In the above figure, the efficient quantity of milk is
A) 10 million gallons per day.
B) 5 million gallons per day.
C) zero gallons per day.
D) None of the above because all of the quantities are efficient.
B
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The field of economics that focuses on the actions of individual agents within the economy, like households, workers, and businesses is:
A) Global economics B) Macroeconomics C) Microeconomics
When automatic fiscal stabilizers are in place, a shock that causes a fall in the level of economic activity automatically
a. results in a decline in the federal budget deficit that lessens the fall in income. b. results in a rise in the federal deficit that lessens the fall in income. c. requires the federal government to balance the budget. d. will lead to a permanent increase in the budget deficit. e. both a and b