Explain whether each of the following is an example of a macroeconomic concern or a microeconomic concern. a. In 2018, le

Explain whether each of the following is an example of a macroeconomic concern or a microeconomic concern.

a. In 2018, legislators in Japan’s lower house passed an integrated resort (IR) implementation bill to legalize casinos.

b. In 2015, the Spanish government reduced income tax rates for every tax bracket by 1 to 2 percentage points.

c. Goldman Sachs increased its paid parenting leave for non-primary parents from two weeks to four weeks.

d. The British government announced that, starting April 2018, all workers of 25 years and older are legally entitled to at least £7.83 per hour.

Expert Solution

(a) This is an example of a microeconomic concern since it addresses a potential change in operations for a particular industry.

(b) This is an example of a macroeconomic concern since it addresses a potential change in marginal tax rates that would affect the entire nation.

(c) This is an example of a microeconomic concern since it addresses wages for a specific firm in a specific industry.

(d) This is an example of a macroeconomic concern since it addresses a change in unemployment benefits, which affects the whole economy.

Junaid answered 8 months ago

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