(a)
Whether the rapid growth of “T” belongs to
Explanation of Solution
The growth of company “T” is part microeconomics because microeconomics studies the economy on an individual level, and it is an individual company. The study of individual units, firms, household, etc. is a part of microeconomics.
(b)
Whether the problem of
Explanation of Solution
Unemployment an issue that is dealt by macroeconomist because Macroeconomics studies the movement of the whole economy in the country.
It is a branch of economics that deals with the entire economy. Thus, it is a part of macroeconomic theory.
(c)
Whether the growth of an economy belongs to microeconomics or macroeconomics.
Explanation of Solution
It is part of macroeconomic theory because it includes the study of the whole economy (Japan and U.S) and the study of the economy as a whole is a part of macroeconomics theory.
(d)
To find whether the growth of health care belongs to microeconomics or macroeconomics.
Explanation of Solution
Health care costs have risen rapidly in recent years. This will be studied by macroeconomists because health care is an important part of government spending and the government’s activity is a part of macroeconomic theory.
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Chapter 5 Solutions
Macroeconomics: Principles and Policy (MindTap Course List)
- Macroeconomics is concerned with: only long-run trends in economic activity. only short-run fluctuations in the business cycle. both long-run trends and short-term fluctuations in economic activity. only with changes in the overall price level.arrow_forwardChoose the following topic that would likely not be studied by a macroeconomist. a rise in unemployment claims the gross domestic product (GDP) of Latin American countries the cycle of economic growth and economic decline the 2019 profit of the country's biggest retailerarrow_forwardIdentify the questions that are answered by Macroeconomics from the following. a. All of the options b. What is the nation’s rate of unemployment c. What is the nation’s rate of inflation d. What is the nation’s level of GDParrow_forward
- Output measured through a macroeconomic lens can be explained as: A) Production of the entire economy. B)Production in a monopoly. C)Production of one worker. D)Production of a business.arrow_forwardMacro Econarrow_forwardClassify 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…arrow_forward
- Macroeconomics is primarily concerned with business cycles and economic growth. Which of these two issues do you consider most important and why?arrow_forwardWhich of the following is not related to Macroeconomics? a. Determining individual consumer decisions b. Preventing the economy from experiencing inflation c. Preventing the economy from experiencing unemployment d. Keeping living standards high for people to live decent, meaningful livesarrow_forwardi need help getting this question right from macroecon question 4arrow_forward
- The Consumer Price Index... Group of answer choices Measures the change in the cost of living for a typical US household Measures the change in all prices of final products in the macroeconomy Measures the change in all inputs of production in the macroeconomy Measures the change in energy and food prices in the macroeconomyarrow_forwardWhat is this business cycle all about in Macroeconomics? 1. Consumers/households 2. Business/Enterprises 3. Employees 4. Governmentarrow_forwardwhat does macroeconmics learnarrow_forward
Macroeconomics: Principles and Policy (MindTap Co...EconomicsISBN:9781305280601Author:William J. Baumol, Alan S. BlinderPublisher:Cengage Learning