An example of a microeconomic decision is a situation in which ...

[serike]

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.

Question 2

The term labor for an economist includes
 
  A) all skilled workers, but not the unskilled workers.
  B) all productive contributions of humankind.
  C) only the value of the work done by scientists.
  D) all employees who have high school diplomas.

[milbourne11]

Answer to Question 1

C

Answer to Question 2

B

[serike]

Excellent

[mammy1697]

TYSM