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Macroeconomics Questions and Answers (Q&A)

W. Mocroft, Philanthropist
Answered: Jan 02, 2019
A closed economy (and there are extremely few) means complete self-sufficiency. A closed economy means there is no trade activity with outside economies, no exports, no imports. The remote...Read More

3 Answers

559 views
A.Nancy
Answered: Mar 07, 2018
The primary concern of economic studies is with the choices that are made in seeking to use scarce resources in an efficient manner. The focus of economics is primarily on the behavior and the...Read More

2 Answers

373 views
John Smith
Answered: Mar 31, 2020
Notion that, under competition, buying and selling decisions motivated by self-interest promote the social interest.

1 Answer

358 views
Emy_
Answered: Mar 31, 2020
Inflation reduces people s real purchasing power because it raises the cost of the things people buy

1 Answer

302 views
Muhammadakram
Answered: Mar 31, 2020
Change in price level from base year to current year

1 Answer

292 views
J. Emmerich, Web Content Writer
Answered: Dec 26, 2018
The most basic proposition of the law of demand is that as the price of a good rises, a lower quantity is demanded, or answer C. This is because the law of demand is part of the supply and demand...Read More

2 Answers

279 views
Sultan.h.g
Answered: Mar 31, 2020
Brazil has both a comparative advantage and an absolute advantage in sugar cane production.

1 Answer

270 views
F. Ray, Student
Answered: Dec 05, 2018
If the price of product A drops and the demand curve of product B shifts right, then it can easily be concluded that products A and B are complementary products. When a curve shifts right,...Read More

2 Answers

269 views
John Smith
Answered: Mar 31, 2020
A truck used in transporting steel to an automobile factory

1 Answer

268 views
John Smith
Answered: Mar 31, 2020
The construction of a new computer chip factory by Intel

1 Answer

258 views
Muhammadakram
Answered: Mar 31, 2020
Produced domestically

1 Answer

247 views
Chris Kenway, Content Writer
Answered: Apr 09, 2019
The correct answer to this question is B, per capita GDP. It is used to compare countries economic output to one another. It compares this by its residents. It divides the economic output by the...Read More

3 Answers

240 views
Sultan.h.g
Answered: Mar 31, 2020
The United States has a comparative advantage in sofas.

1 Answer

239 views

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