The two topics of primary concern in macroeconomics are:
A. short-run fluctuations in output and employment and long-run economic growth.
B. unemployment and wage rates in labor markets.
C. monopoly power of corporations and small business profitability.
D. oil prices and housing markets.
Answer: A
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Which of the following explains the slower economic growth in the South compared to other regions of the country?
A. Much of the South's capital, public and private, was destroyed in the Civil War. B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s all bypassed the South. C. The South remained an agricultural region after the Civil War instead of immediately becoming a higher productivity manufacturing region. D. All of the choices are true.