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- Indicate whether each of the following statements applies to microeconomics or macroeconomics:a. The unemployment rate in the United States was 4.9 percent in January 2008.b. A U.S. software fifirm discharged 15 workers last month and transferred the work to India.c. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise.d. U.S. output, adjusted for inflflation, grew by 2.2 percent in 2007.e. Last week Wells Fargo Bank lowered its interest rate on business loans by one-half of 1 percentage point.f. The consumer price index rose by 2.8 percent in 2007.Classified the following as microeconomics or macroeconomic and provide a justification for your choice Telsa announced the development of a million-male electric car battery that is ready to launch. Micro, examining one sector of economy Macro, examining one sector in economy Macro, examining one firm in economy Macro, examining entire economy Micro, examining one specific firm Micro, examining one individual Airlines project a drastic reduction in International travel for this quarter. This might result in the layoff of worker. Micro, examining one sector of economy Macro, examining one sector in economy Macro, examining one firm in economy Macro, examining entire economy Micro, examining one specific firm Micro, examining one individual The government issued stimulus cheques to citizens to offset effects of covid-19 Micro, examining one sector of economy Macro, examining one sector in economy Macro, examining one firm in economy Macro, examining entire…Classify the following as microeconomics or macroeconomics and provide a justification for the choice 1. Airlines projects a drastic reduction in international travel for this quarter. This might result in the layoffs of workers 2.The impact of an increase in the price of computer chips on the market for personal computers 3. The relationship between the inflation rate and changes in the quantity of money 4. The decision by Mc Donald's to hire fewer workers because of an increase in the minimum wage
- Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. The unemployment rate in the United States was 5.1 percent in September 2015. b. A U.S. software firm discharged 15 workers last month and transferred the work to India.c. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise.d. U.S. output, adjusted for inflation, increased by 2.4 percent in 2014.e. Last week Wells Fargo Bank lowered its interest rate on business loans by one-half of 1 percentage point.f. The consumer price index rose by 0.2 percent from August 2014 to August 2015.Indicate whether each of the following statement applies to microeconomics or macroeconomics: Last week Wells Fargo Bank lowered its interest rate on business loans by one-half of 1 percentage point.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
- Indicate whether each of the following statement applies to microeconomics or macroeconomics: The unemployment rate in the United States was 5.0% in April 2008.. Categorize the following as microeconomic or macroeconomic questions: (i) What are the differences between the dairy industry and the airline industry? (ii) Why are unemployment rates for teenagers rising? (iii) Why are prices falling in the digital camera industry? (iv) Why is the Barbados experiencing high rates of inflation? (v) How large is KFC’s share of the fast food industry? (vi) How will implementation of a minimum wage rate affect your 17 year old brother’s budget? (vii) Why are interest rates rising? (viii) Why are economic growth rates different in the Jamaica and Antigua?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.
- Microeconomics 2 - Factor Market - Pareto Optimum Consider an economy in which only 2 factors are capital (K) and labor (L) whose total supply is 100 labor and 100 capital. They are used by only firm that produces only 2 final goods X and Y. The technology describing the production process of each of goods is described by the following production functions: X = 5 Lx + 3 Kx and Y = 1/3 Ly Ky It’s known that the factors have been allocated in such a way that the initial endowment is: Kx = 75; Lx = 85; Ky = 25 and Ly = 15. With these data we ask: Obtain the contract curve corresponding to the production of this economy. Does the starting point constitute a PARETO OPTIMUM? Represent the available information in an Edgeworth Box. Obtain the production possibilities frontier (PFC) curve. Locate the initial endowment THANKS :DQuestion 1 Classify the following as microeconomics or macroeconomics and provide a justification for your choice The optimal choice of output for a firm that produces electric heaters Macro, examining entire economy Macro, examining one sector in economy Micro, examining one specific firm Micro, examining one individual Micro, examining one sector of the economy Macro, examining one firm in the economy A worker’s decision about how many hours to work Macro, examining entire economy Macro, examining one sector in economy Micro, examining one specific firm Micro, examining one individual Micro, examining one sector of the economy Macro, examining one firm in the economy The impact of new technology in the market for DVD recorders Macro, examining entire economy Macro, examining one sector in economy Micro, examining one specific firm Micro, examining one individual Micro, examining one sector of the economy Macro, examining one firm in the economy The relationship between…Classify the following as microeconomics or macroeconomics and provide a justification for your choice The impact of new technology in the market for DVD recorders The stock market plunges by 1000 points due to uncertainty The effect of government regulations on car emissions The relationship between the inflation rate and changes in the quantity of money