This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Is inflation a macroeconomic or a microeconomic question? Why? What will be an ideal ... (Read 119 times)

penguins

  • Hero Member
  • *****
  • Posts: 903
on: Jun 29, 2018
Is inflation a macroeconomic or a microeconomic question? Why?
 
  What will be an ideal response?

Question 2

The fact that when the price of a good goes up, people buy less of it is known as the
 
  A) law of supply.
  B) law of demand.
  C) concept of market equilibrium.
  D) need for inferior goods.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macybarnes

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 29, 2018
Answer to Question 1

Inflation is a macroeconomic question because it deals with an economy-wide phenomenon. The price increase of a specific product, such as gasoline, would be a microeconomic matter. Since inflation deals with prices in the economy as a whole, it is a macroeconomic concern.

Answer to Question 2

B


penguins

  • Member
  • Posts: 903
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Molecular Genetics DNA picture matching question Molecular Genetics DNA picture matching question
Calculus homework question due Calculus homework question due
Question 37 Part 2 Question 37 Part 2
economic question economic question
economic question economic question
Hi i really need help clarifying this question T^T Hi i really need help clarifying this question T^T
Video: Sperm Formation

For a complete list of videos, visit our video library