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A.The economy as a whole
B.Individual decisions
C.Wages
D.The allocation of scarce resources
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- 1. Classify the following topics as relating to microeconomics or macroeconomics. a. A family’s decision about how much income to save b. The effect of government regulations on auto emissions c. The impact of higher national saving on economic growth d. A firm’s decision about how many workers to hire e. The relationship between the inflation rate and changes in the quantity of money 2. Classify each of the following statements as positive or normative. Explain. a. Society faces a short-run trade-off between inflation and unemployment. b. A reduction in the rate of money growth will reduce the rate of inflation. c. The Federal Reserve should reduce the rate of money growth. d. Society ought to require welfare recipients to look for jobs. e. Lower tax rates encourage more work and more savingMacroeconomics is the study of a. the behavior of large firms in the marketplace b. the economic behavior of individual decision makers c. the behavior of the economy as a whole d. how to use the fewest natural resources to produce goods and servicesClassify the following topics as relating to microeconomics or macroeconomics. a. a family's decision about how much income to save b. the effect of government regulations on auto emissions c. the impact of higher national saving on economic growth d. a firm's decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money
- Question 5 for a, b and c. Macroeconomics.ii. Identify each of the following topics as being part of microeconomics or macroeconomics: d.factors influencing the rate of economic growth. e.factors influencing the demand for tractors. f.the impact of tax policy on national saving.Question: Which of the following is related to Microeconomics?[A] The size of national economy[B] Inflation[C] Unemployment[D] Behaviour of individual economic unitsPlease Dont use AI tool.
- Macroeconomics is the branch of economics that deals with:(A) the prices of individual goods (B) important rather than trivial issues (C) how individual markets work (D) the economy as a wholeEconomic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behaveNormative economics is: a. An investigation or statement about the norms and culture of other countries. b. An investigation or statement that attempts to describe how the world should be or ought to be. c. An investigation or statement about the positive benefits of a given country.
- Microeconomics is best described as the study of a. economy-wide phenomena. b. how households and firms make decisions and how they interact in specific markets c. the flows of dollars between households and firms. d. markets for land, labor, and capital.Which of these statements is not true? a. Macroeconomics addresses national economic issues b. Macroeconomics studies the whole country c Macroeconomics studies how one's economy relates to other economies in the world d. Microeconomics studies the whole countryIn economics, positive statements are about_______ A the way things ought to be B the way things are. C macroeconomics, not microeconomics D.microeconomics, not macroeconomics