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 106 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
Wow, this really help

cam1229

  • Member
  • Posts: 329
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

A question for grade 11 math A question for grade 11 math
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
economic question economic question
economic question economic question
Eco question 2 Eco question 2
Question about Resultant of gravitational force? Question about Resultant of gravitational force?
Video: Blood Test Basics

For a complete list of videos, visit our video library