The behavior of an individual firm is part of:
A) macroeconomics
B) mesoeconomics
C) microeconomics
D) institutional economics
Correct Answer:
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Q47: Inflation results when:
A) demand exceeds supply
B) supply
Q48: Adequate growth of the economy refers to
Q49: The participants in a market economy cannot
Q50: Exceptions to the circular flow are:
A) incidentals
B)
Q51: Adam Smith's "invisible hand" is"
A) government
B) divine
Q53: .In microeconomics, the household is defined as
A)
Q54: Income received by firms from sources other
Q55: Income received by households that is not
Q56: Need and demand:
A) are unrelated concepts
B) amount
Q57: Which of the following is NOT a
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