Microeconomics deals with:
A) the working of the entire economy or large sectors of it.
B) employment, growth, and inflation.
C) individual units in the economy.
D) normative economics for the most part.
Ans: C) individual units in the economy.
You might also like to view...
An increasing-cost industry will have
A) a perfectly elastic long-run supply curve. B) a perfectly inelastic long-run supply curve. C) an upward sloping supply curve in the long run. D) an upward sloping demand curve in the long run.
The goal of industrial policy should be that
a. industries yielding the largest positive externalities should receive the biggest subsidies. b. any industry that produces negative externalities should be heavily taxed. c. any production process that produces negative externalities should be shut down. d. all industries that produce positive externalities should be equally subsidized.