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Author Question: Identify whether each of the following topics would be primarily a concern of microeconomics or ... (Read 43 times)

dejastew

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on: Jun 30, 2018
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.


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duy1981999

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Reply #1 on: Jun 30, 2018
Answer to Question 1

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

Answer to Question 2

d


dejastew

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Reply 2 on: Jun 30, 2018
Wow, this really help

juliaf

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Reply 3 on: Yesterday
Excellent

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