Question 1 Macroeconomics studies the following topics: Answer national output,

Question

Question 1

Macroeconomics studies the following topics:
Answer

national output, the inflation rate, and the trade deficit.

differences in market structure.


the price of Cisco stock and wage differences.


all of the above.



Question 3

In a circular-flow diagram, total income and total expenditures in an economy are:
Answer

equal because every transaction has a buyer and a seller.

equal because firms are ultimately owned by households.

equal only if there is no saving.

always equal because some people's income is not for production.

Explanation / Answer

1 all of the above. 3 equal because every transaction has a buyer and a seller.

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