Which of the following would likely be studied by a microeconomist rather than a macroeconomist? a. The effect of a national healthcare program on the nation's unemployment rate b. The effect of a war on government spending c. A comparison of alternative tax policies and their respective impacts on the rate of the nation's economic growth d. The impact of minimum-wage laws on employment in the fast food industry

Which of the following would likely be studied by a microeconomist rather than a macroeconomist? a. The effect of a national healthcare program on the nation's unemployment rate b. The effect of a war on government spending c. A comparison of alternative tax policies and their respective impacts on the rate of the nation's economic growth d. The impact of minimum-wage laws on employment in the fast food industry

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter5: An Introduction To Macroeconomics

Section: Chapter Questions

Problem 1TY

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Classify the following as microeconomics or macroeconomics and provide a justification for your response. A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth The decision by McDonald’s to hire fewer workers because of an increase in the minimum wage. Susan’s decision about how much income to save The central bank announces that it is increasing the discount rate in an effort to slow the rate of inflation. Question 2 A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.00. the cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 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. Should the company produce and sell it? Timothy quits his job which pays $84000 a year, to enrol in a 2-year…
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Which 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 unemployment

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	a.	The effect of a national healthcare program on the nation's unemployment rate
	b.	The effect of a war on government spending
	c.	A comparison of alternative tax policies and their respective impacts on the rate of the nation's economic growth
	d.	The impact of minimum-wage laws on employment in the fast food industry