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5. Microeconomics and macroeconomics Determine whether each of the following topics would more likely be studied...

5. Microeconomics and macroeconomics

Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.

Microeconomics

Macroeconomics
The effect of a cigarette tax on the quantity of cigarettes sold
The effect of federal government spending on the national unemployment rate
A consumer's optimal choice when buying a flat-screen TV

Solutions

Expert Solution

Answer;

Microeconomics is the study of individual firms,individual business decisions,particular markets etc.

Macoeconomics is the study of economy as a whole. It deals with aggregate variables, such as aggregate demand,national output and inflation .

The effect of a cigarette tax on the quantity of cigarettes sold Microeconomics
The effect of federal government spending on the national unemployment rate Macroeconomics
A consumer's optimal choice when buying a flat-screen TV Microeconomics

Rahul Sunny answered 2 years ago
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