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 53 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
:D TYSM

ryansturges

  • Member
  • Posts: 338
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

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?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

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?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

How to create a table of values displaying commission and earnings (Question 1) How to create a table of values displaying commission and earnings (Question 1)
Economics question Economics question
this is a math question this is a math question
this is a math question this is a math question
economic question (having trouble) economic question (having trouble)
Question here Question here
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library