Homework Answers
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
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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.
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