1. 2. Explain why macroeconomic analysis is particularly concerned with issues of economic growth, unemployment, inflation, and balance of payments? "Economic growth does not necessarily reduce the number of unemployed workers". Explain this statement.
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- Why we study macroeconomics? Discuss the origins of macroeconomics. Also explain the reasons why the classical theories of economic system failed at some pointIdentify the questions that are answered by Macroeconomics from the following. a. All of the options b. What is the nation’s rate of unemployment c. What is the nation’s rate of inflation d. What is the nation’s level of GDPClassify the following topics as relating to microeconomics or macroeconomics. a. a family's decision about how much income to save b. the effect of government regulations on auto emissions c. the impact of higher national saving on economic growth d. a firm's decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money
- For the past several months, per capita output has grown more and more slowly, and unemployment has fallen, but both trends appear to have leveled off. Where in the business cycle is the economy? A.At a peak B.In a recession C.At a trough D.In an expansion Macroeconomics focuses on: A.The economy as a whole B.Individual decisions C.Wages D.The allocation of scarce resourcesDescribe the most valuable theory/concept/ model that you learned from macroeconomics class and explain whyA broader definition of macroeconomics and its relationship with the level of production, unemployment and inflation of a country.
- With the aid of the diagram, describe the four major sectors in an economy according to the macroeconomic point of view.Why isn’t money considered capital in economics? Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation’s inflation rate to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy? Explain the importance of the ceteris paribus assumption for an economic model. Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used? Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…Explain the importance of the study of "macroeconomics ?
- Output measured through a macroeconomic lens can be explained as: A) Production of the entire economy. B)Production in a monopoly. C)Production of one worker. D)Production of a business.Why we study microeconomics ? Discuss the origins of macroeconomics . Also explain the reasons why classical theories of economic system failed at some points ?classify the following as macroeconomics or micro economics and provide a justification for your choice from the list below: a) Macro, examining one sector in economy b) Macro, examining one firm in economy, c) Macro, examining entire economy, d) Micro, examining one specific firm, e)Micro, examing one individual f)Micro, examining one sector of economy 1. a firms decision abouthow many workers to hire 2.Susans decisision about how much income to save 3.The statistical institution in your country projects a 22.5% increase in the number of workers in the healthcare industry from 2008 to 2018 4. Parliament is debating the option of implementing a value added tax (vat) as a means to cut the government deficit