Microeconomics is the study of how individuals and firms make decisions in specific markets, whereas macroeconomics...

Microeconomics is the study of how individuals and firms make decisions in specific markets, whereas macroeconomics is the study of the economy as a whole. Which of the answer choices is a topic in microeconomics?

A. The factors influencing the rate of growth of U.S. gross domestic product.

B. The effect of a tax on the production of coal in Philippi, West Virginia.

C. The impact of the wars in Iraq and Afghanistan on U.S. government spending.

D. The degree to which monetary policy influences the unemployment rate in the U.S.

Solutions

Expert Solution

Option A is related to macroeconomics because GDP growth occurs for a economy as a whole.

Option B is related to microeconomics because it is related to specfic segment of a market or individual firm..

Option C is related to macroeconomics because change in governemnt spending is related to economy as a whole

Option D is related to macroeconomics because change in monetary policy is applied to the whole economy.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

The study of Microeconomics involves the study of how markets work to allocate resources. What specific...

The study of Microeconomics involves the study of how markets work to allocate resources. What specific theory (model) do economists use to determine how much of a good or service is provided and at what price? Applying this model, show the effects of government interventions in a market to raise prices (set a price floor) and lower prices (set a price ceiling). Provide specific examples and illustrate your points.

A major difference between microeconomics and macroeconomics is: microeconomics is more concerned with individual markets, while...

A major difference between microeconomics and macroeconomics is: microeconomics is more concerned with individual markets, while macroeconomics is concerned with economies as a whole. macroeconomics is more concerned with individual markets, while microeconomics is concerned with economies as a whole. microeconomics is more based on normative analysis while macroeconomics is based on positive analysis. there is no major difference between microeconomics and macroeconomics.

3) How does the study of microeconomics differ from that of macroeconomics? Give one example each...

3) How does the study of microeconomics differ from that of macroeconomics? Give one example each of an issue studied in microeconomics and in macroeconomics.

What is the study of economics about? How is microeconomics different from macroeconomics? URGENT: NEED ANSWER...

What is the study of economics about? How is microeconomics different from macroeconomics? URGENT: NEED ANSWER ASAP PLEASE RESPOND WITH COPY AND PASTE, NOT ATTACHMENT USE ORIGINAL CONTENT NOT USED BEFORE ON CHEGG PLEASE ANSWER THROUGHLY TO ALL ANSWER TO BEST ABILITES ORIGINAL SOURCE NEVER USED BEFORE!!!

Briefly describe how Macroeconomics differs from Microeconomics.

What is the key term in the definition of economics? Why study both macroeconomics and microeconomics?

What is the key term in the definition of economics? Why study both macroeconomics and microeconomics? Give examples.

Identify each of the following as topics of study in either microeconomics or macroeconomics: *please explain...

Identify each of the following as topics of study in either microeconomics or macroeconomics: *please explain each one so I understand why A. The impact of the Obama economic stimulus plan of Gross Domestic Products (GDP). B. The impact of the Obama economic stimulus plan on the solar power industry. C. The impact of the Obama economic stimulus plan on the interest rates and unemployment in the aggregate US economy. D. The effect of increased use of ethanol as a...

Question