Homework Answers
Question1
Answer: A microeconomics issue
The microeconomics studies at micro level. It studies the behavior of a person or a firm in taking decision about consumption, production, price, etc. Thus the price charged for an automobile is a microeconomics issue.
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Question2
Answer: A macroeconomics issue.
The macroeconomics studies the economy as a whole. When the tax policy is taken, it affects the consumption spending of all the consumers in an economy. So measuring the impact of tax policies on consumer spending in the economy is a macroeconomics issue.
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The price charged for an automobile is a microeconomics issue. a macroeconomics issue. 111 Question 2...
4. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following...
4. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following is primarily a macroeconomic issue or a microeconomic issue (answer only). A) What price to charge for a TV B) Tax reform on total consumer spending in the economy C) Your family's decisions about what to purchase D) A contractor's decision regarding how much to work each week E) Government policy to increase employment
1. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following...
1. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following is primarily a macroeconomic issue or a microeconomic issue (answer only). A) What price to charge for a TV B) Tax reform on total consumer spending in the economy C) Your family's decisions about what to purchase D) A contractor's decision regarding how much to work each week E) Government policy to increase employment 2. What is the difference between a positive economic statement...
. Macroeconomics includes the study of a. individual markets. b. the behavior of the firm. c....
. Macroeconomics includes the study of a. individual markets. b. the behavior of the firm. c. the behavior of the consumer. d. e. changes in national income. changes in commodity prices. REF: How Is Macroeconomics Different from Microeconomics? 2. Which of the following is a topic of microeconomics? a. the level of national income b. the level of employment in the country c. the prices of all goods in the country d. the profit of firms in the banking industry...
Macroeconomics (consumption, investment and loanable funds) question. The Current U.S. government spending is $4.746 trillion. That's...
Macroeconomics (consumption, investment and loanable funds) question. The Current U.S. government spending is $4.746 trillion. That's the federal budget for fiscal year 2020 covering October 1, 2019, to September 30, 2020. It's 21% of gross domestic product. That means that Government Spending in the United States has increased under the current U.S. Administration. Additionally, last year the Congress passed a tax reform that, among other effects, cut payroll taxes: i) Can you establish the macroeconomics effects of these policies on...
Hint Check Answer <Question 1 of 10 > Macroeconomics: The Big Picture - End of Chapter...
Hint Check Answer <Question 1 of 10 > Macroeconomics: The Big Picture - End of Chapter Problems Which of the following questions are relevant to the study of macroeconomics, and which are relevant to the study of microeconomics? Macroeconomics Microeconomics Answer Bank f. What is the relationship between a nation's unemployment rate and its inflation rate? e. What will happen to Canadian exports as the dollar becomes less expensive in terms of other currencies? b. What will happen to spending...
Our week one discussion is primarily focused on two introductions: macroeconomicsand microeconomics. Macroeconomics is focused on...
Our week one discussion is primarily focused on two introductions: macroeconomicsand microeconomics. Macroeconomics is focused on the overall level of economic changes, i.e., changes in unemployment and monetary changes (currency exchange rates). There are many macroeconomic events that greatly influence a manager’s decisions about production and pricing; yet many of these events are beyond the control of management. As such, for your first discussion assignment please complete the following task by Wednesdayand then respond to at least two of your...
Question 17 Which of the following is not a topic studied within microeconomics? Select the correct...
Question 17 Which of the following is not a topic studied within microeconomics? Select the correct answer below: the price of a specific consumer good a firm's decision to hire new employees government deficits household spending Content attribution Previous - 2 hou Question 18 is a good for which demand increases when income increases, and demand decreases when income A(n) decreases Select the correct answer below substitute good consumer good normal good inferior good FEEDBACK
QUESTION 21 Assume there is a price floor imposed on a good which is above the...
QUESTION 21 Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus? a. An increase in demand. b. A decrease in demand. c. An increase in supply. d. Any of the above. QUESTION 22 Economic growth can be illustrated by: a. an inward shift of the production possibilities curve. b. a movement along the production possibilities curve. a movement from a point...
Question 19 O Mark this question Which of the following would a student of macroeconomics NOT...
Question 19 O Mark this question Which of the following would a student of macroeconomics NOT study? O How the price of apples affects the market for oranges O How governments can act to alleviate a recession O Changes in the overall price level in an economy over time O The percentage of a nation's labor force that is employed
In this question, we study the consequences of trade policies on the automobile market. We assume...
In this question, we study the consequences of trade policies on
the automobile market. We assume that cars are all similar on the
market (in other words, a car is a homogeneous good). The supply of
Japanese cars is perfectly elastic at a price pJ = 20. Moreover,
the supply of cars made in the US is QSus = p − 15 for any price
larger than 15. Finally, the demand for cars from American
consumers is QD = 30...
. Macroeconomics includes the study of a. individual markets. b. the behavior of the firm. c. the behavior of the consumer. d. e. changes in national income. changes in commodity prices. REF: How Is Macroeconomics Different from Microeconomics? 2. Which of the following is a topic of microeconomics? a. the level of national income b. the level of employment in the country c. the prices of all goods in the country d. the profit of firms in the banking industry...
Hint Check Answer <Question 1 of 10 > Macroeconomics: The Big Picture - End of Chapter Problems Which of the following questions are relevant to the study of macroeconomics, and which are relevant to the study of microeconomics? Macroeconomics Microeconomics Answer Bank f. What is the relationship between a nation's unemployment rate and its inflation rate? e. What will happen to Canadian exports as the dollar becomes less expensive in terms of other currencies? b. What will happen to spending...
Question 17 Which of the following is not a topic studied within microeconomics? Select the correct answer below: the price of a specific consumer good a firm's decision to hire new employees government deficits household spending Content attribution Previous - 2 hou Question 18 is a good for which demand increases when income increases, and demand decreases when income A(n) decreases Select the correct answer below substitute good consumer good normal good inferior good FEEDBACK
QUESTION 21 Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus? a. An increase in demand. b. A decrease in demand. c. An increase in supply. d. Any of the above. QUESTION 22 Economic growth can be illustrated by: a. an inward shift of the production possibilities curve. b. a movement along the production possibilities curve. a movement from a point...
Question 19 O Mark this question Which of the following would a student of macroeconomics NOT study? O How the price of apples affects the market for oranges O How governments can act to alleviate a recession O Changes in the overall price level in an economy over time O The percentage of a nation's labor force that is employed
In this question, we study the consequences of trade policies on
the automobile market. We assume that cars are all similar on the
market (in other words, a car is a homogeneous good). The supply of
Japanese cars is perfectly elastic at a price pJ = 20. Moreover,
the supply of cars made in the US is QSus = p − 15 for any price
larger than 15. Finally, the demand for cars from American
consumers is QD = 30...
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