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 gasoline additive on the price of corn tortillas.

E. The impact of increased government regulation of auto emissions on the production decisions made by General Motors Corporation.

F. The impact of the signing of the Free Trade of the Americas agreement on US gross domestic product (GDP).

G. The impact of the signing of the Free Trade of the Americas agreement on American Tomato farmers.

Solutions

Expert Solution

a) As the effect is on the whole of the GDP it will be part of the macro economics.

b) It is only affecting a single industry, it will be part of micro economics.

c) As it is affecting all the unemployment and interest rate it will be part of the macro.

d) It is concerned with the single market in the economy it will be micro.

e) it is again only concerning a single market that is automobile, it will be micro

f) It affects the whole of the GDP,it will be part of the macro

g) It concerns just one industry that is tomato, it will be part of micro.

(anything in the market that only effects the single market or a single industry will be part of the micro, and anything that affects the whole market in the economy like employment, GDP, interest rate will be part of macro. )

Rahul Sunny answered 1 year ago

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