EBK EXPLORING ECONOMICS
7th Edition
ISBN: 9780100544772
Author: Sexton
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 3P
To determine
(a)
The branch of economics that covers the effect of an increase in supply of lumber on the home building industry.
To determine
(b)
The branch of economics that covers the changes in the
To determine
(c)
The branch of economics that covers the changes in the inflation rate.
To determine
(d)
The branch of economics that covers the changes in the country's
To determine
(e)
The branch of economics that covers the price of concert tickets.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Which of the following is Microeconomics
concerned with?
A. The size of national output
B. The level of employment
c. Changes in general level of prices
D.
None of the above
Which of the following is a macroeconomic topic?
a. Whether the army should buy more tanks or more rockets
b. the reasons for the rise in average prices
c. the reasons for a rise in the price of orange juice
d. why plumbers earn more than janitors
Which of the following is NOT studied in microeconomics?
The effects of government regulations on automobile demand.
The relationship between household income and household savings.
A family’s decision on how much income should save in a year.
The relationship between the inflation rate and changes in the quantity of money
Knowledge Booster
Similar questions
- 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 unemploymentarrow_forwardMicroeconomics or macroeconomicsarrow_forwardWhy isn’t money considered capital in economics? Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation’s inflation rate to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy? Explain the importance of the ceteris paribus assumption for an economic model. Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used? Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…arrow_forward
- Macroeconomics is the study of a. the behavior of large firms in the marketplace b. the economic behavior of individual decision makers c. the behavior of the economy as a whole d. how to use the fewest natural resources to produce goods and servicesarrow_forwardWhat is economics? A social science that teaches one how to cope with scarcity. A discipline that quantifies the values of assets. A quantitative science to analyze business cycles. A science that teaches firms and individuals how to maximize profits.arrow_forwardQuestion: 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.arrow_forward
- Classify the following topics as relating to microeconomics or macroeconomics. The family’s decision about how much income to spend on food. The effect of government regulations on auto emissions. The impact of higher public savings on economic growth. A monopolist’s decision about how many units to sell. The relationship between the inflation rate and the unemployment rate.arrow_forwardMacroeconomics or Microeconomics a. Tesla announced the development of a million mile electric car battery that is ready to launch b. The Bureau of Labor Statistics projects a 20% increase in the number of workers in tourism industry from 2009-2019arrow_forwardExplain how microeconomics differs from macroeconomics. Which of the following headlines, taken from the various issues of The Daily Graphic, deal with microeconomics:a. “Nestle Ghana posted a 18% increase in sales”b. “GRIDCO plans to slash more jobs”c. “Ghana’s Output Grew by 5.8%”d. “Housing starts soared 10% in September”e. “Ghana to Breach key Deficit Target it helped to create”Explain each issue why it is a microeconomic issuearrow_forward
- What is important of studying economics? Give two good examples how the knowledge can help you in your daily routines.arrow_forwardAnswer each question using the drop box. The explanation should also be from the drop boxarrow_forwardNormative economics is: a. An investigation or statement about the norms and culture of other countries. b. An investigation or statement that attempts to describe how the world should be or ought to be. c. An investigation or statement about the positive benefits of a given country.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co