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Author Question: Provide two examples of economics being used as a tool by each of a student, a business, and a ... (Read 83 times)

haleyc112

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on: Jun 29, 2018
Provide two examples of economics being used as a tool by each of a student, a business, and a government. Classify your examples as dealing with microeconomic topics and macroeconomic topics.
 
  What will be an ideal response?

Question 2

Which of the following would decrease the value of the dollar in the long run?
 
  A) an increase in U.S. tariffs on foreign goods
  B) a decrease in the demand for American goods relative to goods from other countries
  C) a decrease in inflation in the United States relative to other countries
  D) a decrease in the supply of dollars on the foreign exchange market


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mistyjohnson

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Students might answer that they use economics as a tool when they budget their student aid and when they decided which college to at-tend based on the costs of their options. Both instances deal with micro-economics. A business uses economics as a tool when it decides the price it charges for its product and the salaries it pays its managers. Both instances are microeconomic examples. The government use economics as a tool when it decides whether to increase taxes on cigarettes or lower the interest rate. The first example is microeconomic in nature and the second involves macroeconomics.

Answer to Question 2

B


haleyc112

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Reply #2 on: Jun 29, 2018
Thank you :)


mistyjohnson

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Reply #3 on: Jun 29, 2018
Happy to help you


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