Please answer my questions I’m not sure about my answers Thanks, 6) Which of the
ID: 1134059 • Letter: P
Question
Please answer my questions I’m not sure about my answers
Thanks, 6) Which of the following is a microeconomic topic? i. K-Mart's decision to close stores that are not making a profit ii. Home Depot's choice to hire more full-time employees because its sales increased ii. Delta Airlines changes its fares. A) 1 only B) only C) i and ii D) ii and ii E) i, ll, and ill 7) Which of the following is a topic studied in macroeconomics? The pricing decisions in the computer hardware industry B) The effect on economic growth if the government raises taxes C) How the wheat industry determines how much wheat to grow D) The impact of labor unions on wages E) The impact of higher prices for gasoline on the number of SUVs people buy A) 8) Canada has nationalized heal has some access to health care. Based on this observation, Canada has decided that th care, so that everyone, regardless of their ability to pay, everyone, regardless of their ability to pay" is the answer to what microeconomic question? A) What type of health care will be produced and in what quantity? B) How will health care be produced? For whom will health care be produced? D) Why will we offer health care? E) Must we offer health care? 9) In economics, cost is measured asand benefit is measured as what you must give up to get something; what you are willing to give up to get it B) what you are willing to give up to get it; what you must give up to get something C) the amount of money that you pay for something; the amount of money that someone else is willing to pay you D) what you are willing to pay on the margin; what the govenment pays you when you are unemployed or retired E) the amount of money that you pay on the margin; the amount of money that you receive on the margin
Explanation / Answer
6) The answer is (E) i, ii, and iii
The reason is that microeconomic takes into account the issues and analyses related to individual units such individual industry, individual company etc. In the above case K-Mart, Home Depot, and Delta Airlines are individual units.
7) The answer is (B)
Unlike microeconomics, macroeconomics takes into account the issues of the economy as a whole. The effect on economic growth of the taxes falls in that aggregate level analysis and broader category.
8) The answer is (C)
The concern regarding the ability falls in the category of microeconomics question of 'for whom to produce'. This question seeks to analyze the society for which the good or service is there.
9) The answer is A.
The cost is measured as what you must give up to get something and benefit is measured as what you are willing to give to get it.