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The European Central Bank said the euro zone grew faster than
expected in the first half of the year, and raised its growth forecast
for the bloc for 2017, to 2.2%- the fastest pace in ten years. France's
president, Emmanuel Macron, threw his weight behind a German
proposal for a European Monetary Fund to dampen euro-zone
economic shocks. This is an example of a news item about a _____
issue.
a) macroeconomic
b) micoeconomic
a) macroeconomic
Macroeconomics: employment, inflation, economic growth
Microeconomics: one specific area, actions of people, business,
industries
,Suppose rational decision-maker Carla decided to go to a concert
and faced a choice: buy a ticket to see Beth Patterson or buy a
ticket to see Robin Yukiko. She chose to purchase a ticket to see
Robin. Suppose further that the price of a ticket to see Beth was $25
and the price of a ticket to see Robin was $20.
In the situation above, can be concluded with certainty that Carla's
expected pleasure from seeing Robin was greater than or equal to
her expected pleasure from seeing Beth?
a) yes
b) no
b) no
Cannot measure pleasure
,Suppose rational decision-maker Carla decided to go to a concert
and faced a choice: buy a ticket to see Beth Patterson or buy a
ticket to see Robin Yukiko. She chose to purchase a ticket to see
Robin. Suppose further that the price of a ticket to see Beth was $25
and the price of a ticket to see Robin was $20.
In making her decision about which ticket to purchase, Carla's sunk
cost was
a) $0
b) $5
c) $20
d) $25
E) $45
c) $20
Sunk cost: how much spent regardless
-cheapest is $20
, Suppose rational decision-maker Carla decided to go to a concert
and faced a choice: buy a ticket to see Beth Patterson or buy a
ticket to see Robin Yukiko. She chose to purchase a ticket to see
Robin. Suppose further that the price of a ticket to see Beth was $25
and the price of a ticket to see Robin was $20.
In the situation above, what was Carla's benefit from seeing Beth in
concert?
a) The expected pleasure of seeing Beth perform plus $5
b) The expected pleasure of seeing Beth perform minus $5
c) The expected pleasure of seeing Beth perform minus $25
d) The expected pleasure of seeing Beth perform plus $20
e) The expected pleasure of seeing Beth perform
e) The expected pleasure of seeing Beth perform
-it is benefit, so cant chose an option with negative
-if she bought the $20, then it would be expected pleasure of
seeing Robin plus $5
Wine Cloth
England 72 8
Portugal 49 7
The table above depicts England and Portugal's __________ each good.
a) production of
b) efficiency at
c) opportunity cost of
d) productivity at
d) productivity at