Which of the following exemplifies a microeconomic question?
A. What is the current national rate of unemployment?
B. Is the economy experiencing a decline in the rate of inflation?
C. Will a new type of electronic reader or tablet increase the number of buyers?
D. Is the aggregate output in the economy greater this year than last year?
Answer: C
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In New York City, when he was the mayor Michael Bloomberg recommend that the city, with the help of private donors, make cash payments to poor and underprivileged parents who can certify that their children are attending school on a regular basis
The payments would start after third grade and go through high school, rising each year as dropout rates get higher and a child's forgone earning potential is higher. What economic concept does this policy represent? A) public goods B) incentives C) externalities D) technological progress E) the "invisible hand"
Average revenue equals the change in total revenue divided by the change in the quantity of output produced
a. True b. False