Microeconomics is the branch of economics that deals with
A) highly aggregated markets or the entire economy.
B) the production side of the economy, exclusively.
C) the buying side of the economy, exclusively.
D) human behavior and choices as they relate to relatively small units --- an individual, a firm, an industry.
D
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Refer to the figure above. If A forms a customs union with C, the post agreement price will be
A) $10 B) $15 C) $20 D) $25
Interest rate differences between countries depend on
A) differences in expected inflation, but not on expected changes in the real exchange rate. B) differences in expected changes in the real exchange rate, but not on expected inflation. C) neither differences in expected inflation, nor on expected changes in the real exchange rate. D) differences in expected inflation and nothing else. E) differences in expected inflation, and on expected changes in the real exchange rate.