Current macroeconomic models use microeconomic principles because
A) they use the same language for all economists.
B) they highlight the sociological aspects of production.
C) the behavior of economic agents changes with policy.
D) we live in a democratic society and everybody has a say.
C
Economics
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If the population of Country A grows at 3% a year but technology growth is zero, then the neoclassical model predicts that in the steady state
a. the capital-to-labor ratio will increase at 3% a year. b. per capita output to grow at 3% a year. c. per capital output to grow at less than 3% a year. d. the capital-to-labor ratio to decrease at 3% a year. e. a and b.
Economics
GATT is an example of a successful unilateral approach to achieving free trade
a. True b. False Indicate whether the statement is true or false
Economics