Macroeconomics is concerned primarily with
A) positive economics.
B) production and prices in particular markets.
C) aggregate economic variables.
D) normative issues.
C
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In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the cost of the CPI basket in 2013?
A) $430 B) $335 C) $320 D) $540
Suppose everyone in a small town decided to save more and spend less. How will this affect an economy?
a. It will decrease the overall level of income, since one person’s spending is someone else’s income. b. It will have no impact, since a small town makes up a small portion of an economy. c. It will cause the prices of many goods to increase. d. It will increase the overall level of income, since other groups will spend more.