Microeconomics Is Concerned with the Study of

question 182

Multiple Choice

Microeconomics is concerned with the study of

• A) the effects of inflation.
• B) the effects of government spending.
• C) the effects on individual producers of higher wages paid to workers.
• D) aggregates.

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Definitions:

Accept

To receive something willingly or to agree to a proposition or offer.

Promisee

The person to whom a promise is made or directed in a contract, opposite to the promisor.

Promisor

The individual or party in a contract who makes a promise to perform an act or service.

Promisee

The party in a contract to whom a promise is made by another party (the promisor), and who stands to benefit from the fulfillment of that promise.