Identify 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 GDP
Q: Which of the following are myths about the U.S. economy? Check all that apply. A. The United States…
A: The tax revenue in America is around 24% of GDP and America is the largest consumer market.
Q: According to the article, When Reality Bites, which demographic is most affected by economic…
A: Young generation is worst affected by economic downturn such as recessions. There are not enough…
Q: What causes rates of unemployment in macroeconomics?
A: Unemployment is a situation in which a person who is willing and able (capable) to work do not find…
Q: In 1776, Adam Smith ([1776] 1936) published his treatise, An Inquiry into Nature and Causes of the…
A: Economic development is the process whereby simple low income national economics are transformed…
Q: A CNN announcer reports that the unemployment rate is 6.7%. This report is most likely prepared by a…
A: Study of economics have two broad classification: micro economics and macro economics.
Q: All of the following will cause unemployment except: a.government policies b.stable prices…
A: Unemployment:- Unemployment refers to people who are qualified for a job and searching for a job and…
Q: Covid-19 has a huge impact on aggregate economic activities, please discuss this impact and explain…
A: The Covid-19 has led to the fall in the aggregate demand significantly. It has adversely impacted…
Q: You are the chair of the Malaysian Economic Council. There has been an extremely hot weather due to…
A: In Keynesian economics, an economy is said to be operating at a long-run equilibrium at a output…
Q: Classify the following topics as related to micro or macroeconomics: A family's decision on how…
A: Definitions- Microeconomics is a branch of economics that studies the behaviour of individuals or…
Q: Microeconomics differs from macroeconomics in that microeconomics focuses on: government…
A: Economics is the study of how people make choices in the situation of scarcity. The people make…
Q: Which of the following questions are macroeconomic questions? A. What factors determine the…
A: Meaning of Economics: The term economics refers to the situation under which there remain…
Q: Consider the neo-classical approach to macroeconomics. What does that theory suggest will happen…
A: A recession occurs when the economy's actual output is exceeded by its potential output. The…
Q: As the unemployment rate rises, A. the rate of voluntary turnover increases. B. early retirement…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Clasify each of the following statements as positive,or normative.Explain.a.Society faces a…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: (a) Susan and Patrick (Discovery Tours) are keen to progress with their idea and have begun to look…
A: Business tourism, often known as business travel, is a subset of ordinary tourism that is more…
Q: The Philips curve shows that with economic growth comes inflation but in short run, it should lead…
A: Philips curve: It refers to the curve which shows the relationship between inflation and…
Q: The change in the business cycles can impact how the economy is operating. Explain how an increase…
A: The business cycle indicates the fluctuations in an economy, the economic activities will not move…
Q: __________ is the reason for central problems of an economy. a. Unemployment b. Surplus of resources…
A: Scarce Resources: The scarce resources are those resources whose supply is limited against its…
Q: Look up data on the current unemployment rate, inflation rate, and/or GDP growth rate. Based on the…
A: GDP is growing at the rate of 2% in the United States. This means that national income is not…
Q: Microeconomics is a brach of economics that studies: a. The determination of national income…
A: Microeconomics is a branch of economics that studies the behaviour of individual economic units such…
Q: In the long run, as a result of the increase in government spending, the price level , the quantity…
A: Answer: Introduction: Due to an increase in government spending demand will increase. As a result,…
Q: In 1776, Adam Smith ([1776] 1936) published his treatise, An Inquiry into Nature and Causes of the…
A: The activities or policies that lead to improving the quality and well-being of the economy as a…
Q: Which phase of the business cycle can describe the unemployment rate at its lowest and inflation is…
A: Business cycles illustrates the economy's ups and down over a period of time. It has four phases,…
Q: Which economists contributed a model of the whole economy in which there would generally, be…
A: In an economy, it can be seen that the approaches to analyze and deal with the economic issues are…
Q: The basic difference between macroeconomics and microeconomics is: Group of answer choices…
A:
Q: A complete macroeconomic model would not like include the following market A- labor B- capital C-…
A: Underground market is also known as black market i.e. illegal business of buying and selling of…
Q: Using examples, explain six (6) implications of an increasing unemployment rate to an economy?
A: The unemployment rate is an important indicator of economic health. A decrease in the unemployment…
Q: Business cycles can wreak havoc in the economy and create real economic hardship. Remember, the…
A: In economics, business cycle is defined as the cyclical upswings and down swings of major…
Q: Discuss the main contributions of 1 economist that influenced by John Maynard Keynes (Keynesianism,…
A: Joan Violet Robinson was a Keynesian economist who was undoubtedly the only great female economist…
Q: Comment on the effects that being unemployed have on an individual.
A: Unemployment is a situation where individuals are willing to work, they are finding jobs, but still,…
Q: Why do economists (and politicians) focus on only a few measures - GDP, inflation, and unemployment…
A: Nominal GDP is a measure of output of a country as it measures the total value of services and goods…
Q: A broader definition of macroeconomics and its relationship with the level of production,…
A: The macroeconomics is the broader field of study in economics which deals with the entire market…
Q: Suppose the unemployment rate in Economia is 8%, and there are 2 million unemployed persons in the…
A: Answer : 25
Q: During the severe economic downturn during the great recession, the federal government provided an…
A: Here, it is given that the government provides aids to the people who claimed unemployment during…
Q: Using the ADAS diagram, show what happens to inflation, unemployment and GDP, if there is an…
A: Aggregate demand (AD) is the sum total amount of commodities and services demanded in an economy at…
Q: Microeconomics deals with __________. a. Economy as a whole b. Aggregate demand and supply c. Income…
A: Aggregate demand is the total amount of goods and services that all the consumers in the economy…
Q: When the labour market is in equilibrium, it means that the number of jobs in the economy is equal…
A: Answer: Even if the labor market is in equilibrium there exists some level of unemployment. It is…
Q: Define the three macroeconomic variables (inflation, unemployment, growth)
A: 1. Inflation: Inflation is defined as the general rise in prices of an economy over a given period…
Q: Macroeconomics is concerned with: only long-run trends in economic activity. only short-run…
A: Correct: both long-run trends and short-term fluctuations in economic activity.
Q: A 5 percent fall in the unemployment rate will lead to a 2 percent increase in the inflation rate"…
A: Positive economics are those statements that are based on facts, actual data, and empirical…
Q: In your own words , summarize the main idea of 4 selected macroeconomic schools of thoughts , to…
A: Classical school of thought According to the classical school of economics, the individual interest…
Q: The government of Prime Minister Shinzo Abe said it would offer some $15 billion in financing for…
A: 1. Japan being the third largest GDP earner,plan to boost economy amidst corona virus pandemic by…
Q: Macroeconomists studies all of the following issues except: a. The determinants of inflation b. The…
A: The subject of economics can broadly be categorized as Macroeconomics and Microeconomics on the…
Q: Classify each of the following statements as positive or normative. Explain. Society faces a…
A: Positive statements are those statements that can be tested with empirical evidence and those…
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- Question: Which among the following is part of Macroeconomics?[A] Investment of households[B] Wages of a person[C] How to produce good[D] Aggregate economic activityPlease Dont use AI tool.Question: Which of the following is related to Microeconomics?[A] The size of national economy[B] Inflation[C] Unemployment[D] Behaviour of individual economic unitsPlease Dont use AI tool.Classify the following topics as telating to microeconomics or macroeconomics and briefly explain why? a. A family 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 firms decision about how many workers to hire. e. The relationship between the inflation ratr and changes in quantity of money.
- Explain the importance of the study of "macroeconomics ?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 deficitWhat are the important problems that constitute the subject matter of macroeconomics? Briefly explain them.
- define macro or micro economics ?Q2: Micro VS Macroeconomics? Classify the following questions as Microeconomics or Macroeconomics and provide a justification for your choice. a) How will the market for melons be affected after Hurricane Dean? b) How much will the Trinidadian economy grow this year? c) What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla? d) What will the inflation rate be for Belize?Classify 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