Author Question: Macroeconomics might study which of the following? A) the causes of domestic unemployment B) ... (Read 61 times)

darbym82 · **on:** Jun 29, 2018

Macroeconomics might study which of the following?

A) the causes of domestic unemployment
B) decision making undertaken by firms
C) decision making undertaken by households
D) determinants of the prices of rare goods (e.g., diamonds)

Question 2

Suppose all prices increase by 10 percent in the year while the total sales of HDTVs remain constant. This is

A) a violation of the law of demand since fewer HDTVs should be purchased at a higher price.
B) a violation of the law of demand since more HDTVs should have been purchased with higher incomes.
C) not a violation of the law of demand since the relative price of HDTVs did not change.
D) not a violation of the law of demand since the law of demand does not apply to expensive goods like HDTVs.