Macroeconomics deals with
A. the what, who, and how questions faced by any economy
B. the role of prices and markets in allocating outputs
C. the determinants of aggregate output, overall levels of prices and inflation, growth, etc.
D. all of the above
Ans: C. the determinants of aggregate output, overall levels of prices and inflation, growth, etc.
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Steve owns a motorcycle valued at $5,000 and that is his only asset. There is a 5 percent chance that Steve will have an accident within a year. If he does have an accident, his motorcycle is worthless
Steve's utility of wealth curve is shown in the figure above. An insurance company agrees to pay Steve the full value of his motorcycle in case of an accident if he buys the company's insurance policy. The company's operating expenses are $500 per policy. What is the minimum premium that the insurance company will accept? A) $1,000 B) $2,000 C) $500 D) $1,500
Why did President George W. Bush feel the need for a stimulus package for the U.S. economy after September 11, 2001? As a conservative, what type of fiscal stimulus would be most appealing to President Bush?