Study Guide for Mankiw's Principles of Microeconomics, 7th
7th Edition
ISBN: 9781285864242
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 2, Problem 5PA
To determine
Micro economic and macroeconomic statements.
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Classify the following topics as relating to microeconomics or macroeconomics.
a. a family's decision about how much income to save
b. the effect of government regulations on auto emissions
c. the impact of higher national saving on economic growth
d. a firm's decision about how many workers to hire
e. the relationship between the inflation rate and changes in the quantity of money
Classify the following topics as relating to microeconomics or macroeconomics.
a family’s decision about how much income to save
the effect of government regulations on auto emissions
the impact of higher national saving on economic growth
a firm’s decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money.
Classify the following as microeconomics or macroeconomics and choose a justification for your choice from the options below.
1. Toyota is contemplating increasing the production of SUVs based on projected future consumer demand.
a. Micro, examining one sector of economy
b. Macro, examining one sector in economy
c. Marco, examining entire economy
d. Micro, examining one specific firm
e. Macro, examining one firm in economy
f. Micro, examining one individual
2. The impact of an increase in the price of computer chips on the market for personal computers.
a. Micro, examining one sector of economy
b. Macro, examining one sector in economy
c. Marco, examining entire economy
d. Micro, examining one specific firm
e. Macro, examining one firm in economy
f. Micro, examining one individual
3. The relationship between the inflation rate and changes in the quantity of money.
a. Micro, examining one sector of economy
b. Macro, examining one sector in economy
c. Marco, examining entire economy…
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Study Guide for Mankiw's Principles of Microeconomics, 7th
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