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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

1799 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

843 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

774 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

766 views
Muhammadakram
Answered: Dec 05, 2022
Change in price level from base year to current year

1 Answer

701 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. This is because the law of demand is part of the supply and demand curve - that...Read More

2 Answers

603 views
W. Kaye, Ex-Marine
Answered: May 02, 2019
D is the answer to this question. You should understand what a marginal benefit is in order to know why D is the answer. This is the benefit that you can get after you have received what you have...Read More

2 Answers

601 views
Markda John
Answered: Apr 02, 2018
A closed economy, by definition, doesn’t export or import anything. Therefore, there isn’t a reason to use the net exports part of the equation. The best answer I can give for this...Read More

2 Answers

532 views
John Smith
Answered: Dec 05, 2022
Tomatoes and blue cheese are complements.

1 Answer

461 views
John Smith
Answered: Dec 05, 2022
NAFTA imposes requirements for increase trade between countries in North America

1 Answer

360 views
I.Elizabeth
Answered: Feb 02, 2018
Comparative advantage is the ability of an entire group or a specific individual to carry out an economic cavity better and more efficiently than other activities. So basically doctors have a...Read More

2 Answers

352 views
Muhammadakram
Answered: Dec 05, 2022
Change in price level from base year to current year

1 Answer

305 views

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