Question

Which of the following statements most likely lies within the realm of macroeconomics? An increase in the price of automobiles will lead to a decrease in the quantity of automobiles demanded. Due to process innovations in computer chup manufacturing the market supply of computers increased Due to an economic recession, manufacturing firms began implementing layoffs of their workforces Anticipating that the benefits would outweigh costs involved an undergraduate student purchases the course textbook Question 17 (1 point) The fundamental economic problem is poverty wnemployment scarcity O inflation Question 18 (1 point) Which of the following is an example of a normative statement? Higher unemployment rates are common among young people O Young people should learn how to prepare their own taxes Auto insurance rates are generally lower for younger Persons under the age of 30 watch more movies than those over the age of 30

Answer 1

a) "C"

Due to recession the firms are laying of employees" it is part of the macro economics.

b) "C"

Scarcity is the fundamental economic problem.

c) "B"

Young people should learn how to do their own taxes is a normative statement.