Question

In: Economics

The national government's budget is

 Question 6

 The national government's budget is

  a microeconomics issue.

  a macroeconomics issue.


 Question 7

 A worker's decision regarding how many hours to work each week is

 a microeconomics issue.

 a macroeconomics issue.


 Question 8

 A family's decision about what to buy is

 a microeconomics issue.

 a macroeconomics issue.



Solutions

Expert Solution

6. National government's budget is a macroeconomics issue. Because macro economics deals with the behaviour of the country and how various government policies affect the economy as a whole not individual. Since national government's budget is for whole of the economy not for a individual person. So it is a macroeconomics issue.

7. A worker's decision regarding how many hours to work each week is a microeconomics issue. Because micro economics deals with the individual and firms decisions. It basically deals with the human choices and decisions. So a worker's decision regarding how many hours to work each week is a individual choice not for whole of the country thats why it is included in the microeconomics issue.

8. A family's decision about what to buy is a microeconomics issue. Because here there is human choice involve and it is not for whole of the economy. So thats why it is included in the microeconomics issue.

Rahul Sunny answered 1 year ago
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