A. imperfectly competitive markets:
B. Only the long run adjustments to equilibrium in the economy
C. The functioning of individual industries and the behavior of individual decision-making units business firms and households
D. the economy as a whole
Related Mcqs:
- The branch of economics ‘Microeconomics’ deals with______________?
A. small units, including individual companies and small group of consumers
B. Economics of homes
C. Economics of stock market
D. Economics of provinces - Macroeconomics deals with?
A. the behavior of the electronics industry
B. the behavior of firms
C. economics aggregates
D. the activities of individual units - Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
A. Free market economy
B. Laissez faire also Laisser faire
C. Open market economy
D. Liberal market economy - The key issues of macroeconomics are ?
A. unemployment
B. inflation
C. economic growth
D. All of the above - Macroeconomics is the study of ?
A. individual building blocks in the economy
B. the relationship between different sectors on the economy
C. household purchase decisions
D. the economy as a whole - The regarding the new classical macroeconomics is hoe realistic is the assumption ?
A. that monetary policy affects aggregates demand
B. that markets do not clear quickly
C. that fiscal policy affects aggregate demand
D. of rational expectations. - In macroeconomics, equilibrium is defined as that point at which ?
A. aggregate output equals consumption minus investment
B. saving equals consumption
C. Planned aggregate expenditure equals aggregate output
D. planned aggregate expenditure equals consumption - Which of the following statements about microeconomics and macroeconomics is not true ?
A. The study of very large industries is a topic within macroeconomics
B. Macroeconomics is concerned with economy-wide phenomena
C. Microeconomics is a building block for macroeconomics
D. Microeconomics and macroeconomics cannot be entirely separated - The classical model of macroeconomics assumes ?
A. wages and prices are sticky
B. wages and prices are flexible
C. the economy may operate below full capacity
D. the economy is always at full capacity
E. A and C
F. B and D - In a planned or command economy, all the economics decisions are taken by the ?
A. Consumers
B. voters
C. government
D. Workers
