1. Analyze whether each of the following is primarily a micro economic or a macroeconomic issue: ...

Question:

1. Analyze whether each of the following is primarily a micro economic or a macroeconomic issue:

i. Setting the price for a cup of coffee.

ii. Measuring the impact of tax policies on total household spending in the economy.

iii. A household?s decision regarding whether or not to go on vacation.

iv. A worker?s decision regarding which job to accept.

v. Designing government policies to address issues with the social security program.

Economics:

The economics is the study of science and art dealing with how scarce resource is used for satisfying the need of the consumers. It is the state of a group as respects to material prosperity.

Answer and Explanation:

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i)The setting up the price of the cup is related to the microeconomic issues. The microeconomics deals with the action of individuals and companies in...

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Microeconomics vs. Macroeconomics

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Chapter 1 / Lesson 10
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