The first question shows the type of economy in which each of the following economic activities can be dealt with, with an explanation of the reason: Economic Activity Microeconomics Macroeconomics Study the volume of demand for dairy products in the Kingdom Rising prices of building materials in the economy The state is interested in the tourism sector Increasing employee salaries and establishing schools and universities Consumer protection from monopoly and exploitation of merchants The second question: Make a table showing the comparison between the economic systems in terms of the goal, the mechanism of action, the distribution of output to society, its most important features. The name of the economic system.. ...... System ************** The goal of the economic system How does the economic system work? Distribution of the product to the community its main features

The first question shows the type of economy in which each of the following economic activities can be dealt with, with an explanation of the reason: Economic Activity Microeconomics Macroeconomics Study the volume of demand for dairy products in the Kingdom Rising prices of building materials in the economy The state is interested in the tourism sector Increasing employee salaries and establishing schools and universities Consumer protection from monopoly and exploitation of merchants The second question: Make a table showing the comparison between the economic systems in terms of the goal, the mechanism of action, the distribution of output to society, its most important features. The name of the economic system.. ...... System ************** The goal of the economic system How does the economic system work? Distribution of the product to the community its main features

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 3PA

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Similar questions

Macroeconomics is an aggregate of what happens at the Microeconomics level. Would it be possible for what happens at the macro level to differ from how economic agents would react to some stimulus at the micro level? Hint: Think about the behavior of crowds.
What is the difference between microeconomics and macroeconomics?
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Question 1 Classify the following as macroeconomic or Microeconomics and provide a justification for your choice . 1) The government issued stimulus cheques to citizens to offset effects to covid-19 . 2) Susan's decision about how much income to save . 3) The decision by McDonald's to hire fewer workers because of an increase in the minimum wage . 4) Airline projects a drastic reduction in international travel for this quarter .This might result in the layoff of workers. Question 2 A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.The cost of capital is $3,000 and it is fixed, which means that it does not vary with output.The company is currently producing 24 snowboards .The company's cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard . i) Should the company produce and sell it? (Yes or No). Explain ii) What core principles should be considered in the…
The basic difference between macroeconomics and microeconomics is that? a.macroeconomics is concerned with policy decisions, while microeconomics applies only to theory. b.microeconomics is concerned with the forest (aggregate markets), while macroeconomics is concerned with the trees (subcomponents). c.macroeconomics is concerned with the forest (aggregate markets), while microeconomics is concerned with the individual trees (subcomponents). d.opportunity cost is applicable to macroeconomics, and the fallacy of composition relates to microeconomics.
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