Explanation Option (a): The statement “A family's decision about how much income to save” is related to micro economics. Because, it is focused on the saving habit of a family. Option (b): The statement “The effect of government regulations on auto emissions” is related to micro economics. Generally, micro economics is the study of economics at an individual level where the government regulation is only for the auto emission. Option (c): The statement “The impact of higher national saving on economic growth ” is related to macro economics. Macroeconomics is the study of economy as a whole and it includes the topics such as inflation, unemployment and economic growth and so on...

Micro economic and macroeconomic statements.

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN: 9781305971509

Author: N. Gregory Mankiw

Publisher: Cengage Learning

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Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 2, Problem 5PA

To determine

Micro economic and macroeconomic statements.

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