In: Economics
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.
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.