Microeconomics and macroeconomics

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

A survey of 25 young professionals fond that they spend an average of $28 when dining out, with a standard deviation of $10. (a) Find and interpret the 95% confidence interval for the average spending. (b) Based on your answer in part (a), can you conclude statistically that the population mean is less than $30? Explain.

The American Recovery and Reinvestment Act of 2009 was Approved by the Congress. Think about and discuss the impact of Economic Stimulus Spending on the economic recovery.

President Obama has been extending Unemployment Benefits, part of Transfer Payments during the Great Recession. Think about and discuss the impacts of Automatic Stabilizers on the economy.

Recently we have a new tax code implemented that lowers the tax rates for all. (without making a political statement-if possible) What is the intended outcome of the new tax code? Is it logical that reduced taxes can cause greater spending and help pay off the national debt? Why or why not?

By using AD-AS and Phillips Curve analysis, explain what happens to output and price level as well as unemployment and inflation rates for each of the situations listed below:

a) The government reduces the tax rate for individual income in order to encourage households’ spending.
b) Central Bank increases the required reserve ratio.

The patient recovery time from a particular surgical procedure is normally distributed with a mean of 5.6 days and a standard deviation of 1.8 days.

What is the probability of spending more than 4 days in recovery? (Round your answer to four decimal places.)

I have been stuck on this question for an hour.

a) Define what are expansionary and contractionary discretionary fiscal policies.

b) Define what is automatic stabiliser in fiscal policy and provide 2 examples.

c) Consider an economy that is operating below the full-employment level of GDP, what would be the effect of an increase in government spending on agreegated demand and real GDP.

BQ(11). “Some procurement and supply managers mention that: We can’t be spending money on supplier development—we’re not in business to train suppliers and do their job for them!”

BQ(11.a). What type of barrier does this statement represent?

BQ(11.b). How would you respond to such a statement?

There are two coal-fired power plants located in the vicinity of a major metropolitan area. These power plants emit sulphur dioxide, which causes respiratory issues for the metro population as well as resulting in acidic rainfall.  The EPA has determined that the amount of sulphur dioxide emitted needs to be reduced by 180 tons. The marginal abatement cost function for the first power plant is given by MC(x) = 5x and the marginal abatement cost function for the second power plant is given by MC(y) = 7y, where x is the amount of emissions reduction done by the first power plant, and y is the amount of emissions reduction done by the second power plant.

In order to ensure that the target level of emissions reduction is achieved in the most cost-effective way, what should x be? Please round your answer to 2 decimal places.