Exploring Economics
8th Edition
ISBN: 9781544336329
Author: Robert L. Sexton
Publisher: SAGE Publications, Inc
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Question
Chapter 1, Problem 3P
To determine
(a)
The branch of economics that covers the effect of an increase in supply of lumber on the home building industry.
To determine
(b)
The branch of economics that covers the changes in the
To determine
(c)
The branch of economics that covers the changes in the inflation rate.
To determine
(d)
The branch of economics that covers the changes in the country's
To determine
(e)
The branch of economics that covers the price of concert tickets.
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Classify the following topics as relating to microeconomics or macroeconomics.
a family’s decision about how much income to save
the effect of government regulations on auto emissions
the impact of higher national saving on economic growth
a firm’s decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money.
Which of the following is Microeconomics
concerned with?
A. The size of national output
B. The level of employment
c. Changes in general level of prices
D.
None of the above
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
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