Identify whether each of the following topics would be primarily ...

[dejastew]

Identify whether each of the following topics would be primarily a concern of microeconomics or macroeconomics:
 a. The decision by a household to eat in rather than go out for dinner this evening.
  b. The unemployment rate increased from 4.5 to 4.8.
  c. A decision by the Federal Reserve Bank to decrease the supply of money in the economy.
  d. The general level of prices increased by 5 last year.
  e. The price of bicycles increased by 30 last year.
  f. The family restaurant chain closed down after losing much of its customer base to fast-food competitors over the last few years.

Question 2

GDP is:
 a. the total value of all consumer expenditures within a given period.
 b. national income after taxes.
 c. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period.
  d. the value of all final goods and services produced domestically within a given period.

[duy1981999]

Answer to Question 1

Microeconomic topics: a, e, and f
Macroeconomic topics: b, c, and d

Answer to Question 2

d

[dejastew]

Thanks for the timely response, appreciate it

[Joy Chen]

Excellent