Macroeconomics would be concerned with a) the effects of wage increases on steel manufacturers. b)the effects of a tax on beer. c)the effects on individual consumers of changes in the price of gasoline for a business. d)implications of changes in unemployment and inflation
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a) the effects of wage increases on steel manufacturers.
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b)the effects of a tax on beer. |
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c)the effects on individual consumers of changes in the price of gasoline for a business. |
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d)implications of changes in |
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- Tourism Economics focuses on understanding the economic impacts of tourism on a destination's economy. A key component of this field is the analysis of how tourism affects local employment. In many destinations, tourism acts as a major employment driver, offering various job opportunities in sectors such as hotels, restaurants, transportation, and entertainment. For instance, a coastal town that becomes a popular tourist destination might see a surge in employment in these sectors. This economic impact is significant as it: A) Decreases overall employment in the town B) Increases unemployment rates C) Contributes to job creation and economic growth D) Has no effect on the local job market*What is a marginal change? Question 5 options: a long-term trend a large, significant adjustment a small incremental adjustment a change for the worse, and so is usually short termwhat is the terminology for the definition below? Unemployment caused by annual changes in the weather or other conditions that happen at certain times of the year
- Tourism Economics also explores the concept of seasonality, which refers to the fluctuating demand for tourism services throughout the year. Many destinations experience peak and off-peak seasons, impacting businesses' revenue and employment levels. For instance, a ski resort may see high demand in winter but low demand in summer. This seasonality can create challenges for sustainable economic development in tourism-dependent regions. To address these challenges, destinations often: A) Close during off-peak seasons B) Develop alternative tourism attractions for different seasons C) Ignore the impact of seasonality D) Focus only on peak season revenueWhich of the following areas of study typifies microeconomics as opposed to macro-economics? a. The impact of minimum-wage laws on employment in the fast food industry b. The effect of changes in household saving rates on the growth rate of national income c. The effect of an increasing inflation rate on national living standards d. The effect of an increase in the minimum wage on an economy’s overall rate of unemploymentIn the analysis of any economic phenomenon, a)spatio-temporal perspective is needed. b)there is a need for a perspective that takes into account the whole and piece relationship. c)there is a need for a historical perspective d)there is a need for static analysis with only one main determinant factor.
- You have been tasked with developing a research report based on an economy of your choice anywhere in the world. The economy you select should be a growing economy or an economy that has experienced growth at some stage in its development. Present the finding of your research under the following headings. DETERMINANTS OF DEMAND Identification and in-depth discussion of the determinants of demand that have led to an increase in market demand in one of the critical industries in your chosen economy. (Make reasonable assumptions where necessary). (250 - 300 words)Classify the following topics as related to micro or macroeconomics: A family's decision on how much to spend on food. The effect of government regulations on auto emissions. The impact of higher public savings on economic growth. A monopolists decision about how much unit to sell. The relationship between inflation rate and unemployment rate._________ is considered as a part of microeconomic analysis. a. Analyzing the problem of inflation and unemployment b. Investigating the behavior of a consumer c. Estimation of gross domestic product of a country d. Studying the determination of equilibrium price level
- Variables typically included in a multivariate demand function (other than the price and quantity of the item the demand function represents) are consumer tastes and preferences, the number of buyers, spendable (disposable) income, prices of substitute goods, prices of complementary goods, advertising expenditures, weather, and expectations. Recalling that the price of the item being considered is placed on the vertical axis, and the quantity on the horizontal axis, the other variables are termed demand shifters. Please answer the following questions about the affect changes in other variables might have on the demand for the item. These changes will either cause demand to increase (shift right) or decrease (shift left). Use either word as applicable, for the short answer. If the price of a good increases because the demand for it increases, What would you expect the demand for its complement to do? If the demand for coffee beans increases, then what is likely to happen…Identify the word, concept, or expression most closely related to the word, concept, or expression below: 1. Short-run effect of an increased number of Canadians vacationing and shopping at home. Choose one of the following: product prices fall and output rises, product prices fall and output falls, product prices rise and output falls, product prices rise and output rises, prices remain unchanged and output rises, product rises and output remains unchanged 2. Short-run effect of increased government spending on infrastructure. Choose one of the following: product prices fall and output rises, product prices fall and output falls, product prices rise and output falls, product prices rise and output rises, prices remain unchanged and output rises, product rises and output remains unchanged 3. Short-run effect of a large increase in commodity (input) prices for businesses. Choose one of the following: product prices fall and output rises, product prices fall and output falls, product…The application of data analytics to microeconomics could a) improve a firm's decision-making as it relates to their competitors b) provide insights to global economic policy c) produce a forecast of national GDP d) none of the above