Microeconomics is the study of
A) how households and firms make choices.
B) the economy as a whole.
C) the global economy.
D) topics such as unemployment, inflation, and economic growth.
Answer: A
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In the LM curve, the __________ the interest-sensitivity of liquidity preference, the __________ the necessary increase in the rate of interest to restore equilibrium
A) greater; smaller B) greater; greater C) smaller; smaller D) None of the above.
A shock to the economy is a change in
a. production that only affects a few sectors b. production that initially affects the whole economy and then one or more sectors c. spending or production that initially affects one or more sectors and then spreads throughout the whole economy d. spending that only affects a few sectors e. spending that initially affects the whole economy and then one or more sectors