chapter 1.pdf 10) Microeconomics focuses on all of the following EXCEPT 10) A) t
ID: 1115352 • Letter: C
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chapter 1.pdf 10) Microeconomics focuses on all of the following EXCEPT 10) A) the effect of increasing the money supply on inflation B) the purchasing decisions that an individual consumer makes C) the effect of an increase in the tax on digarettes on cigarette sales D) the hiring decisions that a business makes 11) In broad terms the difference between microeconomics and macroeconomics is that A) microeconomics studies the effects of government taves on the national unemployment B) macroeconomics studies the effects of government regulation and taves on the priae of individual goods and services whereas microeconomics does not. C) they use different sets of tools and ideas D) microeconomics studies decisions of individual people and firms and macroeconomic studies the entire national economy 12) Studying the determination of prices in individual markets is primarily a concern of 12) A) negative economics C) positive economics D) macroeconomics 13) The analysis of the behavior of individual decision-making units is the delinition od 13) A) microeconomics C) positive economics B) macroeconomics D) normative economics 14) Which of the following topics would be studied in a microeconomics couse 4) A) how a tax rate increase will impact total production B) comparing inélation rates across countries C) how a trade agreement between the United States and Medico affects both natione unemployment rates D) how rent ceilings impact the supply of apartments 15) Which of the following is a macroeconoenic issue? 15) A) how federal govemment budget deficits affect interest rates B) the cause od a dedline in the price of peanut batter C) what determines the amount a firm will produce D) how a rise in the peice of sugar affects the market for sodas 16) Which of the following is an issue in macroeconomics? 6) A) the purchasing decisions that an individual consumer makes B) the effect of an increase in the tax on cigarettes on cigarette sales C) the hiring decisions that a business makes D) the effect of increasing the money supply on inflation 17) Macroeconomic topics include 17 A) the impact ol govermment regulation of markets B) total, nationwide employment C)studying what factors influence the prlce and quantity of automobiles D) studying the determination of wages and production costs in the software industry 18) Macroeconomics is the branch of economics that studies 18) A) prices of individual goods C) the way individual markets work B) important, as opposed to trivial issaes D) te economy a wholeExplanation / Answer
10 answer is A. , the effect of increasing money supply is a macro concept.We study the economy as a whole in macro economics.
11 answer is D. We study the individual units like demand, supply, consumption function etc in micro economics and we study the income and output determination under macro economics. Macro Economics is said to be a study like bird's eye view and micro econmics is of worm's eye view.
12 answer B. All the individual studies we study under micro economics. As the study is on individual market price it comes under micro economics.
13 answer A. As it deals with decision making of individual units it is micro economics in nature.
14 answer is D.the rent ceiling and supply of economics is a micro conce[pt so the answer is D.
15 answer is A.the fiscal and monetary policies are studied under macro economics. So the study on how federal government budget deficit affects the ineterest rate is a macro concept.
16 answer is D.The effect of increasing the money supply on inflation is a macro economic concern. Money supply is a variable in macro economics as it deals with an economy as a whole. So the answer is D.
17 answer is B. Being a study of economy as a whole the total and nationwide unemployement is a macro economic concern.
18 answer D. Macro economics is a birsd's eye view. It studies the economy as a whole.
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