Which of the following statements best captures the relationship between microeconomics and macroeconomics?
a. For the most part, microeconomists are unconcerned with macroeconomics, and macroeconomists are unconcerned with microeconomics.
b. Microeconomists study markets for small products, whereas macroeconomists study markets for large products.
c. Microeconomics and macroeconomics are distinct from one another, yet they are closely related.
d. Microeconomics is oriented toward policy studies, whereas macroeconomics is oriented toward theoretical studies.
c
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Members of the Federal Reserve Board of Governors are appointed to 14-year terms to provide a level of isolation from political influence.
a. true b. false
The efficient markets hypothesis predicts that an investor
A) will not be able consistently to earn above-normal profits from buying or selling stocks. B) will be able consistently to earn above-normal profits from buying or selling stocks so long as he or she makes use of rational expectations. C) will be able consistently to earn above-normal profits from buying or selling stocks so long as he makes use of adaptive expectations. D) will be able consistently to earn above-normal profits so long as stock prices in general are rising.