Macroeconomics, as opposed to microeconomics, includes the study of what determines the level of
A) output of a specific firm. B) employment in the economy.
C) employment in a specific industry. D) output of a specific industry.
B
Economics
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Which of the following correctly identifies characteristics of land and capital?
A) Land and capital can both be rented and owned. B) Land is rented, whereas capital is owned. C) Land can be owned or rented, whereas capital can only be owned by a firm. D) Capital can be owned or rented by a firm, whereas land can only be owned by a firm.
Economics
An inferior good
a. has a negative income elasticity. b. is one where the demand curve shifts to the left when income goes up. c. exists only in theory. d. is a low-quality good. e. Both a and b are true.
Economics