81) Individual decision making by consumers and producers the focus : 1912922
81) Individual decision making by consumers and producers is the focus of
C) aggregate measures.
D) any economic model.
82) Aggregate measures are
A) anything to do with economics.
B) a total measure of a variable across the economy.
C) used only in microeconomics.
D) determined by the Bureau of Labor Statistics.
83) Microeconomics is the study of
A) aggregate measures of the economy.
B) foreign policy economic issues.
C) federal budget details.
D) individual decision making.
84) An example of a microeconomic decision is a situation in which
A) the Federal Reserve considers how much to increase the money supply during the coming month in an effort to constrain the rate of inflation.
B) Congress and the president seek to reach a compromise on how much to increase government spending in an effort to influence national expenditures.
C) a firm evaluates how much to reduce the price of its product in an effort to influence sales and boost its profits.
D) the U.S. Treasury contemplates buying foreign currencies in an effort to influence exchange rates with an aim to boosting demand for U.S. goods and services.
85) Explain the study of economics.
86) Is inflation a macroeconomic or a microeconomic question? Why?
87) Distinguish between macroeconomics and microeconomics.