Microeconomics Is the Study of

question 179

Multiple Choice

Microeconomics is the study of

• A)the behavior of the economy as a whole.
• B)how rising prices affect the level of employment in the economy.
• C)how individuals and firms make decisions.
• D)the effect that money has in the economic system.

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Definitions:

Nominal Charge

A minimal or symbolic fee often charged to meet legal requirements rather than to cover the cost of services.

Consumption

The use of goods and services by households.

Restricted Fund Method

An accounting technique for managing funds that have specific purposes or restrictions placed upon their use by donors.

Operating Fund

A fund used to cover the day-to-day operational expenses of an organization.