a) the effect of the government subsidies on the agriculture industry will be part of "micro economics".
b) the effect of a change in price of one good on a related good is part of "micro economics".
c) Minimum wage on unemployment is "marco economics".
d) A firms decision about whether to continue or shut down will be "micro economics".
e) It will be macro economics.
ANSWER :
First one : Macroeconomics
Second one : Microeconomics
Third one : Macroeconomics
Fourth one : Microeconomics
Fifth one : Macroeconomics
5. Problems and Applications Q5 Classify the following topics as relating to microeconomics or macroeconomics. Topic...
Classify the following topics as relating to microeconomics or macroeconomics Topic The effect of a change in price of one good on a related good A firm's decision about whether to continue production or to shut down The effect of minimum-wage law on unemployment The relationship between the inflation rate and the unemployment rate The effect of government subsidies on the agricultural industry Microeconomics Macroeconomics
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase sales by lowering product prices. Lower tax rates encourage more work and more saving. Economic development should not take place at the expense of social Justice. Society should reduce pollution at all costs. A reduction in the rate of money growth will reduce the rate of inflation. Classify the following topics as relating to microeconomics or macroeconomics. Topic The relationship between the inflation rate...
Classify the following topics as relating to microeconomics or macroeconomics.a. a family's decision about how much income to saveb. the effect of government regulations on auto emissionsc. the impact of higher national saving on economic growthd. a firm's decision about how many workers to hiree. the relationship between the inflation rate and changes in the quantity of money
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. MicroeconomicsMacroeconomicsThe effect of an increase in the money supply on the rate of inflationThe effect of government regulation on a monopolist's production decisionsThe effect of federal government spending on the national unemployment rate
6. Microeconomics and macroeconomicsDetermine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.MicroeconomicsMacroeconomicsThe effect of an increase in the money supply on the rate of inflationThe effect of a large government budget deficit on the economy's price levelThe effect of government regulation on a monopolist's production decisions
UNIT 1 (8 marks) Classify the following as microeconomics or macroeconomics and provide a justification for your choice. (i) The effect of changes in household saving rates on the growth rate of national income. (ii) The effect of rising oil prices on employment in the airline industry. (iii) A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth. (iv)Changes in the nation’s unemployment rate over short periods of time.
Microeconomics and macroeconomics Determine whether each of the following topics would more Nkely be studied in microeconomics or macroeconomics. MicroeconomicsMacroeconomicsThe optimal interest rate for the Federal Reserve to targetThe effects of government tax policy on long-term economic growth The effect of government regulation on a monopolist's production decisions
6. Problems and Applications Q6 Classify each of the following statements as positive or normative. Statement The government must take action to reduce the unemployment rate. Society faces a short-run trade-off between inflation and unemployment. A reduction in the rate of money growth will reduce the rate of inflation. Limiting unempioyment benefits to only two years increases the incentive to look for jobs The government should provide basic healthcare to all citizens. Positive Normative Grade It Now Save &
6. Problems and Applications Q6 Classify each of the following statements as positive or normative. Positive Normative Statement A reduction in the rate of money growth will reduce the rate of inflation. Lower tax rates encourage more work and more saving Policy makers face trade-off between equality and efficlency. The government should limit unemployment benefits to last for only two years. Economic development should not take place at the expense of social justice.
6. Problems and Applications Q6 Classify each of the following statements as positive or normative. Positive Normative Statement A reduction in the rate of money growth will reduce the rate of inflation. Lower tax rates encourage more work and more saving Policy makers face trade-off between equality and efficlency. The government should limit unemployment benefits to last for only two years. Economic development should not take place at the expense of social justice.