Which of the following are primarily macroeconomic topics and which are primarily microeconomic topics?
a. college tuition rates
b. farm subsidies
c. national income
d. automobile prices
e. air traffic congestion
f. economic recession
What will be an ideal response?
c and f are primarily macroeconomic topics.
a, b, d, and e are primarily microeconomic topics.
You might also like to view...
If a typical firm in a perfectly competitive industry is earning profits, then
A) all firms will continue to earn profits. B) new firms will enter in the long run causing market supply to decrease, market price to rise, and profits to increase. C) new firms will enter in the long run causing market supply to increase, market price to fall, and profits to decrease. D) the number of firms in the industry will remain constant in the long run.
What does it mean that a currency has been designated legal tender? How important is the designation?
What will be an ideal response?