Suppose "expectations increase dramatically" (too much "buy now" behavior) in the mini-economy and the resulting demand shift causes the average price to rise from $2.20 to $2.40 in the circular flow. in the ppf model then, the equilibrium would move from point s to point

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

Summarize the specific methods used by interest groups in order to influence governmental decisions making in all three branches of government. provide at least two examples from each branch.