Which of the following would be studied by macroeconomists?
A. Inflation in developing countries.
B. The effect of government subsidies on sugar prices.
C. The impact of the minimum wage on families below the poverty level.
D. The effect of rent controls on housing prices in New York City.
Answer: A
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Assume that a small country produces only green peppers and red peppers. Last year, it produced 100 green peppers and 50 red peppers and sold them at prices of $2 per green pepper and $3 per red pepper
This year, it produced 150 green peppers and 60 red peppers and sold them at prices of $2 per green pepper and $4 per red pepper. What is real GDP this year if the base year is last year? A) $540 B) $350 C) $890 D) $400 E) $480 Data for 2009 Data for 2010
The gains from free trade are enjoyed by a ________ number of people and the costs of free trade are imposed by ________ number of people
A) small; large B) large; small C) small; small D) large; large