Which of the following is a microeconomic statement?
A) Total economic output increased by 2.5 percent last year.
B) Unemployment was 9.8 percent of the labour force last year.
C) The price of wheat declined last year.
D) The general price level increased by 4 percent last year.
E) Business investment decreased by 2 percent last year.
Correct Answer:
Verified
Q1: Which of the following is a capital
Q2: Economic resources do NOT include:
A)natural resources
B)real capital
Q3: The economic problem is essentially one of
Q4: The fundamental problem of economics is:
A)to establish
Q6: Economists assume that people customarily behave rationally,meaning
Q7: Which of the following is a macroeconomic
Q8: Microeconomics is concerned with the:
A)total levels of
Q9: As used in economics,the notion of scarcity
Q10: Economics is primarily the study of:
A)why resources
Q11: Economics can best be described as the
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