41) A microeconomist would study all of the following issues : 1912918
41) A microeconomist would study all of the following issues EXCEPT
A) the impact of a change in consumer income on the sales of corn.
B) the impact of a snowstorm on the sales of snow shovels.
C) the most efficient means for General Motors to produce an automobile.
D) the effect of a change in income taxes on the nation's rate of unemployment.
42) The macroeconomist would most likely study
A) the effects of changing apple prices on the market for oranges.
B) the effects of an increase in wage rates on a woman's decision to enter the labor force.
C) the effects of a lower income tax rates on the nation's total production of goods and services.
D) the effect of increased union wages on the cost of producing automobiles.
43) The impact of higher taxes would be examined by
A) a microeconomist.
B) a macroeconomist.
C) both a macroeconomist and a microeconomist.
D) neither a macroeconomist nor a microeconomist.
44) One topic of study for a microeconomist would be the
A) causes of inflation.
B) causes of aggregate unemployment.
C) effects of a gasoline price increase on consumer behavior.
D) effects of an increase in government spending on overall economic activity.
45) A friend wants to learn how the unemployment rate is calculated and how inflation is measured. He asks you which economics course to take and you advise him to enroll in
C) either micro- or macroeconomics. They both concentrate equally on those issues.
D) financial accounting because economics doesn't address those topics in its courses.
46) Which of the following would likely be studied in a macroeconomics course?
A) the unemployment rate
B) total output for an economy
C) the inflation rate
D) all of the above
47) Macroeconomics is concerned with
A) individual consumers.
B) government decision making concerning farm price supports.
D) the effects on a corporation of a strike by the United Auto Workers.
48) Macroeconomics often relies on microeconomic analysis because
A) microeconomics is older than macroeconomics.
B) microeconomic theory can be tested and macroeconomic theory cannot be tested.
C) all aggregates are made up of individuals and firms.
D) the effects of macroeconomic subjects such as inflation and unemployment are independent of individual consumers and firms.
49) Microeconomics is concerned with studying which of the following?
A) the determinants of national unemployment
B) the effects of monetary policy
C) the study of individual markets
D) all of the above
50) Microeconomics is concerned with the study of
A) the effects of inflation.
B) the effects of government spending.
C) the effects on individual producers of higher wages paid to workers.