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A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
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(a) Distinguish between
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- Distinguish between Microeconomics and Macroeconomics with their objectives 1.1. MICROECONOMICSClassify the following as microeconomics or macroeconomics and provide a justification for your choice.(a) Research into why the growth rate of total production increased.(b) A theory of how consumers decide what to buy.(c) An analysis of IBM's share of the personal computer market.(d) Research on why interest rates in a country were unusually high.
- What are three important themes in microeconomicsIdentify each of the following topics as being part of microeconomics or macroeconomics: the effect of a change in the price of Coke on the purchase of Pepsi. (a) microeconomics (b) macroeconomics(1) Classify the following topics as relating to microeconomics or macroeconomics. (5) 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
- 1. How can we apply the core principles of scarcity, choice, opportunity cost and cost-benefit analysis to the decision-making processes? 2. Explain the difference between micro economics and macroeconomics. 3. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables.Which one is not issued in Macroeconomics1. Explain the difference between micro economics and macroeconomics. 2. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables.