Question 1
Macroeconomics is best described as the study of
◦ very large issues.
◦ the choices made by individual households, firms, and governments.
◦ the nation's economy as a whole.
◦ the relationship between inflation and wage inequality.
Question 2
Which of the following is a microeconomics question?
◦ Is it sensible for a government to subsidize tobacco production?
◦ Why do some countries grow faster than others?
◦ Should Congress and the president take action to reduce global warming?
◦ Should the government attempt to influence the interest rate to lower inflation?