butterfly garden, Denise will set it up.
When estimating GDP using the income approach, aggregate income is adjusted by
A. subtracting depreciation. B. subtracting indirect business taxes. C. adding indirect business taxes. D. adding net income earned abroad.